First question-- does this seller charge you 3% more for using a credit card? If not, I figure you could turn around and make about $40 profit selling to a good local dealer IF the price of gold stayed about the same.
CSB/Back when eBay didn't suck, and I had a store there selling all kinds of things, about once every three months I'd accumulate enough eBay bucks to get gold under spot, and there were no sales taxes on it. (There aren't supposed to be sales taxes on bullion in many states, but the eBay algorithm tries to slap in there now, blah.)
So it'd go like this: first you'd see something you needed in bulk, whatever kind of widgets, so you'd stock that up and get the eBay Bucks, say 20 dollars.
They activate at some point, then you go gold hunting on a day when you get more eBay bucks if you buy stuff. So say you see a $200 gold coin, it's marked up a little to say 215. You use your $20 eBay Bucks as part of the purchase price, and only had to pay 195 real dollars for the 200 worth of gold. Shweet. But wait-- you are a savvy shopper so you bought an auction that also gave you more eBay Bucks, and in a few months they activate and you can do it again.
I went most of a year buying a little this and that a smidge under spot. I guess I could have run down to the coin shop and made 5 or ten bucks back over what I paid, but the only things Goblins swap gold for is swords./CSB