Technically, no, you're not allowed to buy or sell coupons, on ebay or anywhere else. But as you point out, people claim to be giving away the coupons and selling their time instead, which is theoretically legal.
If you can get a good deal, it's worth it. But I think you'll find that the winner ends up paying very close to the face value of the coupon, which makes it a waste of time. I have also seen people buy face value (or MORE!) for a coupon. That's messed up.
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