Ebay Silver

[DMac]

For the fun of it I went browsing ebay a few minutes ago on completed auctions for American Silver Eagle, Canadian Silver Maple Leaf, Austrian Silver Philharmonic.

Holeeecow.

A few completed recently at ~$45.00

Many have completed at >$50.00

Some random coins are selling for 60 and even 70 each for the fake grading company slabs.

Wow.

[Ash_Williams]

Ebay buyers are idiots though. I used to sell $10 pay-as-you-go phone cards for $13 on ebay.

[SLV^GLD]

eBay buyers represent more or less free market values. I don't think they are idiots, I think they are getting something on eBay they otherwise cannot get for that price. On the phone card thing the buyers were most likely eliminating a paper trail to the use of that card. One can generally use eBay metals closing prices to get an idea of where the prices are going. When the closing prices are outstandingly higher than spot on common bullion you can generally expect spot to move up.

That said, I routinely score silver for below spot on eBay.

[Libertarian_Guard]

http://i54.tinypic.com/wk5qb9.jpg




$40.75 ....... any silver (even the overpriced stuff encased in plastic) is something REAL and beats the hell out of paper!

[SHTF2010]

awhile ago, when SILVER hit $20-$21, a few years ago

10 oz bars were selling for $300+

[Libertarian_Guard]

awhile ago, when SILVER hit $20-$21, a few years ago

10 oz bars were selling for $300+


Not long ago, when SILVER was priced in the paper market @ little below $5 or $5.50 per ounce, dealers would sell 10 oz bars for little over $50!

But the best part was how I could see in the eyes and body language that they hated letting me walk away with such a deal, but it didn't stop them, "and out the door I went!"

[mamboni]

The going rate for a common date uncirculated SAE is now $48-49 (Incl shipping). ;D

[1970 silver art]

Generally speaking, buying silver on ebay will cost you more as opposed to buying it locally. I looked at some of the common-minted silver art bars and some of them are selling at prices starting at a minimum of about $45 and goes up from there. A lot of them are selling at $50 winning bids. Like SLV^GLD said, ebay represents a free market place. Paying a large premium over spot silver does not make an ebay buyer an idiot. There are other things that are in play here such as the type of ebay silver buyers that are bidding on certain silver coin and bars. Collectors (such as myself) are buying rare silver art bars and are paying anywhere from 2X spot to 4X spot for them because they are nearly impossible to find at .999 generic silver premiums. There might be other silver ebay buyers that are buying silver at inflated prices because they 1.) Do not have a local coin shop to buy silver from or 2.) They are unaware that there are other online dealers such as APMEX that can offer generic silver for a much cheaper price than ebay.

At the very worst, ebay buyers are ignorant of the fact that there are other places to buy silver at a cheaper premium over spot. At the very best, ebay buyers (mainly collectors) know what they are buying and have an idea of how much they are willing to pay for a particular silver bar or silver coin. Of course, you also have the ebay buyers that are buying "100 mills" 1-oz silver bars for what they think are great prices and not realizing that they are not .999 pure silver bars.

I like ebay and I will continue to use ebay to bid on the rare silver art bars that I am not able to find at local coin dealers or at coin shows.

Whether you buy silver online at places such as ebay or locally, the idea of DYODD is a concept that should be applied here.

[StreetsOfGold]

Ebay = sellers market... mostly. What's wrong with that? I occasionally sell an ounce or 2 but only the specialy stuff that gets high premimuns anyways which I buy from the local dealers from their "bargin bin" (generic) ;D ;D ;D

Sometimes you can get a good deal but it will cost you a vital asset. your time

[Awoke]

Whatever they pay in closing price, you still have to add shipping, so a $50 ounce of silver become $55 or $60, depending where you live.

[StackerKen]

The going rate for a common date uncirculated SAE is now $48-49 (Incl shipping). ;D


yeah...But the buyer is just paying ebay the 8 dollar premium....the seller has to pay close to 8 bucks to sell that SAE on ebay these days....

I hate ebay for that....It was great when it wasn't so expense to sell metal there...Greedy bastards!

[Spectrism]

The going rate for a common date uncirculated SAE is now $48-49 (Incl shipping). ;D


yeah...But the buyer is just paying ebay the 8 dollar premium....the seller has to pay close to 8 bucks to sell that SAE on ebay these days....

I hate ebay for that....It was great when it wasn't so expense to sell metal there...Greedy bastards!


ebay is charging $8 to sell a $50 item?? Ouch. That is 16%!!!

[etc]

After shipping, Ebay fees, paypal fees and the common fraud on there, you are lucky to get spot on there. It's a great buyers market. Bid low on several auctions and may get some at a decent price. I got lots of sterling stuff at under spot (but then could not sell it at spot either)

[Awoke]

The going rate for a common date uncirculated SAE is now $48-49 (Incl shipping). ;D


yeah...But the buyer is just paying ebay the 8 dollar premium....the seller has to pay close to 8 bucks to sell that SAE on ebay these days....

I hate ebay for that....It was great when it wasn't so expense to sell metal there...Greedy bastards!


ebay is charging $8 to sell a $50 item?? Ouch. That is 16%!!!


Shit, that is the first I heard of that! I didn't realize they were dipping their fingers into the pot when people sell metals on that site. Too bad.

[1970 silver art]

When it comes to ebay and paypal fees, I have heard various percentages of what ebay and paypal combined take out of the winning bid. I was hearing percentages that range between 10% to 12% of the winning bid. I have never sold any PM's on ebay so I do not know, however, a couple of local coin dealers who also sell on ebay were giving me this information. It might be higher (or lower) than that. I guess it depends on the ebay auction winning bid.

[Silver Rocket Bitches!]

I sold a Engelhard 1 oz bar on there a few days ago. The closing bid was $52 w/ shipping. After Paypal/Ebay fees and shipping it comes out to around $46.

I paid $13 for the bar at a coin show in 2009.