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View Full Version : Have You Noticed The Current Spot Price on Ebay?



chux03
21st March 2008, 05:47
If you can find a 10 ounce stick of silver for a "Buy It Now" price under $20 on Ebay, you're good!! Here the real world spot price is a shade over $17 but on Ebay the spot is $20 or at least that's the cheapest you'll find. They're all acting like there's a shortage or something!! I wonder how much they're selling?? Sure seems to be quite a lot of silver there for sale as of late...I'm betting some of that silver hasn't seen the light of day for many a moon. What a choice for 100 oz bars!!!
They'll have to come down closer to Earth before any more Ebay purchases here. I don't expect exact spot price but it should be within a buck or I ain't playing. I'll just go locally and they only charge .50 over spot AND I can walk out with it...
Comments?

silverstash
21st March 2008, 06:13
It probably is gonna take a few "no sale" auctions to get these sellers down to earth, and perhaps a lot of these auctions were started before the last couple down days. I wouldn't read any shortage into this at all.

TTAZZMAN
21st March 2008, 10:06
if i could walk and get it localy (which i cant).....i would be selling on ebay and buying localy....

prahudka
21st March 2008, 10:42
Comments?

COTEX and the real people's market are divergent and will get more so.

Take the red pill.

chux03
21st March 2008, 15:53
I just called my 2 local coin shops and even though I know they're busy,

Shop #1:

1. He's (the owner) unaware of the current silver shortage mentioned by Jason Hommel and currently engulfing the nat'l market. He said "there's no shortage when the price is going down." In normal times I'd agree.
2. "He's got LOTS of silver" he mentions in passing though when I offered a "plug" he politely said he doesn't want one, he already has plenty of customers who buy most of what he has.
3. He's above average busy.

Shop #2

1. Like shop #1 they're unaware of a silver shortage and also aghast about falling prices during any kind of "shortage." "That's the first time I've heard of that", she said.
2. For the past couple of weeks they have been "crazy busy" selling precious metals, especially silver.
3. They're "out of 07 and 08 silver eagles, have LOTS of 10 ounce bars" and "everything else looks pretty well stocked up for us." They're currently selling silver, out the door for $18 an ounce "for as much as you want. And it's a nice long 3 day weekend she mentions, so the spot price will remain about where it's at." "I'll be seeing you later on this afternoon!!" I said...

There're other coin shops around this large metropolitan area so I have to figure that, at least around here, things are pretty much the norm if you're looking to buy silver. Right now...

silverbuggy
21st March 2008, 20:59
thats why people should not believe everything they read (by the newsletter writers).

TTAZZMAN
21st March 2008, 22:00
chux what part of the country are you in? driving distance?

around here.....million people area......multi-coin shops.....any kind of bar silver is over 20 with spot at 17 ....and almost no inventory

chux03
21st March 2008, 22:28
I'm in western Washington, near Seattle/Tacoma. Not far from NW Territorial Mint either (though IF I was doing business with them, I'm walking in, buying, then walking out with my purchases).
I couldn't resist calling and seeing what these dealers had or even if they knew about any kind of shortage. I have dealt personally with both of these shops and have spent hundreds in each establishment over the years. I also asked if they had heard ANYTHING from other dealers about a shortage and that came up negative too.
I'll know more tomorrow as I'm paying one of them a visit...
More then.

waynetheking
21st March 2008, 22:53
i called on a order yesterday and asked about my shipment. she said she had 400 orders siting on her desk and in 3 years of her employment there she has "never seen it this crazy".....

gypsybiker45
22nd March 2008, 07:23
If you can find a 10 ounce stick of silver for a "Buy It Now" price under $20 on Ebay, you're good!! Here the real world spot price is a shade over $17 but on Ebay the spot is $20 or at least that's the cheapest you'll find. They're all acting like there's a shortage or something!! I wonder how much they're selling?? Sure seems to be quite a lot of silver there for sale as of late...I'm betting some of that silver hasn't seen the light of day for many a moon. What a choice for 100 oz bars!!!
They'll have to come down closer to Earth before any more Ebay purchases here. I don't expect exact spot price but it should be within a buck or I ain't playing. I'll just go locally and they only charge .50 over spot AND I can walk out with it...
Comments?

The Buy it Now price is always too much on Ebay for just about anything, not just PMs,like whoever said it, many of these have been posted a few days back when we were at $21,Eagles always have a minimum 10% premium on Ebay, and many sellers ,if you look at their other items for sale, baseball cards,football schedules,Etc., arent even really dealers, its a sideline for them, they see a 1oz eagle and think,"Gee i have these superbowl XXX coins that are.999 1oz ,they should be worth more than a silver dollar!" so they tag a premium on a generic coin!I deal with a few real dealers on Ebay, and they always let their "Buy it Now" prices sit over a weekend, and will change it monday afternoon if the price drops a dollar or so,the auctions are a better gauge of spot prices, i cant blame them, the buy it nows are for impulse buyers.i bought 4 oz of ASE 2008s for $19 ea plus $4 shipping (total $80) the other day when Ag was $21,i cant complain too loudly.

JesterJay
23rd March 2008, 00:32
That is why I SELL on ebay and buy local.
Ebay is retail sales for silver. Welcome to the world market, silverbugs.
For a real test of the silver price on ebay just search for 10 bar silver. You will get all the 10 oz bars of silver. I like to check the newly completed auctions too. I watch them go from $130 for a 10 oz. stick with 4 days left all the way up to the real price of $210. That's $21/oz still, isn't it?
Yup, Spot don't matter. It is worth $20 per ounce on ebay. Silver Eagle rolls are going for $425-465 too. Sounds about right to me.
Wait til the spot price is $100. Eagles will bring $120 and 10 oz bars will go for $1100!
Can't wait for THAT kind of fun!
JesterJay



Eagles always have a minimum 10% premium on Ebay, ...the auctions are a better gauge of spot prices...

chux03
23rd March 2008, 01:07
You can't find ANY silver priced near spot on Ebay...even after the auction's done!!
I'm with Jester. You'll be lucky to find $20 silver as even the auctions go for $21. I don't have time to bid, then keep an eye on it, only to be outbid at the end on something I should have looked for in the Buy It Now auctions anyways.
Here's a nice story that just happened a few months ago now. Silver was going for about $16 an ounce on Ebay. I used the BIN feature and bought 2 - 10 ounce Englehard bars for a total price of $320 with free shipping, not a bad deal considering that was close to spot. The next day after making payment, I get a message from this dealer who informs me that he oversold his stock (his fault he mentions) and now will either give me my money back OR he'll give me a roll of silver Eagles for my troubles instead of the bars. I opted for the Eagles, left him positive feedback mentioning his accomodating nature and did even better on this one than usual. Using BIN I have also come acrossed several other good deals in the bullion world on Ebay. In fact, all I really look at when going to Ebay is the BIN auctions for silver bullion and I also look at the auctions ending soonest too so I can buy something by sniping someone at the end of the auction should that be a possibility.
Of course, I've also overpaid for a silver item there on purpose too. I found a small 3+ ounce poured silver ingot/flat bar from the opening date in 1906 for the Sunshine mine in Idaho. It's a cool bar that has the pick and shovel Sunshine logo on it that was given away as a memento of the mine's opening over 100 years ago, according to a note that was wrapped around it when the present owner decided to sell her father's estate. By the time the smoke cleared on that one I spent over $100 to buy that and I would have gone higher too....I wanted THAT piece!! (I've seen two others exactly like this one that sold on Ebay recently within the last couple of months that sold for well over $100 also) But that one's collector silver and not really one for bullion price speculation.
There's no better variety of things silver than on Ebay, no matter what one thinks about their eventual selling price. We really are fortunate to have such a resource and a great example of pure capitalism where just about anybody can buy OR sell just about anything and still for the most part TAX FREE...

nomoney
24th March 2008, 02:11
The Buy it Now price is always too much on Ebay for just about anything, not just PMs,like whoever said it, many of these have been posted a few days back when we were at $21,Eagles always have a minimum 10% premium on Ebay, and many sellers ,if you look at their other items for sale, baseball cards,football schedules,Etc., arent even really dealers, its a sideline for them, they see a 1oz eagle and think,"Gee i have these superbowl XXX coins that are.999 1oz ,they should be worth more than a silver dollar!" so they tag a premium on a generic coin!I deal with a few real dealers on Ebay, and they always let their "Buy it Now" prices sit over a weekend, and will change it monday afternoon if the price drops a dollar or so,the auctions are a better gauge of spot prices, i cant blame them, the buy it nows are for impulse buyers.i bought 4 oz of ASE 2008s for $19 ea plus $4 shipping (total $80) the other day when Ag was $21,i cant complain too loudly.

Don't forget the ebay fees, the final value fee and then if paid by paypal, their cut. If you sell "buy it now" at spot your gonna lose money 99. 5 % of the time unless there is a fast shift in spot between when you sell it and when you get paid for it. I was selling art bars by the troy pound and spot was 17 and change. If I sold a troy pound (12oz) at spot it should have went for around 214.00. My first one went for 216.89 and I had some really nice art bars from the 70's. I got paid the next day and by that time silver was up about .75 an ounce. Paypal took their cut of about 18.00 and ebay got 8.89 for FVF and 5.00 for highlighting the gallery, and I think like a .30 listing fee. So you can see I lost money on that deal.
Then it took paypal 4 days to transfer that money to my account and during those 4 days silver jumped to the high 19 range. I got a bit luckier the day as that lot got bid up to 330.00 and the next one went for 310.00. I have since added a paypal debit card so I can get my money the same day to replenish my old stock though now paypal charges you a dollar to get your own money from a 24 hour teller and the bank that owns the teller machines takes a cut of 2.25.

I was auctioning 1 pound grab bags with some really nice art bars and rounds including world trade center bars, canadian silver maples,Silver Eagles,limited editions, etc. Someone even got a limited edition of one of 5000 planet of the apes bar from the early 70's with a low 2 digit serial number. All my bars were in excellent to uncirculated never opened from the mint condition but the ebay and paypal fees were eating most of my profit.
I started listing some bars and rounds each and recently had a Marylyn Monroe bar go for something like 45.00 for a one ounce bar from a 99.cent no reserve opening bid. So I guess it evens out in the end but if you sell a few troy pounds and get a few people that don't pay you for 2 or 3 days then get a couple of paypal e-checks that sometimes take 8 to 10 days to clear that can tie up a good deal of you cash you could be buying more silver with like right now during this dip.

It's not as easy to make good money on Ebay as some people on here seem to think, especially when your not holding much paper money to buy more silver or gold when the price does dip. I keep just enough paper money to pay my basic bills (gas,insurance,phone,etc) and all the rest of my cash I convert to silver or gold as soon as I get it. If an emergency comes up, I can always cash in a 10oz bar or a roll of silver quarters but if there is a big dip in silver price and I am waiting for a grand in funny money from people on Ebay ,chances are by the time I do get that cash the dip is gone and I may end up paying 5.00 an ounce more than what I could have got it for if I was paid instantly like I was supposed to have been. I could sell some of my silver, and then I would have paper money to buy silver with during the dip but that would be kinda silly don't you think? (I added that comment to see if your awake)
Another example is when you have a non paying bidder who you sold a high value item to. For example I sometimes sell rare books and antiques. I recently sold a really rare book for over 3000.00. I never heard from the winner and was planning on buying 3000.00 worth of silver or gold with the money. But ebay makes you wait 7 days before you can file a non paying bidder complaint, then makes you wait another 7 days for them to respond before you can even relist what you were selling.Then you have to reauction it and wait till another 7 days till the auction ends, then wait till the new high bidder pays you. Sometimes a few seconds after the auction is over and sometimes a few days or longer. That ties up aproximatley 3 grand close to a month sometimes even longer because some idiot bid on one of your items and then changed their mind or blew there money or never had it to begin with. Three grand worth of silver at 16.00 an ounce by the time I relisted it and sold it, I ended up with 3 grand worth of silver at 21.00 an ounce and all the non paying bidder got was a warning.
People think selling on ebay is easy money but if your an honest seller and describe every item you sell in every listing with details of every defect and sometimes spend an hour or more just taking pictures for one item so the buyer knows exactly what they are bidding on,then you realize it's not as easy as most people think it is. But that is why I received over 200 positive feedbacks in the last couple of years,which is not a whole lot compared to some sellers but my detailed feedback on everything is between 4.7 out of 5 (my lowest) for shipping charges 4.8 shipping speed and communication and 4.9 (my highest) for item as described and that is why I average between 2.000 and 4.000 in sales a week. So to those that complain about the spot price of silver on ebay you need to take all this into consideration before complaining ebayers charge to much for their silver.

PS. I am not a silver dealer, but I often sell on Ebay and I am sorry for going off topic but I have read to many people on here complain about the cost of silver on Ebay so I only think it's fair that both sides of the story be heard. I just sold a few hundred ounces to see how the silver market worked on Ebay and sold it mostly as an experment. On a side note most of my items I do sell will sell much higher than a similar item because I have worked really hard to build up an excellent reputation as an honest seller, which I have found to be more important to most buyers than anything else and I have never ever offered any return policy on any of my items ever but I have never had an unhappy buyer because I make it my main goal to let them know exactly what they are bidding on so if they ever do get an surprises, they have always been along the lines of "I was really surprised, item much better than described".

gypsybiker45
24th March 2008, 06:40
Don't forget the ebay fees, the final value fee and then if paid by paypal, their cut. If you sell "buy it now" at spot your gonna lose money 99. 5 % of the time unless there is a fast shift in spot between when you sell it and when you get paid for it. I was selling art bars by the troy pound and spot was 17 and change. If I sold a troy pound (12oz) at spot it should have went for around 214.00. My first one went for 216.89 and I had some really nice art bars from the 70's. I got paid the next day and by that time silver was up about .75 an ounce. Paypal took their cut of about 18.00 and ebay got 8.89 for FVF and 5.00 for highlighting the gallery, and I think like a .30 listing fee. So you can see I lost money on that deal.
Then it took paypal 4 days to transfer that money to my account and during those 4 days silver jumped to the high 19 range. I got a bit luckier the day as that lot got bid up to 330.00 and the next one went for 310.00. I have since added a paypal debit card so I can get my money the same day to replenish my old stock though now paypal charges you a dollar to get your own money from a 24 hour teller and the bank that owns the teller machines takes a cut of 2.25.

I was auctioning 1 pound grab bags with some really nice art bars and rounds including world trade center bars, canadian silver maples,Silver Eagles,limited editions, etc. Someone even got a limited edition of one of 5000 planet of the apes bar from the early 70's with a low 2 digit serial number. All my bars were in excellent to uncirculated never opened from the mint condition but the ebay and paypal fees were eating most of my profit.
I started listing some bars and rounds each and recently had a Marylyn Monroe bar go for something like 45.00 for a one ounce bar from a 99.cent no reserve opening bid. So I guess it evens out in the end but if you sell a few troy pounds and get a few people that don't pay you for 2 or 3 days then get a couple of paypal e-checks that sometimes take 8 to 10 days to clear that can tie up a good deal of you cash you could be buying more silver with like right now during this dip.

It's not as easy to make good money on Ebay as some people on here seem to think, especially when your not holding much paper money to buy more silver or gold when the price does dip. I keep just enough paper money to pay my basic bills (gas,insurance,phone,etc) and all the rest of my cash I convert to silver or gold as soon as I get it. If an emergency comes up, I can always cash in a 10oz bar or a roll of silver quarters but if there is a big dip in silver price and I am waiting for a grand in funny money from people on Ebay ,chances are by the time I do get that cash the dip is gone and I may end up paying 5.00 an ounce more than what I could have got it for if I was paid instantly like I was supposed to have been. I could sell some of my silver, and then I would have paper money to buy silver with during the dip but that would be kinda silly don't you think? (I added that comment to see if your awake)
Another example is when you have a non paying bidder who you sold a high value item to. For example I sometimes sell rare books and antiques. I recently sold a really rare book for over 3000.00. I never heard from the winner and was planning on buying 3000.00 worth of silver or gold with the money. But ebay makes you wait 7 days before you can file a non paying bidder complaint, then makes you wait another 7 days for them to respond before you can even relist what you were selling.Then you have to reauction it and wait till another 7 days till the auction ends, then wait till the new high bidder pays you. Sometimes a few seconds after the auction is over and sometimes a few days or longer. That ties up aproximatley 3 grand close to a month sometimes even longer because some idiot bid on one of your items and then changed their mind or blew there money or never had it to begin with. Three grand worth of silver at 16.00 an ounce by the time I relisted it and sold it, I ended up with 3 grand worth of silver at 21.00 an ounce and all the non paying bidder got was a warning.
People think selling on ebay is easy money but if your an honest seller and describe every item you sell in every listing with details of every defect and sometimes spend an hour or more just taking pictures for one item so the buyer knows exactly what they are bidding on,then you realize it's not as easy as most people think it is. But that is why I received over 200 positive feedbacks in the last couple of years,which is not a whole lot compared to some sellers but my detailed feedback on everything is between 4.7 out of 5 (my lowest) for shipping charges 4.8 shipping speed and communication and 4.9 (my highest) for item as described and that is why I average between 2.000 and 4.000 in sales a week. So to those that complain about the spot price of silver on ebay you need to take all this into consideration before complaining ebayers charge to much for their silver.

PS. I am not a silver dealer, but I often sell on Ebay and I am sorry for going off topic but I have read to many people on here complain about the cost of silver on Ebay so I only think it's fair that both sides of the story be heard. I just sold a few hundred ounces to see how the silver market worked on Ebay and sold it mostly as an experment. On a side note most of my items I do sell will sell much higher than a similar item because I have worked really hard to build up an excellent reputation as an honest seller, which I have found to be more important to most buyers than anything else and I have never ever offered any return policy on any of my items ever but I have never had an unhappy buyer because I make it my main goal to let them know exactly what they are bidding on so if they ever do get an surprises, they have always been along the lines of "I was really surprised, item much better than described".

well done,the fees are horrid on there, i sell quite a bit of Motorcycle parts on there myself and thats so true, may i recommend National City Bank for a pay pal "resevoir" i usuallly get my transfers in 1-2 days rather than 3-5 from others.

nomoney
24th March 2008, 14:01
I am almost about ready to sell the Harley (which is paid for) and use the money to buy up as much sivler as I can but then my old lady would prob leave me, (though that too may not be a bad thing,lol)! I will have to check out the National City Bank thing. I deal with Wilmington Trust for my banking and I just bought a one ounce Wilmington Trust Silver round they gave people as a gift when they opened an account about 25 years ago from the local coin shop, so when silver hits 50 grand an ounce I can walk into the bank and toss there one ounce round on the counter and pay off my mortgage,:)

Kelly
24th March 2008, 14:26
For those of you thinking about buying silver on e-bay, please, please use your heads; if you are buying eagles, buy only from dealers located in America and READ THEIR FEEDBACK. If you are buying multiples of anything, make dang sure you check their postage fees first. You could very well find yourself paying $4.95 postage for one eagle, and at least half that in postage for each additional piece.

Also, do NOT, please, buy anything reporting to be an eagle coming out of the Asian countries. If there is ever going to be anybody trying to pass of eagle fakes, it's probably going to come from there.

I've bought a lot of stuff on e-bay for my business, and if you don't know your seller, you can get taken really bad. There are a lot of honest dealers, but please watch out for the dishonest ones, because they are definately out there.

Also, whenever I bought on ebay I used paypal, and I have never used paypal for any transactions but e-bay purchases. Three weeks ago, somebody in Europe charged nearly $300 worth of stuff using my paypal account. I immediately reported it, and paypal did find that it wasn't me who made the purchases, but it sure made me wonder just how safe paypal really is.

paker
24th March 2008, 20:18
I got about the best deal on Ebay I've seen lately. Two Engelhard prospectors for $40.00 and the seller threw in a 2005 "fade away" S cameo proof penny! :)

Trevallion
24th March 2008, 22:14
Long time lurker, first time poster. Thought I'd chime in here...

I got into investing in silver last year. This weekend I made my first purchases on ebay. I think I did pay just a tad over spot, but one of the things I got was 2 Walking Liberty Halfs for $13, including shipping. I got some other single coins, franklin and another liberty, that I only paid $1.50 for shipping. (of course now I'm hoping I bought from honest sellers) Shipping is one of the things I really watch when I buy on ebay. I don't like to pay $4 for shipping something that's going to go in a bubble mailer and cost $1.68 (or less) to mail.

About paypal, we had some money taken out of our bank account that's linked to paypal. It was taken out in another country. And the bank thinks the way they got to our bank account was hacking the paypal account. I still use paypal, but only for ebay, and have a separate bank account only for ebay that I use for transfers funds to paypal.

Thanks for all the great advice that everyone offers on this forum!

Daveman
24th March 2008, 23:28
Also, do NOT, please, buy anything reporting to be an eagle coming out of the Asian countries. If there is ever going to be anybody trying to pass of eagle fakes, it's probably going to come from there.
Hey Kel, after reading your reply to my other thread about Monex, I suddenly thought of something when putting it together with your post here: Would any of the "large" American dealers try to buy some of these questionalbe Eagles from Asia and sell them off here, or at least insert a couple of fake Eagles for every couple of real Eagles they sell?

JesterJay
25th March 2008, 02:18
Only if they wanted to be in the FED,
As in Federal Prison, that is.
No large dealer in his right mind would sell knockoffs along with the real thing. Never in a bullion years,
JesterJay



Hey Kel, after reading your reply to my other thread about Monex, I suddenly thought of something when putting it together with your post here: Would any of the "large" American dealers try to buy some of these questionalbe Eagles from Asia and sell them off here, or at least insert a couple of fake Eagles for every couple of real Eagles they sell?

Kelly
25th March 2008, 09:26
Hey Daveman, don't misunderstand me. I'm not saying that anybody is counterfeiting eagles, truth be known I haven't heard of that one yet. But what I do know is this: Whether it is Prada purses, or high-end name brand jewelry or shoes, etc., you can find it advertised as the "real thing" on e-bay and often times it isn't. There have been huge complaints about this on e-bay. And when they find out about it, both e-bay and Paypal try to eliminate the responsible seller. But it's too easy for those sellers to reinvent themselves under another email name or address, and jump back in and sell their fakes as the real thing again. E-bay is a huge market, and it would be almost impossible to stop this from happening.

Most of those counterfeit goods advertised as a name brand do seem to be coming out of Asia. I personally think the price of silver would have to go way up before we'd see counterfeit eagles or boullon come on the scene, but don't rule it out. The manufacturers out of Asia are astoundingly good at copying anything that sells at a high end price and trying to pass it off as an original. They've taken it to an art form...

silver_surfer
25th November 2008, 17:41
i better get some more of these eagles

research24
25th November 2008, 17:51
I saw some ASE rolls go for $16 on ebay today and notice that it is flooded with them. Apmex has them for $15.42. But yes, there is a crazy spread on ebay. Wishful thinkers, I think.

It looks to me like a few big speculators must have dumped their eagles as I cannot figure where they came from unless its a lot of small timers dumping in panic. Doubt its small timers though since many show the huge boxes, so musta come from specs.

nuslvrkwen
25th November 2008, 19:25
My eBay price of coins page stopped working a few days after I made it my favorite. But I've got coin info now. Much more information regarding daily prices on that site. But then eBay would be for selling wouldn't it?

chux03
25th November 2008, 21:56
Here, try this one:

http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=0