Uggh Bad Day For Ebay

Agree on this.I just sold 3 Peace dollars,2 Franklin halves,and 3 silver quarters,All common dates with a good bit of wear.Melt value $122.40 The lot sold for $148.62

I kind of noticed too. It was my first time on ebay after losing power and internet for 5+ days and a full day of chainsawing fallen trees. Maybe people in the northeast were just jonesing for their ebay fix after a few days cold turkey, I dunno.

It may be fear of the European Debt crisis that is driving the bids. Especially the Greek scenario playing out right now.

Is the economy playing a role in all the overbidding, or are people late to the party upping all the bids? They see and hear people are making some extra cash investing in silver so they figure, hey why not me. Even if they have to overpay a little atleast they feel they are invested.
I mostly see the overbidding in melt value items.

Regarding the Morgans: Several Philadelphia radio stations have been airing an ad for "recently discovered" Morgans which listeners can buy directly from company xyz. The ad suggests you can hold history in your hand and that this is a rare opportunity. I'm thinking, call your local coin store, dummies. This is another con. Perhaps the ads, if played elsewhere, have spurred people to check out ebay where the prices are lower - compared to those of these radio salespeople.

Actually, there are a few things in the air that will be driving the price.

1.) In my opinion, the recent move by the CTC and the limits on futures has added
some confidence back into the silver market. Many felt it was all too obvious that
it was being manipulated by the cartel.

2.) Late last month a lot of commercials covered a large portion of their short positions.
This is often taken as a sign that the commercials think a bottom has been reached.

3.) Some are thinking a European default will move a large portion of investors back towards
Treasuries, gold, and silver.

4.) Sources are now saying there is going to be a squeeze on silver and that the prices will
really start to move this month. Some are saying the upper $40s by the end of the month with
$60 to $70 by the end of the year. If so, the commercials have covered and are ready for the ride.

Finally, the fact that the price has increased and is continuing to show strength just tends to
add to these other four points whether they are actually valid or just perceived.

As for me, I was able to pick up 48 Liberty Half Dollars and 13 Kennedys (40%) for $500 today.

There are around 36 Kennedys (40%) I am hoping to pick up around $3 a piece.

Normally, I sell if the market is up after a buy like this but this time I think I am actually going
to hold and add through the end of the month.

A storm is brewing and I hope to hoist my sales for the furthest distance.

Kenscott

I too amazed! Not only on e-bay but at my local bi-weekly auctions I go to. It is like cool I will bid a little lower than melt trying to score run of the mill silver coinage. Then some dude with too much money and not enough brains bids them to way over melt. I sit there with my finance and I am like well now thats going to take a good bit of time and luck to get his money back. ( Laughing under my breath).

It has been nutso on ebay this last week but at 5AM this morning I did pick up some ASE's at a buck over melt on a bid from that "power seller". They are back up now to 3-5 over.