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 Replies: 71 / Views: 8,601 |
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Bedrock of the Community
13014 Posts |
Quote:
Ever site I have found is charging like $3-5 per coin above spot which just seems outrageous Traevin had good advice with just bidding on multiple ebay things and hope some end lower than they should. Its really hard to find eagles or maples for spot though. Theyre very popular but it also costs money to turn the silver into them. The mints have to make money off them, then the distributor, then the ultimate seller so their price will always be above spot from any store but you can get lucky with ebay from time to time |
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New Member
United States
48 Posts |
Silver at $4 bucks.... Buy, buy and buy some more. Repeat after me buy, buy and buy some more. One more time - buy, buy and buy some more.
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Valued Member
United States
410 Posts |
Quote: If you use ebay, spam a few dozen auctions with multiple bids at whatever price you think is acceptable and see what happens. I used to do it all the time when I was actively buying bullion. I'd only win 1 in 10 auctions on average but if you have the time, the method can pay dividends This is a great technique and one I have used in the past. Just be sure you have the money to cover all of your bids. There are already way to many deadbeats on ebay. |
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Bedrock of the Community
Australia
21788 Posts |
Sounds a bit like 'dollar cost averaging' to me, but dressed in a different suit of clothes.
'Dollar cost averaging' is a time honoured and proven method of obtaining a position, gradually over a period, on the stockmarket, be it a buy, or sell, stategy.
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Pillar of the Community
United States
808 Posts |
Is it wrong that I'm obsessing over commission percentages? At today's $18.92 silver spot, the "big three" PM dealers are all wanting at least 23% commission per ASE. The dealers have to make something off the deal, too. I get that. These high premiums still bug me, though. So, crazy as it sounds, I'm kinda dreading any further big drops in the silver price. Heck, at $4.00USD per troy ounce I may be paying 100% commission or more just for the bloom'n privilege of buying a coin. And this doesn't even include shipping and possible tax for smaller purchases. I guess it all depends on when silver goes rocketing back to $40+ per troy ounce? |
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Pillar of the Community
Canada
2805 Posts |
$4 silver reminds me of a Canadian ad I read that was published in the 60s. You could buy silver dollars from the 50s for $3 each... (a rip-off back then)
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Pillar of the Community
United States
5863 Posts |
Quote:Is it wrong that I'm obsessing over commission percentages? At today's $18.92 silver spot, the "big three" PM dealers are all wanting at least 23% commission per ASE. I think you have to stop obsessing over commission percentages. Regardless of the spot price, ASEs are likely always going to sell for at least $2 over spot. Even if spot dropped down to $4, you'd still be paying at least $6 per ASE. What's bugging me right now is the high premium being added to so-called "junk" silver. APMEX, for example, is currently advertising $100 face-value bags of 90% silver Washington quarters (common dates in average circulated condition) for "as low as $4.29 per oz over spot!" $4.29 per ounce over spot for junk silver is not something to be bragging about, in my opinion. |
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Bedrock of the Community
13014 Posts |
Barry hit it on the head, regardless of the price of silver the cost to make the coin doesn't change. The cheaper silver is the higher the percent would be. Id much rather pay 100 percent on 4 dollar silver than pay 10 percent on 40 dollar silver.
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Pillar of the Community
United States
808 Posts |
Quote:APMEX, for example, is currently advertising $100 face-value bags of 90% silver Washington quarters (common dates in average circulated condition) for "as low as $4.29 per oz over spot!" $4.29 per ounce over spot for junk silver is not something to be bragging about, in my opinion. I like 90% silver just fine, but not at that price. Thanks for your thoughts on commissions for ASE's, too. I just hadn't adjusted my expectations to match the new price levels. |
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Pillar of the Community
 United States
3670 Posts |
I search similar to T in this way.... I first click AUCTION verses buy it now. Why? Buy it nows are pre set with profit figured in 95% of time. Notice I do say 95% of time as 5% you will find golden deal on buy it now as someone needs cash fast and prices it low knowing with a day or two one will catch on and grab it.... Case in point if one is to hunt for a 10 oz bar on ebay, fist check buy it nows then running auctions with your most key part here it is the PRICE range selector.... Whatz that mean? You put in 175 (dream price 175 but why not check or running auctions newly listed often not bid up yet) low point and 250 high point if you are looking for real nice 10 oz. silver premium bar between say 225 and 250.... This ELEMINATES all the BS clad junk and other items you dont want and QUICKLY allows one to find the BEST possible current price be it buy it now or runing auction... Most deals again found on the running auction but say 5 to 10% of time homeruns hit on buy it now using simple search technique desribed above.... Edited by Silverhawk74
06/27/2013 3:15 pm
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Pillar of the Community
United States
1119 Posts |
I agree with the junk being priced too high, but I can understand $4 premium on ASE. Its gotta cost at least two or three to mint them and deliver them through the system |
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Pillar of the Community
United States
1796 Posts |
If silver hit $4/ozt, I'd be dropping $400 for 100ozt in "junk silver" coins to begin a much easier silver set with my kids. :-)
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Pillar of the Community
Canada
3692 Posts |
LOL if gold was at $200, even the plebs will back up the VW Beetle.
$4 silver, though, will give the perception that the metal is way too volatile. It may just scare away investors. Because face it, anyone in this game is an amateur investor.
I think $9 might be foreseeable, which would cause some panic selling, something that is already happening with gold. $750-800 is probably where it will sit, then again this is a numerology game. Not everyone sees the metal for what it is, they instead see a number behind it. I see an ounce - but others see $20. I think about what can be done with an ounce of pure metal besides just selling it or holding it. The lower prices just allow you to take more for your money and lower your costs.
^Not an expert, just an observation.
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Valued Member
United States
403 Posts |
At $4.00 I would buy all I could get, may sell my wheat pennies I have had since I was 12
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Pillar of the Community
United States
3789 Posts |
Silver at $4 dollars an oz carries a bit of risk.
Why?
In this case, its more of the fact that the money you are putting into silver, could very well just sit idle for months, years and perhaps even decades, especially if you were just buying straight up bullion.
From a traders perspective, I wouldn't touch nor put a single dollar into it. As an investor, I wouldn't be interested either.
The only way I could see someone doing it, is if they had nothing in the way of PMs, and they allocated a percentage of money they were investing into say some coins, say proof eagles or BUs as a % of their portfolio. But after that amount was established, that would be it, no more money into PMs because you need money to grow, not sit and idle.
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Replies: 71 / Views: 8,601 |
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Posted 06/27/2013 08:33 am
