Well This Is The First Time Ever - Coin Community Forum

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Author	Replies: 5 / Views: 767
glenmorenee Valued Member United States 311 Posts	Posted 03/20/2024 8:28 pm This is probably the first and only time this will ever happen to me. I always have several gold coins on my ebay watchlist, typically from the big online sellers. My favorite seller is Liberty and I can tell at a glance what a gold coin would cost. Krugerrand always spot + 75-100, a buffalo always spot +150. I also search other sellers that are in this price range. I came across a slabbed older panda(still 1ozAu) BIN for $2250. Spot was about $2150 so that's not bad! But gold surged today to $2185 and next day trading it is already at $2202. And then I get one of those automated offers from the ebay seller for the slabbed panda discounted to $2140! I checked and rechecked the item details and spot price and it looked legit so I took a chance. Report this Post to the Staff

Coinfrog Bedrock of the Community United States 94367 Posts	Posted 03/20/2024 10:17 pm Clap, clap, clap! Report this Post to the Staff
jbuck Moderator United States 187507 Posts	Posted 03/21/2024 09:14 am Well done! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Marv65 Bedrock of the Community United States 10472 Posts	Posted 03/21/2024 12:40 pm Quote: offers from the ebay seller for the slabbed panda discounted to $2140! Nice! It was probably from his older stock when he bought it for much lower than today's spot price and still made money on the deal. Report this Post to the Staff
jecz79 Pillar of the Community Portugal 655 Posts	Posted 03/21/2024 9:09 pm Dealers want to move stock. It is the only way they can make a profit. Coins that had no buyers for months flew today. Here I saw a buyer lay out a pile of cash and take 10 double eagles from one shop that had them in inventory since last year. Not even nice eagles. That made one happy dealer. And he sold them a little below spot. Higher prices make people buy? The economists are wrong. It may also have opened a place for me to sell here those I do not want, in a while. Empty stocks? Nice. Report this Post to the Staff
glenmorenee Valued Member United States 311 Posts	Posted 03/26/2024 12:53 am Yes, there seems to be 2 ways most often used by the larger ebay sellers. The big guys like APMEX, Liberty, et al. use dynamic pricing so their offerings maintain a certain premium to spot. There must be an extra ebay charge for this. And other sellers can just pick a BIN price at a level where the profit versus their cost basis is acceptable. Happened by my local gold seller today. His business is gold and bullion coins to the jewelry trade. He said the recent surge to new highs for gold has brought out the sellers. Before buffalos consistently held a high premium but that has evaporated. Sellers wanted to take profits on what they've been holding and get more liquid with good old USD. So more selling + not much buying = less premium. I noticed that Liberty buffalos are spot +120 and krugerrands are spot +75, both a little less than before the rally. Report this Post to the Staff
	Replies: 5 / Views: 767

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