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Silver Price - Spot Vs Actual Sales

 
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Valued Member
United States
69 Posts
 Posted 03/23/2020  12:05 pm Show Profile   Bookmark this topic Add TimNH to your friends list Get a Link to this Message
Hi folks - question - with the low current spot price of silver ($13 at the moment), I thought I'd check eBay for 90% coins, see what they are really going for.

Answer: around $21-22/oz!
https://www.ebay.com/sch/i.html?_fr...H_Complete=1

What do you make of this, have you ever seen such a gap between spot & real world sales?
Valued Member
United States
160 Posts
 Posted 03/23/2020  12:53 pm  Show Profile   Bookmark this reply Add river4449 to your friends list Get a Link to this Reply
it is quite a large gap, eBay sellers just like coin-shop owners, need to make money. Selling ounces of silver for spot price that is as low as it is now would leave absolutely no room for profit. That doesn't include shipping costs (if not paid for by the buyer). with that in mind, if you have the resources to do so, I would recommend buying while prices ares still low all around, given the current economic situation.

Jasper
regards, Jasper- "river4449"
Canada 5 cent silver collector.
PMs are open, whether you have a question or simply wish to talk.
Valued Member
United States
437 Posts
 Posted 03/23/2020  3:03 pm  Show Profile   Bookmark this reply Add coincollector123 to your friends list Get a Link to this Reply
I have been going to my local coin stores and buying all their junk silver coins I can get. When silver was 14 an ounce I picked up probably about 20 oz of silver (both US 90% junk coins and world silver coins) and I tried to choose ones that I knew usually carried better premiums (Such as old WWII German silver coins and US Philippine coins). I was lucky enough to purchase another 34 oz (some guy had to sell his silver coins for cash) for $469 and super lucky to get another 36 oz for $513.

The best way to get money as close to melt as possible is to find them at local coin stores. If you purchase on Ebay, as River4449 said, there are shipping costs and also EBAY takes fees based on the sale. So if they want to sell it at melt you will probably pay close to 4 or 5 dollars more than melt.

Also make sure you support your local coin store as they might be hurting the most from this. Call them to see if they have any silver or junk silver coins and to support them. You might be lucky to be after a customer who needed to sell silver coins.

This is the best time to buy silver. Call around and support your local coin stores before they are forced to close (I live in Ohio and the Governor just called for non essential business to close tonight)
Valued Member
United States
243 Posts
 Posted 03/23/2020  4:33 pm  Show Profile   Bookmark this reply Add TMCD75 to your friends list Get a Link to this Reply
I would think it's the worst time to buy silver simply because of the greedy premiums being charged.

If this is treated as an investment, I just don't think you can or should give these people these gigantic premiums. You'll never make your money back!!
Valued Member
United States
370 Posts
 Posted 03/23/2020  6:28 pm  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
This has been interesting times. I'm new to collecting silver and thought I could buy when the price dropped. I was surprised to see "out of stock" but the explanations here makes sense.
So playing devil's advocate about the spread or physical silver over spot. Does it really matter if Silver Eagles sell for a premium if you can't buy at a low price? Later when the prices are higher you'll be happy to buy again at the same price offered today. The only difference is you'll be able to say you got a good deal, but did you really - same price?
The other scenario is the silver price remains low long enough that the dealers have to sell but I doubt that will happen.
Edited by Lionel90
03/23/2020 6:29 pm
Pillar of the Community
United States
3887 Posts
 Posted 03/23/2020  6:54 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I've seen it several times in the last dozen years. Quite natural, in the modern world.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Pillar of the Community
United States
3887 Posts
 Posted 03/23/2020  6:58 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Lousy investment! Who 'invests' in silver?
Are you kidding?
I like PM's and I've played for 45 years.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Pillar of the Community
Canada
1047 Posts
 Posted 03/23/2020  7:01 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply

Quote:
The other scenario is the silver price remains low long enough that the dealers have to sell but I doubt that will happen.


They will sell when their replenishment cost makes it viable to trade nearer to spot. If they can sell 1000oz at $13.50 and lock a supply order for 1000 at $11, they will.
One of the problems is that their suppliers can't deliver any product to them to restock either, so there's no spread to me made, and they won't have any inventory if they take the loss and sell. Better to hold tight and wait for prices to rise.

This is the problem when you let all the tricks and tools of the market manipulate a paper price, and it loses all relevance to physical price.
New Member
United States
1 Posts
 Posted 03/23/2020  8:08 pm  Show Profile   Bookmark this reply Add TopPopSetBuilder to your friends list Get a Link to this Reply
Stocks crahsed, paper was dumped to cover margins, demand for physical skyrocketed in panic reaction to national circumstances, physical supply diminished, premiums rise on falling supply as demand is holding constant if not increasing still!

Valued Member
United States
370 Posts
 Posted 03/24/2020  07:14 am  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
1cent If I can't buy a few at low cost, then dealers have the same problem x1000.
Following the supply chain back to the mint. Does the mint ever drop their price based on lower spot prices?
If not then someone is losing money when I buy low.
Edited by Lionel90
03/24/2020 07:15 am
Valued Member
United States
280 Posts
 Posted 03/24/2020  09:40 am  Show Profile   Check beem's eBay Listings Bookmark this reply Add beem to your friends list Get a Link to this Reply

Quote:
I would think it's the worst time to buy silver simply because of the greedy premiums being charged.


It's not greed, it's called "price" which is decided by supply and demand. If you think the paper price is all that matters then buy paper. There's a reason you prefer physical, this is it.
Bedrock of the Community
United States
19374 Posts
 Posted 03/24/2020  11:59 am  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Spot price is for "paper" silver. The actual market sets the price for physical.
Pillar of the Community
Canada
1047 Posts
 Posted 03/24/2020  6:16 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply

Quote:
1cent If I can't buy a few at low cost, then dealers have the same problem x1000.
Following the supply chain back to the mint. Does the mint ever drop their price based on lower spot prices?
If not then someone is losing money when I buy low.


They do eventually, once the cost of the physical silver they source to mint into bullion drops lol The whole supply chain is gridlocked.
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