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Buying Silver On Ebay.

 
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Author Previous TopicReplies: 9 / Views: 1,104Next Topic  
Valued Member
United States
444 Posts
 Posted 08/02/2022  03:16 am Show Profile   Check Chopped Triumphs's eBay Listings Bookmark this topic Add Chopped Triumphs to your friends list Get a Link to this Message
Does buying silver on eBay effect either the spot price or the market in general? I've seen so much of it being sold there.

Just wondering.

Bedrock of the Community
Australia
20370 Posts
 Posted 08/02/2022  03:53 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I think it would be the other way around,-
the spot silver market directly influences the eBay pricing.
Bedrock of the Community
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United States
73567 Posts
 Posted 08/02/2022  10:24 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Absolutely the case.
Pillar of the Community
United States
9974 Posts
 Posted 08/02/2022  10:35 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
No. Ebay prices will reflect the market or spot price plus the markup to full retail (in most cases). The vast majority of the spot price is established by the commodities markets trading SLV (paper silver so to speak).
ANA #R3154474
Pillar of the Community
United States
3402 Posts
 Posted 08/02/2022  12:32 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
I just don't understand the concept of paying up to 30% of spot as a premium to buy a commodity. If you buy 10 ounces for say $250 and you sell it for $30 an ounce...you got $50...less tax (if you pay tax!!?). If you have 1000 ounces you have $5000 profit. A 1000 oz takes up space...are you that great at market timing...and now you have to buy again in an up market. Can't beat dollar cost averaging in equities. IMO.

KK
Valued Member
United States
444 Posts
 Posted 08/03/2022  03:10 am  Show Profile   Check Chopped Triumphs's eBay Listings Bookmark this reply Add Chopped Triumphs to your friends list Get a Link to this Reply
Thanks for the replies, it's appreciated.
New Member
United States
6 Posts
 Posted 08/03/2022  10:00 pm  Show Profile   Bookmark this reply Add TakenByForce to your friends list Get a Link to this Reply
I have had good luck buying junk & world silver coins on ebay. 90% sucks on there, 80% canadian silver is alright, and 40% and 35% american are typically within 5-10% the premium you would get paying with bank wire at any dealer website. Fine silver isn't good like 10 oz bar for $4 over spot right now.

Higher premium over what you can find on monument metals, APMEX, but no shipping minimums + paying with credit card.

Also if you have ebay credit card you get 3x, if you qualify 5x points per dollar spent at ebay, 1500 points = $10 so if you buy $300 of silver for $24 per ounce (lets say $20 silver spot) so 12.5 ounces of silver then you are effectively buying at $290 so $23.2 per ounce or around 3.2 over spot which isn't terrible.

Ebay prices doesn't really affect spot, but I am pretty sure they affect junk & world silver prices at least to some degree.

P.S. Does any retail even really affect spot price that much at all?
Edited by TakenByForce
08/03/2022 10:05 pm
Valued Member
United States
475 Posts
 Posted 08/08/2022  3:41 pm  Show Profile   Bookmark this reply Add datadragon to your friends list Get a Link to this Reply

Quote:
Does buying silver on eBay effect either the spot price or the market in general? I've seen so much of it being sold there.


The size of the silver market is in the hundreds of billions of dollars or even trillions! The silver to be found in London's vaults alone is worth $48 billion. The silver market is much bigger and more liquid so even large sales as we are seeing quite a bit of buying go on due to the lowered silver spot pricing still doesn't quickly make too much impact on the larger overall amount, so some might think its like trying to drain the ocean with a bucket or firehose.

However its been mentioned recently that physical inventory has been declining quite alot with the lowered silver spot price. Ronan Manly, of BullionStar, reports physical silver stockpiles in LBMA and COMEX vaults are at a 6-year low. If available physical inventory could approach zero, that is the moment when holding silver IOUs would not be the same as holding the metal itself. The inventory situation for the exchanges gets even more dire when accounting for how much of the reported stock is not immediately available for delivery because the metal is held by ETFs and private investors. If outflows in the next 18 months match those of the past 18 months, the available physical inventory could approach zero from all the buying going on. In such a scenario, a default on the futures trading exchanges may only be avoided if prices for silver rise enough to entice the holders of physical bars to part with them. In that case the spot price then is affected by so much buying of physical silver, including large marketplaces like ebay add to that. Ebay does not deal as much with large bullion bars however.
Valued Member
United States
444 Posts
 Posted 08/09/2022  03:13 am  Show Profile   Check Chopped Triumphs's eBay Listings Bookmark this reply Add Chopped Triumphs to your friends list Get a Link to this Reply
Hmmm, Thanks for the replies.
Valued Member
Canada
54 Posts
 Posted 10/22/2022  01:38 am  Show Profile   Bookmark this reply Add JadeDragon to your friends list Get a Link to this Reply
industrial demand, jewelry manufacterimg, coin and bullion producers and activities of the mines (increasing or decreasing production) drives spot, not little individual investors, stackers and what happens on ebay. We are the tail, not the dog here. Now beanie babies. that's where individuals on ebay impact the market value. It is all about what the next collecter/sucker will pay as there is no industrial demand.
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