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Why Did People Pay So Much Over Spot...

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SilverCoinBoi's Avatar
United States
458 Posts
 Posted 01/03/2012  9:46 pm Show Profile   Bookmark this topic Add SilverCoinBoi to your friends list Get a Link to this Message Number of Subscribers
http://www.ebay.com/itm/32082229524...t_500wt_1156

Why did they pay so much for less than an ounce of Silver?

I bought one of these a few weeks ago, and I paid less than 30 for it. Baffled.
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Canadian-Banknotes's Avatar
Canada
4944 Posts
 Posted 01/03/2012  9:52 pm  Show Profile   Bookmark this reply Add Canadian-Banknotes to your friends list Get a Link to this Reply
ALL silver is selling for way over spot right now. I have been looking for some Junk 90% silver (dimes or quarters preferably) and cannot find any around spot price.
Edited by Canadian-Banknotes
01/03/2012 9:55 pm
Valued Member
everything's Avatar
United States
493 Posts
 Posted 01/03/2012  10:17 pm  Show Profile   Bookmark this reply Add everything to your friends list Get a Link to this Reply
That art bar is in nice condition, may have had something to do with the listing as well, not to mention bidding wars that can crop up at any time. I thought the consensus was that many often pay to much for silver and/or gold on ebay.
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trout1105's Avatar
Australia
7096 Posts
 Posted 01/03/2012  10:19 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply

Quote:
ALL silver is selling for way over spot right now. I have been looking for some Junk 90% silver (dimes or quarters preferably) and cannot find any around spot price.


It depends on what the spot price is.
I can't see anyone willing to let their bullion coins go for the spot today when the consensus is that it will be a lot better later on in the year.
I personally wouldn't part with mine for $29.23 per oz.
These that are selling now either realy need the money or they have no idea what they are doing
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mitchhailey's Avatar
United States
1150 Posts
 Posted 01/03/2012  10:45 pm  Show Profile   Bookmark this reply Add mitchhailey to your friends list Get a Link to this Reply
Agree. Most folks I know aren't selling, and those that are will not sell for spot. A lot of people aren't going to let some manipulated paper market dictate how much they sell their silver for.
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mkfarm's Avatar
United States
667 Posts
 Posted 01/03/2012  10:52 pm  Show Profile   Bookmark this reply Add mkfarm to your friends list Get a Link to this Reply
Junk silver has been very easy to buy at spot over the past month. In fact you can get it from some of the internet sellers at very close to spot price. The average price current is around $21.76.

The bar is more of a collector issue and some people are willing to pay more to get them.
Valued Member
United States
302 Posts
 Posted 01/04/2012  01:29 am  Show Profile   Bookmark this reply Add mmerlinn to your friends list Get a Link to this Reply
You can find junk silver under spot if you keep your eyes open.

Last year I saw a CL ad for junk silver under spot. Dude had something like $65 face for about $1200 or so. Did not want to sell, but needed the money to pay for a funeral and wanted to sell immediately all at one time. Even though it was more than I wanted to pay (and really even more than I wanted to buy at one time), I jumped on it. I was able to keep about $15 face (free and clear) for myself after selling $50 face at spot after the price went up.
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MikeBrax's Avatar
United States
89 Posts
 Posted 01/12/2012  7:13 pm  Show Profile   Bookmark this reply Add MikeBrax to your friends list Get a Link to this Reply
Alot of times people dont even read the descriptions kindof crazy
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