Quote: I don't understand why people keep in saying it's worth $7, that makes no sense at all. It's worth whatever someone is willing to pay for it. I want to smack the idiot who retired to cash in his coin at the bank when it's worth at least $25 on the market. The maples are going for $40 in some cases. This discussion about fiat currency is meaningless, I've made enough money flipping nclt this month to actually buy a few tubes of bullion, which I have.
Nclt coins were never meant to be legal tender, it's a work of art that's worth whatever the market dictates. You wouldn't measure a painting or sculpture's value based on the content of it's paper or material would you?
Indeed, NCLT coins value is what people are willing to pay for... and it's correct for ANYTHING in this world. Even a 100$-bill is not worth 100$ if the cashier in front of you doesn't want it. In that specific case that you REALLY REALLY need something in a store with a 35$ price tag and you only have a 100$-bill and the cashier keep telling he can't accept it... your 100$-bill doesn't even worth 35$.
The fact is there is a big part of the value of this 20$ for 20$ serie that lie within the 20$ face value! Meaning that if it was a 2$ face value... I really don't think it would sell in the 30-40$ range.
I would not have bought any of these coins myself, but the first Maple (cause I really like the design) at 20$ if it wouldn't be for the face value. So remove this 20$ face value and it makes much much less demand for this coin (as I am one less... and I'm not the only one).
The fact is the value will still remains high, because besides us and a few, people will always think it's a real 20$ face value, that they actually can go and buy a drink in a club at any time!
Quote: UPDATE: Just looked at SML are selling for $27 here for those interested 10 left ebay Item
That auction is laughable...buy 1, and shipping in US is $15 (total $42/oz. In Canada - $30 for shipping.... You have to look twice at these auctions and see to total. This guy knows he won't make any on the silver, but he's making a killing on the shipping.
unless they guy ships priority overnight and packages each purchase individually, that kind of shipping price is just a poor attempt at either luring in buyers that don't know any better or dodging ebay fees (but ebay already caught on to this a few months ago, adjusting to charge outlandish fees on the shipping amount as well)
That was the point I was trying to make. I will often do the "make an offer" with my offer being "I'll buy X number of those, if you charge exactly the shipping you spend" more often then not, my offer is declined.
I do agree shipping should be extra, but people shouldn't be gouged on it. I don't mind spending $5 if shipping is say $4.50...but when you know they can ship a single coin cross country - or more easily a dozen in those 'flat-rate' envelopes then turn around and charge price per each on shipping is just ludicrous.
^ as it was stated earlier in the thread ebay and paypal (which is the same company) can charge high fees (a combined 10-15% on sales and shipping for coins). If the seller is charging melt value for the coins and exact shipping cost he/she will be losing money. They NEED to charge 10-15% above the actual cost just to break even. Add another 10-15% to make the profits worth while selling the items. Everybody is in business to make money.....not lose money or break even. Should they lower their shipping rates? If they do, they will have to charge more for the item. It will all be the same price in the end, its just about how it is broken down.
Quote: Should they lower their shipping rates? If they do, they will have to charge more for the item. It will all be the same price in the end, its just about how it is broken down.
No disagreement there. If he sells one coin and gets $15 for shipping he will make over $9 profit. Cheaper to buy bullion anywhere else than on ebay. $9 profit over spot is to high. The final sale price is $15 over spot.
Even if he sells ten coins the over spot value goes down to around $6.00, and that's still high. He's making good money.
^ You are correct......if this seller was a large volume seller. In that case it would be worth their while to make small amounts of profit on MANY items. However, this seller has only 60 ebay transactions. I didn't bother checking to see how many of those are purchases vs sales, but either way they are not doing volume sales. For a small time seller, it is not worth it to put in the effort to make $2-3 profit per item.
I'm no expert however, I would agree that if anyone wants to sell the supposed FV of these coins I will be more than happy to take it off their hands. A lot of the comments remind me of one the first times I realized I was old. I can't remember the specifics but another customer in line wanted to pay for something with an old two dollar bill and the "kid" wouldn't take the money as he never had seen it before. Point being that it seems inexperience on the teller and manager at the time created the issue vs the FV not really being what it claims to be. Just my opinion though.
That is why it is called "Non-Circulating Legal Tender". It means that any business (including a bank) is not obligated to accept it as currency. That would be like taking a $500 gold piece into a bank and thinking that you would get same value for it. I don't know why anyone would want to spend these anyway.
To those talking about ebay shipping fees, a couple of notes:
1) A seller charging anything other than the ACTUAL cost of the postage plus a reasonable materials cost (Cannot include gas to drive to post office, or inconvenience, etc) is breaking ebay policy, and should be reported for fee avoidance. Sellers do this to keep bidding, and thus ebay fees, low, to make more off a sale, which is against ebay policy.
2) Any buyer buying an ebay item has the right to ask for a receipt for any and all postage charges. I have gotten amazing deals in the past by bidding on an item which is fraudulently listed (see above), and then messaging the seller at the auctions conclusion with a message stating something like: "I would like a postal and materials receipt included in the box, or a scan emailed to me, or I will be immediately contesting the paypal charge upon receipt of the item". This usually makes them back down.
So in conclusion, if you don't mind being a tad bit confrontational, you can get *any* item on ebay for the *actual* shipping cost.
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Posted 07/09/2012 09:34 am
