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 Replies: 46 / Views: 5,318 |
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Pillar of the Community
United States
757 Posts |
I'm selling silver eagles for 27 a pop on ebay...and that's NOT including shipping. it's almost ridiculous the way people are buying up metals...don't they notice that everyone is SELLING if they have them? last week I sold a gold eagle for about 200 above spot, also. any thoughts? |
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Valued Member
United States
487 Posts |
When I buy bullion and junk coin. The most premium over spot, the most I'll pay is 10 trying to keep it to less than 5 percentage points.
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Pillar of the Community
United States
2661 Posts |
I guess in order to sell you must have a buyer. Auction sites are crazy places.
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Pillar of the Community
United States
3592 Posts |
yeah..the buyers are making a profit while they can....not really a sign of anything except good business....the buyers are betting on metals rising even more and the sellers are betting not.
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Pillar of the Community
 United States
757 Posts |
oh yeah, I'm with you on that maineman, but you know when they're buying ABOVE spot, they've got to have it go up enough to cover the extra they've spent on it.
i think you mentioned on another thread that the metals market is driven by fear now, so I'm guessing that's really what this is, and they could care less whether they pay a little too much.
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Valued Member
United States
55 Posts |
People tend to be a little crazy right around election time. Both sides have been talking for months about how bad the "other guy" is. Not surprising that people think they are trying to choose the lesser of two evils and we're screwed either way.
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Pillar of the Community
United States
3592 Posts |
oblaka..the funny part is that the greedy ones always jump in after the fact...it happened with the dot.com stocks and with the housing exactly the same way. They see a run up and think it's a sure thing, but the trick is being in on the ground floor.If you think about it, it's just like those pyramid schemes. And Dvorak, unfortunately, you are correct...and we need more than elections to fix the problem.
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Pillar of the Community
United States
757 Posts |
on hundred percent agree dvorak.
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Valued Member
United States
497 Posts |
People I have talked to about overpaying say that according to their "formula" they predict it to reach up to $100 an ounce. Now I don't think that will happen but hey, this is Amercia; they have a right to belive whatever they want wether its good or bad.
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Pillar of the Community
United States
687 Posts |
People get the bidding fever too - especially people who are new to ebay. And there are a lot of less that savvy coin collectors out there who have no idea what they're buying. Good for you; bad for them! |
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Pillar of the Community
United States
757 Posts |
andrew who, exactly have you been talking to? curious to see how they come up with the 100 an ounce theory.
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Valued Member
United States
83 Posts |
I have seen people paying above spot on e-bay for years. If your selling eagles for $27 then that is close to current spot price. (today it is $24.75)
The key is how much did you pay for the eagles?
I started buying silver again back in 2005 and most of it was at average $7.50, my how times have changed.
I think I will wait until it hits that magical $100
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Bedrock of the Community
United States
10982 Posts |
One thing I wonder about ebay bullion sales, and this includes big dealers, is how they let precious metal coins go for melt value or maybe +5% when the ebay fees and shipping & handling run at least 10%? Many sellers take well under melt value (after fees) and I've never been able to figure that one out. Heck some of the BIN prices are at melt or slightly more and once your fees are paid, you could get more just sending them APMEX. |
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Pillar of the Community
United States
880 Posts |
I think it's because spot is just a price. You still have to have a buyer willing to pay spot. I'm sure these people bought there silver well below spot prices so they're turning a profit.
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Pillar of the Community
United States
3592 Posts |
bherring...most of the sellers are probably like me and bought this summer or earlier at around $17 an ounce...not hard to make up the seller's fees and still turn a nice profit as fast as it has risen this year.
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Pillar of the Community
United States
757 Posts |
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Replies: 46 / Views: 5,318 |
Posted 10/30/2010 12:31 pm
