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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 09/30/2008 : 15:45:00
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Why is an ounce of silver (average 2008 ASE in BU condition) selling for $18.10 (plus $3.00 shipping) when silver spot is $12.11? This just doesn't make sense...A $9.00 premium!?
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Nickelless
Administrator
USA
5580 Posts |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 09/30/2008 : 18:21:11
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| I guess my real point is that eBay seems to have a set price for silver that stands at around $17-19 per ounce regardless of market fluctuations. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 09/30/2008 : 18:28:19
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They must not know about APMEX, shhhhhh!! Let's keep it that way.
Actually, when you add in APMEX premium and shipping, it's nearly as high as what ASE's are pulling on Ebay.
Either way, you're not touching retail quantities anywhere near spot from any source. What I find really telling, is that there have been several auctions for 200 ASE's in the last few days, and they pulled $4200 - $4355!!! This while spot was around $13.50?
Spot is meaningless, IMHO. Possibly kept unrealistically low to dissuade people from buying by making them think they're being goughed?
I've put some of my silver in the hands of one of my brothers, and a very good friend with the caveat that it is not a gift, but only to be used WTSHTF.
Today was payday.....APMEX want $4.99 over SPOT for Eagles, hmmmm....
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Nickelless
Administrator
USA
5580 Posts |
Posted - 09/30/2008 : 19:12:49
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quote:
Originally posted by starwarsgeek171
I guess my real point is that eBay seems to have a set price for silver that stands at around $17-19 per ounce regardless of market fluctuations.
eBay doesn't have a set price--FRN-hungry sellers do. I think the real issue is that people think that eBay is the best place to buy stuff, not even thinking about **gasp** bricks-and-mortar stores that sell the stuff right above spot. eBay is just a magnet for lemmings. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 09/30/2008 : 19:19:29
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| I really hope to see silver get knocked down to about $9. I will be like a shark at my dealer's store. $11 Eagles...yum! |
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Nickelless
Administrator
USA
5580 Posts |
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 09/30/2008 : 21:11:59
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Yeah, I went ahead and bought 500 ASE when spot was at 13.15 or so, mainly because I waited and the spot price would drop and then by the time it dropped to the level that I set my buy price at(in my head) there were none to be had and the new shipments coming in, well they kept wanting more and more on the premium over spot. My guess is, that the worthless paper silver can drop where ever the heck it wants to but real silver isn't going to go very far, maybe even up further. 4.99 over spot now seems to be the current rate at most places. Wow, now I can remember not too long ago when silver spot was below just the premium rate. Sigh get em while you can because believe me there will be no such thing as an 11.00 eagle, can you imagine the demand that would cause????
Scotty |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 09/30/2008 : 21:39:22
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quote:
Originally posted by ScottyTX
Yeah, I went ahead and bought 500 ASE when spot was at 13.15 or so, mainly because I waited and the spot price would drop and then by the time it dropped to the level that I set my buy price at(in my head) there were none to be had and the new shipments coming in, well they kept wanting more and more on the premium over spot. My guess is, that the worthless paper silver can drop where ever the heck it wants to but real silver isn't going to go very far, maybe even up further. 4.99 over spot now seems to be the current rate at most places. Wow, now I can remember not too long ago when silver spot was below just the premium rate. Sigh get em while you can because believe me there will be no such thing as an 11.00 eagle, can you imagine the demand that would cause????
Scotty
Now that's a chunk of change, WHOO-WAHH! I'm salivating thinking of 500 ASE's, but alas, just ordered 25 Austrian Philharmonics as they are a little cheaper now, though not as attractive.
Oh well, slow and steady will get me there, right...? 
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 09/30/2008 : 21:41:09
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| THe "spot" price is not always the "market" price. The spot price is influenced heavily by paper traders of silver stocks but try finding any silver bullion at "spot" and tell us how that goes. EBay may be high but some buyers on there either don't know of places like APMEX, tulving, etc to buy bullion and/or they don't have a coin shop within a reasonable distance. Hope this helps. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 10/01/2008 : 11:18:26
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| I guess I am very lucky. My dealer will never charge more than $2-3 premium per ASE, and he has never refused to sell (or buy) regardless of prices (he may "forget" to show you his better specimens, but there's always something to buy). A fairly honest coin dealer! |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 10/01/2008 : 15:04:22
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| very few dealers have any ASE in stock, and little hopes of getting any. those that do generally are charging a $5 premium with a 500 coin min. order. the ebay guy is basically charging the going rate. now, i wouldn't pay that because i am a bit more resourceful but there is a serious shortage right now and that ebay price is representative of "market" although a few shops have not caught up yet. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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$ilver on eBay?
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