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View Full Version : Someone explain please. I dont get it


John524
09-02-2011, 09:56 PM
Just checked in on the bay. 2011 silver maples in airtites going for $55+ in numerous auctions. Who are these people paying that? Makes me want to break some mint tubes and start listing.

Fusion
09-02-2011, 10:17 PM
Just checked in on the bay. 2011 silver maples in airtites going for $55+ in numerous auctions. Who are these people paying that? Makes me want to break some mint tubes and start listing.

After the fees you'll be darn close to spot - ha! But I agree, people are so emotionally rocked in eBay. Set you limit, stick to it, have a bunch of bids going at once knowing you'll hit 1/10 or so. I personally do buy there anymore but will use it to see what people end up paying like you did. Too funny.

Long Term Investor
09-02-2011, 10:19 PM
Had a hard time believing this, so just logged into the bay and watched a 2009 maple leaf go for $52.99 plus $1 something shipping. Weird.

AgAuCaliente
09-02-2011, 10:21 PM
Fees aren't that much on larger purchases...on 5K, you're talking about 3% including PPAL and Bay listing fees/final value fee for the seller. If you're selling one at a time, there's a complicated formula, but their final value fee is capped at 100$. If you think about that with a chance to sell near LCS prices instead of taking the lower offer from the LCS, it's sometimes very useful.

ltngstrucktwice
09-02-2011, 10:30 PM
Some buyers also have ebay bucks to burn so they aren't paying the full amount in cash.
I've read about sellers who have separate buying IDs and make bullion purchases with ebay bucks and turn around and sell the item out of their store or relist as an auction.
Also some states charge tax on bullion so its still cheaper than what they would pay at LCS.
And then there's the paper trail at the LCS..

PaulRevere
09-02-2011, 11:02 PM
When Provident ships for $6.95 minimum, Apmex is $12.95 minimum, Kitco has a $1,000 order minimum, & SilverTowne sells out quick although they have free ship on their bars some people may find it cheaper to purchase 1oz or 2oz at a time through ebay considering the $47 per oz going rate at todays prices though the major online dealers. Not everyone can afford to by tubes and are just getting what they can at the best price if they don't have an LCS to deal with. I personally have 2 LCS within a 30 mile radius and gas ain't cheap but I am a bulk purchaser when I get the itch so paying $15s/h on 20oz isn't as bad as paying $7s/h on 1oz.

ebay prices are insane sometimes to those of us that buy bulk online but for some paying $52-$55 with free s/h with ebay bucks back and not having to wait 3-4 weeks for 1oz to arrive via online dealer may be all they can do.

GJG_Gold
09-02-2011, 11:37 PM
When Provident ships for $6.95 minimum, Apmex is $12.95 minimum, Kitco has a $1,000 order minimum, & SilverTowne sells out quick although they have free ship on their bars some people may find it cheaper to purchase 1oz or 2oz at a time through ebay considering the $47 per oz going rate at todays prices though the major online dealers. Not everyone can afford to by tubes and are just getting what they can at the best price if they don't have an LCS to deal with. I personally have 2 LCS within a 30 mile radius and gas ain't cheap but I am a bulk purchaser when I get the itch so paying $15s/h on 20oz isn't as bad as paying $7s/h on 1oz.

ebay prices are insane sometimes to those of us that buy bulk online but for some paying $52-$55 with free s/h with ebay bucks back and not having to wait 3-4 weeks for 1oz to arrive via online dealer may be all they can do.

i buy a fair amount on the bay (spot or close to it only) and agree with you to a point but i see 20 coin rolls go for insane amounts as well....the gold premiums are also nuts. i don't get it......

GJG_Gold
09-02-2011, 11:40 PM
Why waste time with fleebay?

Just buy and sell using large reputable e-tailers such as T**ving with thin spreads, no ship costs and next day deliv.

The Scarecrow might say, "Simply, a no brainer".

S

done that as well but it's tuff to cost average when you have to spend 22k a whack :D

Mr Nobody
09-02-2011, 11:51 PM
Not everyone can afford to by tubes and are just getting what they can.

Namely, me :D. But those eBay prices are a bit outlandish. My opinion is slot of it is people buying silver just because someone told them they should get some and don't know to look up spot price they just buy.

A relative is in town for vacation. He brought up golds $1,900+ surge and eventually said a neighbor that loaded up on gold in the 90's sold a few oz's and bought all silver and told him in the next 5 years silver will be the metal to own. He asked me my opinion, (stupid question), and I refered him to a few websites, including this one.

The word is getting out more and more. I hate to say it but some people on @m@s0n have some good prices from time to time.

jfrank2003
09-03-2011, 12:47 AM
you can still find a bunch of 90% stuff under spot on there... picked up a lot yesterday with a franklin half, 3 quarters, and 2 dimes for $40 (valued now around 48.46) and a huge lot I picked up last week for $10 under spot, is now valued at $30 more than I paid for it.. so im quite pleased.

dan8802
09-03-2011, 02:09 AM
Some buyers also have ebay bucks to burn so they aren't paying the full amount in cash.
I've read about sellers who have separate buying IDs and make bullion purchases with ebay bucks and turn around and sell the item out of their store or relist as an auction.
Also some states charge tax on bullion so its still cheaper than what they would pay at LCS.
And then there's the paper trail at the LCS..

Theres no need for a separate account to spend ebay bucks and sell. And those people must be spending thousands to have earned enough ebay bucks to buy an ounce and then resell it and come out ahead after 10% in fees + shipping/ shipping materials.

Also, no paper trail at my LCS, i pay in cash... There's more of a trail on ebay, with paypal if your using a CC or bank transfer. It costs money to buy Greendot money packs to add cash to paypal. So unless you have a high paypal balance, you're going to be leaving much more of a trail then making a purchase locally (if paying cash locally)