You Couldn't Tell It By EBAY!
AlexinPA
Posts: 1,458 ✭✭✭✭✭
The Market closed with a big drop in precious metals but if you look at the Buy It Now prices on EBay you couldn't tell it. I was browsing Gold Bullion coins and came across an American Buffalo proof the guy wanted $1,860.00 for. The minute I hit the Watch button the price went to $1,900.00! Silver and Gold are no where near melt; that's for sure. I personally hope gold keeps on dropping.
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are they selling though? I had some auctions for foreign silver not do great and another 2 pending that I'm curious about . They had been bid on earlier I'm wondering if the bidder wins and decides they overpaid they will bail out. I will be happy to let them out but I'm curious if its a good idea to even list anything.
Not specifically PM's , just anything , will people stuck at home bid or will they think they need to not spend?
Should I post a few cases of MRE's for huge profits or will I wind up needing them?
What are others doing with regards to ebay listings?
Yup, gotta exercise some common sense and self control since this event is worldwide. Kinda funny that a hunk of metal is perceived as more or less valuable by the hour. Peace Roy
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Got a call for 4 -100 ounce bars yesterday. Just sold them to another dealer a couple weeks ago for $1810. Guess who is not selling ? I'm not, nor is he. And the guy wanting them ? Well you know the story : " He who hesitates, waits "
A few people are going to be waiting for a while, I suspect. You know strong hands.
Don't know what to say bronco. I would think that if I sold my silver closer to melt I might have a chance of getting rid of it. Sure I'll take a loss but it's been sitting there all these years and no 'Big Bang'. I see sellers still wanting $25.00 per ounce; it's crazy. I think it best to follow Namvet69's good advice. Hang in there.
BTW: Got a few cases of MREs myself. You can take the boy out of the Army but you can't take the Army out of the boy.
@AlexinPA so I just had a flashback to eating LRRP rations when I had my a** in the grass. I liked them! Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
have you looked at MRE's on Ebay? A few weeks ago they were up to 200! I have about 15 cases I paid between $40 and $65 for last year.
Wow... MRE's are that expensive? Well, I guess it is part of the general panic. I have not seen gold or silver 'sales' react to the drop in melt prices yet.... I think most consider the dip temporary. Cheers, RickO
Price of PMs is decoupling from paper spot price.
Temporary or permanent?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
63-83 Army: Everything from cans (C Rats) to the initiation of the MRE. You can say what you want but ya still have to carry that little bottle of hot sauce - LOL!
What good are low prices if no one will sell? APMEX is asking $150 for $10 face junk silver or was last night.
The price is 15x as far as they are concerned . Decouple away lets see how this works out
One way to track the real price might be to monitor the sold prices for various bullion on ebay.
I knew it would happen.
Looks like some 10 oz bars are selling on ebay for a bit over $20/oz.
I knew it would happen.
Decoupling - trying to find someone to absolve and absorb your monetary loss willingly...
Rolls of silver quarters or silver halves are running around $18/oz to $20/oz.
I knew it would happen.
Its very interesting , i want to see how far it goes . I have a booth at an antique place . I put a bunch of foreign out friday ,a few dozen 25 pesos at 12 each , a dozen 50 francs at 20 each , a roll of canadian dollars for 200 . Ill stop by wednesday and see if anything sold .
I also laid out a roll of 60s era silver proof quarters for 4 bucks each as a goof .
If people seem desperate for.physical i am going to lean on them with all the weird crap i own. A sack of greek 20 drachmas , a smidgen of austrian olympic commems , canada fishie dimes every thing id like to be rid of basically
Decoupling means you found them. LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
These dealers don't want to take a loss on their inventory; so, they keep the price high either hoping for a sucker to buy or hoping that the spot price will recover. Claiming that the paper and physical markets have decoupled at this point is wishful thinking. In fact, a silver mine hedges by selling in the so called paper market. I don't believe silver mines sell directly to any of your favorite dealers.
Now that ain't workin', that's the way you do it, let me tell that guy ain’t dumb...
maybe get a blister on my little finger
don't forget the FED, "money for nothing."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
and your chicks for free
I knew it would happen.
I see it as a split market on these PMs....
You have people WANTING to buy at the lower prices.
You have some people HAVING to sell at lower prices as they are scared and want/need cash.
Then you have people that believe that this is a temporary dip and they likely paid more than currently things should go for.....and/or they don't NEED to sell right now; so they are keeping the prices higher. Not necessarily for "suckers" but as an opportunity if someone REALLY wants them and is willing to pay what the seller believes they are worth.
I'm kind of in the 3rd category myself. If I were selling (I have about 10+ rolls of 90% (193x-1964) quarters I have been thinking about selling), I wouldn't let them go for under 12x fv myself. That's my price. That said, if I sold on ebay, I would have to bump that up and account for the fees, so, probably a nudge over 12xFV.
Now, if the PM market stays down for an extended amount of time, I think things will adjust downward a bit.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
i always think of the market as sticky on the way down never on the way up.
Sellers never lower except grudgingly they always reprice upwards instantly.
It used to annoy me when I had no metal but I'm ok with it now
I have some BU and Proof rolls of silver quarters & halves on ebay for $180. I think I bought some of them for just over $100 the last time that silver was around $12.00.
That's as low as I'm going with my offer price. Depending on how low it goes, I may reverse my position and start buying if the prices around $12/oz become real.
Right now, I don't believe that they are real. What is it called when you detach from reality? Oh, I remember - they call it delusional.
I knew it would happen.
$12.04 Ask today 3/18/2020 and I AM NOT going to pay 24.00 per ounce for it.
The object of the game is to buy when it's low and sell when it's high. The rule applies to everyone not just dealers.
I still remember silver at $4 and nobody wanted it.
Saw on the news where some florist made up some bouquets of flowers using 6 rolls of toilet paper. Price $75.00.
2 plays for a dollar, what a bargain!
A gold mine. Was to WalMart yesterday and not one roll!
i had an auction for austrian silver close on ebay . just over 4 ounces sold for 65$ , that was a 10 day auction that started at a penny before all this began.
Haven't sold any silver at the antique store , but no one is really going to the store to even see the stuff, and next week will probably be worse for foot traffic.
Upon hearing that copper kills viruses I put a bowl of big copper and bronze ANA , coin club etc medals with a free take one sign and only 2 are missing
. 2 people at least passed by
I've sold 15 ASEs for $24.80 ea. at sub $12.40 spot that were not selling for the same price when spot was at $18+.
I'd say we are seeing some panic buying on the physical stuff.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey