100 oz. Englehard Silver sells on ebay
jmski52
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I knew it would happen.
I knew it would happen.
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jmski52
Posts: 22,634 ✭✭✭✭✭
jmski52
Posts: 22,634 ✭✭✭✭✭
jmski52
Posts: 22,634 ✭✭✭✭✭
Comments
How few know that Silver is perhaps even RARER THAN GOLD!!! Sure, all the wealthiest people of the world know, and have significant investments in silver, including Bill Gates and his silver mines, but the average schmo on the street doesn’t have a clue! Fact is, CHINA ALONE will need ALL the world’s remaining silver in order to become a leading nation in the 21st Century! Silver is running out, so much so that last fall, at the annual Silver Summit Conference, Jason Hommel, the silver investment expert actually put a price on it…he said that silver would go to $8,000.00 an ounce!!!! Folks, this is not an exaggeration, or a misprint!! The world is virtually out of an irreplaceable commodity that is an absolute necessity for most high-tech applications. The evidence is there to back up these huge dollar predictions. Some predict a crisis is around the corner, but we in America will be the last to know! We will go to bed one night, and all will be calm, but by the time we get up in the morning, you will not be able to buy silver at decent prices EVER again! The price explosion will begin in Asia, next Europe will jump in, but by the time it’s our turn – TOO LATE!! Get your share NOW, while you still can afford it!
And yet, he's willing to almost give it away for $14 an ounce. What an act of charity.
<< <i>There does seem to be a premium for physical silver being established.
$2.00+ over spot >>
agreed....cheaper than most.....
There are two 100 oz Engelhards here locally....I hope to get on Tuesday....Saturday's quote price was cheaper than the one that sold on ebay....have no idea what tomorrow will bring...so who knows on price...but my guy is reasonable....(I think he will sell to me for $1.00 over, as in the past)
I think some prices for the big 100 ouncers on ebay will be forced down by these mere facts.....
That many people do not want to pay shipping......they do not want to "take a chance" with that size of a purchase (thousand dollars plus).....or of a bad deal...time waiting for payment clearing...bar shipping......chance of theft in mail and paperwork headache...........fake bar....problem seller....etc, etc on ebay.
Smaller bars on ebay are an easier sell....IMHO
Personally...I'd rather pick mine up locally....
<< <i>There does seem to be a premium for physical silver being established.
$2.00+ over spot >>
Ya think??????????
Less than 24 hours to go, and over $15.00
I knew it would happen.
roadrunner
<< <i>There does seem to be a premium for physical silver being established.
$2.00+ over spot >>
The seller made a mistake by having a one day auction ... I believe a 7 day auctions would have made him more $$$$
He also misspelled Engelhard ....
No, he didn't - that was me.
I knew it would happen.
<< <i>He also misspelled Engelhard ....
No, he didn't - that was me.
Ooops u b correct ... sorry ..
to other brands so i am not surprised it gets 2 bucks more then spot.
TD
Edited to add 100 oz. to the Englehard bar offer.
Thanks!
Mike
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
"Guys if you had the choice, which would you chooose........ a Engelhard bar or a JM bar."
I would buy the Engelhard but really it makes little difference.
Engelhard 100 oz. bar closes at $1,600.00 tonight on ebay.
By my reckoning, that is a 33% premium over spot. I'd say that there is a disconnect between physical silver and the Comex price tonight on ebay, and possibly elsewhere.
I don't recall silver bars ever carrying this kind of premium. Ever.
I knew it would happen.
<< <i>Guys if you had the choice, which would you chooose........ a Engelhard bar or a JM bar. Please let me know! >>
Both are equally as good.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Engelhard 100 oz. bar closes at $1,600.00 while spot silver is at $12.03.
Engelhard 100 oz. bar closes at $1,600.00 tonight on ebay.
By my reckoning, that is a 33% premium over spot. I'd say that there is a disconnect between physical silver and the Comex price tonight on ebay, and possibly elsewhere.
I don't recall silver bars ever carrying this kind of premium. Ever. >>
Have you ever been in a silver market that went down 45% in a few months?
The other weekend the premium was reported as $3 to $5. FC had a long thread musing about buying from a national supplier and flipping on Ebay because of the premium.
Maybe I am the only one, but I see these Ebay buyers as classic "dumb money." What rational person buys an investment where they need a 40% gain to break even? "Dumb money," I tell you. In most markets, after the stupid newbies have finished buying the dip that turns into a waterfall decline, and start yelling "get me out, I can't take the losing anymore" and dump at any price, in the case of silver perhaps below spot, that will be a much safer time to buy. IMHO, other opinions are welcome, but of course wrong
<< <i>
<< <i>Engelhard 100 oz. bar closes at $1,600.00 while spot silver is at $12.03.
Engelhard 100 oz. bar closes at $1,600.00 tonight on ebay.
By my reckoning, that is a 33% premium over spot. I'd say that there is a disconnect between physical silver and the Comex price tonight on ebay, and possibly elsewhere.
I don't recall silver bars ever carrying this kind of premium. Ever. >>
Have you ever been in a silver market that went down 45% in a few months?
The other weekend the premium was reported as $3 to $5. FC had a long thread musing about buying from a national supplier and flipping on Ebay because of the premium.
Maybe I am the only one, but I see these Ebay buyers as classic "dumb money." What rational person buys an investment where they need a 40% gain to break even? "Dumb money," I tell you. In most markets, after the stupid newbies have finished buying the dip that turns into a waterfall decline, and start yelling "get me out, I can't take the losing anymore" and dump at any price, in the case of silver perhaps below spot, that will be a much safer time to buy. IMHO, other opinions are welcome, but of course wrong
fyi, national suppliers were swamped with orders when the price dropped. i would still be waiting...
lots of lols though for the people who bought at that first drop and then have to wait 3 months for
it to arrive. total suicide.
i had a person on this board who said they would sell me some but as soon as i messaged them
to make the deal they no longer seem to be around and willing to discuss it. sigh!!
so in the end i decided to throw this large chunk of change, to me, to pay down the car loan
even faster. i have decided to simply buy silver as cheap as possible whenever it pops up...
like that olympic set i posted about. no rush to buy in an environment like this. silver is on pace
to be back at 7 bucks an ounce shortly. ;-)
Other than this one, nope. To be honest, I hadn't been tracking straight silver bullion on ebay, so I don't know that market as it pertains to silver bars. My thought in tracking some of these ebay sales is to get a feel for the spot market, God knows that Comex isn't a reliable indicator.
When market volume is very low, the pricing isn't really too reliable. When the number of transactions is higher, I expect that ebay is a good reflection of the market. Obviously, you want to get to know the market before taking a position, and before deciding what premium is reasonable.
Interestingly, I have been monitoring platinum on ebay fairly closely. Volume is way down, from a typical average between 500 to 600 auctions to around 200 auctions now. This time of year is when volume should start to increase. Instead, well over 90% of platinum auctions aren't even auctions - they are simply buy-it-now price offerings that are outrageously overpriced, imo. The platinum market on ebay seems to be frozen, i.e., non-functional.
Has fc conducted the arbitrage that his analysis indicated? After he gets done adding up his time to buy in larger lots and parcel them out to small buyers, I want to know what his hourly wage is from his new venture. It ought to be interesting.
I knew it would happen.
<< <i>Have you ever been in a silver market that went down 45% in a few months?
Other than this one, nope. To be honest, I hadn't been tracking straight silver bullion on ebay, so I don't know that market as it pertains to silver bars. My thought in tracking some of these ebay sales is to get a feel for the spot market, God knows that Comex isn't a reliable indicator.
When market volume is very low, the pricing isn't really too reliable. When the number of transactions is higher, I expect that ebay is a good reflection of the market. Obviously, you want to get to know the market before taking a position, and before deciding what premium is reasonable.
Interestingly, I have been monitoring platinum on ebay fairly closely. Volume is way down, from a typical average between 500 to 600 auctions to around 200 auctions now. This time of year is when volume should start to increase. Instead, well over 90% of platinum auctions aren't even auctions - they are simply buy-it-now price offerings that are outrageously overpriced, imo. The platinum market on ebay seems to be frozen, i.e., non-functional.
Has fc conducted the arbitrage that his analysis indicated? After he gets done adding up his time to buy in larger lots and parcel them out to small buyers, I want to know what his hourly wage is from his new venture. It ought to be interesting.
well i did some testing on ebay with some silver lots.
here is one:
2 - 1 ounce generic unopened silver bars with an eagle design.
i put a but it now for 40 dollars (20 an ounce!) and it sold within 30 minutes.
shipping cost me 1.17 and the padded envelope 25 cents.
take away ebay fees and paypal fees i quickly made:
$40.00 (Closing Price)
+ $1.40 (Shipping & Handling)
- $0.00 (Cost of Postage)
- $28.00 (Cost to Acquire)
- $1.00 (eBay Insertion Fees)
- $0.00 (eBay Reserve Fees)
- $0.20 (eBay Listing Upgrade Fees)
- $2.72 (eBay Final Value Fees)
- $1.20 (2.9% PayPal transaction fee)
- $0.30 (PayPal fixed fee)
= $1.50 (Total PayPal Fees)
= $3.92 (Total eBay Fees)
= $7.98 (Total Net Profit)
i can live with that if you list 2-3 a day. print an invoice, scribble thank you, and ship.
no insurance, no confirmation, nada. you take a risk that most people are honest.
2-3 a day times 30... few extra hundred dollars a month potential. you could easily
scale it up by lowering your buy it now price for even faster sales.
i dunno though. just speculation.
my 10 oz englehard bars with a buy it now of 18 an ounce did not sell in my test.
people were happily bidding up 10 oz bars past my price when you included the shipping.
go figure!!
So, you live close to the P.O., right? Figure what, an hour of your time per day? And when you get scammed for an order because you had no insurance, that knocks your margins all to heck. That's what retailers have to deal with every day. It's not insignificant. When that happens, your costs ($40.00-$7.98 = $32.02) are not offset by profits until you make another 4.01 sales ($32.02/$7.98).
After you make those additonal sales to make up for the scam loss, you then realize how much time and aggravation went into that transaction and decide that nothing is worth that again, so you pay insurance from then on.
I knew it would happen.
<< <i>i can live with that if you list 2-3 a day. print an invoice, scribble thank you, and ship. no insurance, no confirmation, nada. you take a risk that most people are honest.
So, you live close to the P.O., right? Figure what, an hour of your time per day? And when you get scammed for an order because you had no insurance, that knocks your margins all to heck. That's what retailers have to deal with every day. It's not insignificant. When that happens, your costs ($40.00-$7.98 = $32.02) are not offset by profits until you make another 4.01 sales ($32.02/$7.98).
After you make those additonal sales to make up for the scam loss, you then realize how much time and aggravation went into that transaction and decide that nothing is worth that again, so you pay insurance from then on.
one block away from the PO...
yes an hour seems reasonable.
getting scammed is a possibility...
yes, this little two ounce buy it now was just a test. the premium over spot had to be quite high
just to make it work.
i was thinking 10 ounce lots would be the sweet spot.. then you can afford to get insurance and
confirmation of delivery without eating in the profits so much.
but alas, until i find a source of silver it is all just talk. buying a 1000 ounce bar will simply not work.
If you use insurance, you don't need delivery confirmation of any sort. With insurance, a signature is required and if the package turns up missing, they investigate. If the investigation doesn't pan out, they reimburse you. I've never had to make a claim, mainly because nobody wants a postal inspector hanging around.
I knew it would happen.
<< <i>
<< <i>There does seem to be a premium for physical silver being established.
$2.00+ over spot >>
The seller made a mistake by having a one day auction ... I believe a 7 day auctions would have made him more $$$$
He also misspelled Engelhard .... >>