Ebay seems to be an indicator of PM futures

thatboyaintright

This is my first post on this board so I apologize if this has been covered before. I started accumulating a small silver and gold position 18 months ago. Everytime I buy a bullion on ebay it seems the premium I'm paying is higher than Monex. If physical gold and silver is constantly being snapped up at 10 - 30 % over spot for 10 oz silver and 1 oz gold, isn't that a pretty good indicator of true futures prices ?
Case in point, I just bought a 10 oz silver bar for $ 159.75 shipped. So I figure I paid 155/oz for the metal. Trust me, I passed on several auctions that passed 160/oz before pulling the trigger on this one. I understand a premium on coinage, but manufacturing cost must be much lower on bars. Am I wrong or is there a shortage of physical metal a big indicator of PM futures direction ? Thanks if anyone can enlighten me.

Edited to add ; I forgot ebay sellers fees may make up the difference ?

fc

ebay is where the dumb money buys metals right now.
save up your money and buy 100 oz bars at 1.19 over spot per
ounce is at least a sane premium....

better to save and buy 1000 oz bars...

just my opinion.

thatboyaintright

Unfortunately, my PM budget for Silver bullion is only 150 per month so waiting a year and a half for to buy a 100 oz bar kind of defeats my purpose of easing into the PM market for physical metals. On the bright side, at least I have some disposable income in this crazy time. Thanks for the input though.

cars

You actually got a decent deal if you purchased a name brand bar. You will never find PM's for spot price unless you run across someone who needs fast cash. You can get a decent deal if purchasing larger bars as stated. You also have to steer clear of the bars with collectible value.

rgCoinGuy

Keep your eyes on apmex and teletradedirect.com also. Different days of the week PM's will sell for different prices too on ebay, although a lot of sellers have figured this out.