With silver on an up turn....
garsmith
Posts: 5,894 ✭✭
.... why are final prices on rolls of silver eagles dropping on the Bay 
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<< <i>.... why are final prices on rolls of silver eagles dropping on the Bay
Cashback promotion is currently at zero. While cashback is only for BIN items, it does have an impact on auction items as BIN items are direct competition. Microsoft is launching a new search engine, maybe cashback will be back next week and give a boost to silver premiums on ebay.
Also a lot more folks are motivated to list to sell at auction when they see a higher spot price.
Cashback was still at 8% today. That's a far cry from the 20-30% off promotion some months back but it is still helping me buy gold and silver below spot.
Edit for spelling
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>I believe RedTiger is correct about the bump in silver prices bringing more sellers to eBay.
Cashback was still at 8% today. That's a far cry from the 20-30% off promotion some months back but it is still helping me buy gold and silver below spot.
Edit for spelling >>
Oops you are correct, Cashback is still at 8%. I reported it incorrectly, so much for that explanation.
The other possible factor is that times are getting tougher and tougher for some folks and they are being forced to sell anything that isn't nailed down, including silver eagles.
roadrunner
most rolls have been hammering at $ 360- $ 385 . I would say the "average" price for a roll as of this morning is about
$ 370 . To do your own research, Just search ebay's completed auctions , sort by most recent first and use "silver eagle roll"
as your search words.
Lewis
I had a set of 5 ASE's that sold Friday night for right at about 21/each for the set of 5, which is the most they have sold for (for me) in a few months, FWIW.
<< <i>To me this just shows the falacy of COMEX. The talk about premiums rising or falling is just a misdirection. The reality is that Eagles have been selling between 16 and 18 all the time that silver on COMEX has ranged between 9 and 15.50. The reality is that the price of silver has not really changed much for the individual owner but the big boys have played with the paper prices BIGTIME. >>
So the money to be made is really in paper?
I understand and respect the arguement about protecting one's assets. Heck, I own some PM's. But how about the arguement of creating assets?
Knowledge is the enemy of fear
I sold 5 {five}, ASE Saturday on the bay that brought a whopping $18.26; total.
Had another auction for one, {1}, that brought $19.00; go figure. jws
Yes, but not by little guys like us but by those with money big enough to move prices. The big money is made by selling calls like the May gold contract at 950 and then selling huge options the day of expiry so that it closes at 949. Then buying your contracts back the next day and the price rises to 970. Very small loss in the options but huge gains in the sale of the calls.
The paper market is about manipulation.
The little guy should have been able to buy 1000 shares of SLV for $9000.
I liken the premium paid for ASE's to the premuim that is oftentimes paid for strong growth stocks. With the stocks there is a huge premium paid for strong earnings growth, but what I see is that even when the growth prospects are proven the stock underperforms. Investors were correct in buying the stock as it had strong fundamantals, yet were wrong as the stock price already factored in the growth. I think this is exactly what has happened with silver over the past 6 months.
Knowledge is the enemy of fear
<< <i>The little guy could have bot SLV at 9 when ASE's were at 16 and sold SLV at 16 when ASE's were 17. $7 gain vs $1 gain. If this is manipulation, then I want in!!! If you beat them, join them, right?
The little guy should have been able to buy 1000 shares of SLV for $9000.
I liken the premium paid for ASE's to the premuim that is oftentimes paid for strong growth stocks. With the stocks there is a huge premium paid for strong earnings growth, but what I see is that even when the growth prospects are proven the stock underperforms. Investors were correct in buying the stock as it had strong fundamantals, yet were wrong as the stock price already factored in the growth. I think this is exactly what has happened with silver over the past 6 months. >>
cohodk, nicely said. I am happy with the SLV I purchased at 13.42 in March. I have avoided ASE's on account of the premium. 10 oz silver bars are proving more affordable for me.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>If this is manipulation, then I want in!!! >>
Right you are!!!
All you need is the ability to know what they are going to do BEFORE they do it.
Is the next more to push silver past 20, let JQP buyin and take it down by massive naked short selling like they did last year (see Ted Butler for details). OR
Take it down now with naked short selling and when JQP runs for the hills they buy up cheap?
Good luck and keep us posted.
Knowledge is the enemy of fear
Remove emotion from your trading and you'll find it isnt really all that hard.
Knowledge is the enemy of fear
The little guy should have been able to buy 1000 shares of SLV for $900.
The little guy should be buying bulk 90% or bars to keep premiums low. At some point in time SLV will be found out to be quite a it less than 100% funded with physical silver. The same boyz that run the Comex futures scam run the gold and silver ETF's as well. One big club. If one if holding SLV for weeks or months at a time (rather than a few days) I think there are huge risks involved. Seems to me a better way to play is with the AAA unhedged producing miners, who at least aren't running potential scams. I was stunned to found out that this Paulson guy's fund has a 15% stake in GLD. He's probably smart enough to know when it's time to leave the party an hour early.
roadrunner