What kind of prices can you expect to pay right now? Obviously no one wants to sell right now. Not for anywhere near the current melt value anyway. What kind of prices should I expect dealers to be asking for A. Junk silver B. Silver rounds or bars and C. Silver eagles or other silver bullion coins? I'm just curious. Thanks.
Wait for it to drop under $10 and watch how fast they want to sell. And at the normal price, 10% over spot.
A. face value(roll searching) B.1oz engelhard bar at garage sale for $12. Cant find any other anywhere near me. All out.
I sell gold and silver these are some estimates based on todays pricing rounds ~15.00 oz 100oz bars 1300.00 silver eagles 19.50 10 oz 130.00? 90% 11xfv
Not on eBay. They are still paying $17 - $20+, including S & H. But I expect that to drop a bit soon enough. I would think that most of the sellers have paid $14 - $16/oz and are trying to get rid of it before they cannot get their money back. They can still do that on eBay.
I'm going to say something here that's probably going to make some people mad, but so be it. You can buy all the silver you want, all day, on ebay. But you're going to pay. Is it too high? I don't know. You tell me. If nobody can find any anywhere, but there's a never ending supply on ebay and you want some, well.....? You can throw the spot price out the window. 6 months ago, it seemed to make a little sense. Now? Almost no point in looking at it. Proof, in factory plastic, one oz. silver bars are going for not less than 17-20 dollars a piece on ebay every day. When spot was 16.00, that is what they were selling for. Spot is 10.21 today, but that is what they are still selling for. No, I can't explain it but it isn't an anomaly. It's a trend that's been going on for months. So do we say, "everybody is over-paying"? I don't, because I generally look at items on ebay, traditionally a buyer's market, to set a bottom line on what's the cheapest I should be able to get something at. No matter what the product may be. A 3rd generation I-pod Nano is 200.00 retail. They go for 150.00 or less on ebay every day. This is the case on just about anything you want to look at. Like it or not, this is the cheapest place you're going to find things. What things are selling for on there is what people, who are expecting a good deal, are willing to pay. If you expect to get 1 oz. bars for 11.00 right now, you're not going to be buying any. If you want to buy large amounts (50 oz+) in bulk, straight from the mints for a few bucks over spot, you're going to be waiting 8-12 weeks to get it. That is what you're looking at right now and I won't even make an attempt to guess when this will change. I think it's more likely than not to see silver climb than keep dropping, just based on what's happening with supply right now and what people have to pay over what seems to be an artificial spot price. Only my observations and opinions. I think it'd be great if it went back to 5 bucks but, it's not going to happen.
LOL! We posted our statements at the exact same time. I will stand by my opinion. Maybe that's part of the supply problem right now. Everybody's trying to break even on ebay. Nobody's going to sell you bars at 11.00, assuming they even have any on hand. So in a way, ebay prices are reflecting what people are willing to pay and what sellers are willing to let stock go for and it isn't anywhere near spot. I'm not defending it. I think it's ridiculous too but that's what's working.
I agree with Mr. Vess. Imagine if this thread were titled "When are coin prices going to get in line with RedBook prices"? It's the same idea. The RedBook (and spot price) is a GUIDE. Actual price will vary (as your mileage will). The 1929P, 1929D and 1929S Standing Liberty Quarter are all listed at $5 in G4 condition on Numismedia. Ha! IF you can find a -S or -D mint mark, good luck! And then super good luck if you can get it for the same price as the 1929P. Just an example. E-bay is really where you should be looking if you want to see the 'real' going price for junk or 90% silver. Or go to your local coin dealer. His prices will be more in line with E-Bay than with the spot price. It's quite possible that the price of 90% silver "junk" coins and the spot price may be have decoupled - at least in the short to mid term.
When deciding what to pay, keep in mind that the spot price is practically irrelevant to the physical coin and bar market now. Many people still don't seem to know this although the information is pretty widely published. It is a price established to settle futures contracts in cash, and it becomming more disconnected from the physical market as time passes, especially in light of the Comex rules limiting the amount of silver than can be physically delivered and removed from the exchange. So watch the spot price and if sellers panic because of it, by all means jump in and buy because there is a high probability that you are getting a bargain price if you buy anywhere close to the spot price.
Hi good people, Some of you are spot on (vess, cloudsweeper) that this is NOT your normal market so don't expect normal pricing. There is a huge and abnormal divergence between the paper price of gold and silver bullion and the supply of 'hands on' physical bullion. Hell, the paper and physical markets are so disjoint they hardly resemble each other. There are a lot of reasons for this including the bullion ETF's, naked shorting of gold and silver futures, and so much leverage in the paper market that I read there was 10 times more paper silver than there was physical supply on the planet. There are some that feel the smaller dealers don't care to sell at a loss. There are some that blame this situation on a conspiracy. Feh. I'm not much of a conspiracy guy, but realize the acknowledge that if anyone is in a position to manipulate the market - they will. I would too. Regardless, the paper price is so low now that available supply on the street has all but disappeared. This reminds me of the Econ 101 supply / demand curve for Price Controls. When prices are artificially low, the supply disappears. Sort of what's happening in the credit market - if 5% doesn't cover the risk of lending you money and now the gov't lowering rates to 4% - do you really think your chances of getting a loan have improved? The net/net result is that premiums have gone thru the bloody roof - IFF you can find anything to buy. Yeah, theres stuff on Ebay, but it's pricey - and tight supply is bidding it up further. As for dealers, you really can't be choosy -if you want to buy something - the supply is so limited they've got you. Sorry, I know it's a bite. peace, rono
Kinda like listing Sleeper coins? Theory is, if you talk about obscure coins long enough, they aren't obscure anymore.. <Ok people. Don't say bad things about me. I haven't left the room yet>
I wasn't asking "When is the price of silver going to get in line with the spot price?" I was asking what is the going rate right now.
the dealers are going to get it watch out. I agree with GD he may or may not know about people but he does not about coin dealers since the first one too
