Question: Why are "Junk U.S Silver Coins" on Ebay alway valued as more than the current Silver Price

Because people who buy silver aren't generally all that bright. They will pay 14 times face when silver is $15.00 and think they got it at a discount.

 

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FIRST - There are NO overpriced auctions. They sell for what the buyers value them at. Real rarities sell at MULTIPLES of pre auction estimates. None of the people publishing prices will sell or buy at those prices ever. When a person lists an inflated BUY IT NOW auction they run a great risk of never selling their items. Go to any LCS or pawn shop and try to buy silver for the current spot price. You will get nothing but aggravation for your time and gas. These folks on ebay are not offering you back orders or an IOU for your money. They are offering immediate access or shipping. Scared people want what they want NOW. They don't want MS-70 silver rounds or collector coins. They will want the smallest denomination silver coins that they can get for barter.
So the simple answer to your question is demand and
access drive these prices.