Silver is Up A Bit

why is 42 hard to believe silver was almost 50 at the time i didnt say i sold recently

 

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I really don't know how to say this "nicely" : your hustle ain't that sharp.

What do you suppose your haircut would be selling this on eBay today? Simple calc, approximately.
https://www.cointalk.com/threads/new-member-from-ohio.217261/#post-1569902

 

Best estimate, back-of-the-envelope:

$1,053 - $794 (better eBay price target, Silver @ 17.85/Ozt) - $119 (15% eBay fees) nets you $675. At best.

That's a -36% haircut, at least. (Many auctions for same-same will be lower still.)

Silver Spot hasn't been close to when you paid for it ($32.) so that wasn't rocket science to figure.

I'm not sure who you've actually sold to since, but the Eagles couldn't have been "profitably" sold to Provident at their Bid, of that I'm certain.

And if you bought any Ag in early November 2012 to sell in late February 2013 to someone in OH (highly doubtful, also) that's properly called "flipping" - and you already claimed you don't do that, above.

Silver's been down ever since!

 

That seems like an incredibly artificial way to apportion costs. Heck, if you're going to figure them that way, what's your expense in time and vehicle costs to ferry those four quarters off to your LCS?

Hypothetically, if I sold and shipped to Provident a package of silver, I'd sell $1000 worth of silver -- 56 ozt, a bit under 4 pounds, easily fit into a small fixed-rate box. I'm guessing the shipping will still be around $20, a 2% haircut. But they're currently offering 4.5% over Coinflation spot for 90%, so I'm still 2.5% ahead of melt.

I'll be going to the local show this weekend, where there will be several dealers competing to buy, guaranteeing favorable rates. Despite that competition, if past experience is any guide, the best offers will be a bit under Coinflation spot. Even discounting my time and gas (I attend shows for entertainment), I'm not doing as well as selling (and shipping) to Provident.

And if I sold on eBay, I might find the right pair of bidiots to bid it up to 15-20% above spot, gaining me a favorable net after eBay/PayPal/shipping fees -- but that's a mighty big might.

 

Not at all. Two commodities, two weights apportioned accurately. Splitting insurance would be "artificial" though - I avoided that deliberately.

Again: the Bid was offered by Provident. It's real. My bad above was underestimating the full cost of shipping to them at their Terms.

While your LCS example is a stretch, I'm pretty sure dealers (try to) expense their full travel costs, too.

What is the standard eBay/PayPal cost structure for small traders and single, under $100 sales, approximate percentage now?

 

.

 

Seems to be holding ...
Apmex having an 8-hr surprise closeout sale on 2014 ASE Rolls + free shipping... looks like it's the final hour now. Think they started with around 4,000 rolls... now 677 and shrinking. Impressive...

 

Indeed. You've been continuously "buying," more or less, for at least 3 years. Have you ever recommended SELLING Silver at any specific price target reached in the last 5 years? Links please.

I have nothing against Silver stacking, but your videos are permabull... all the way down. Are you hedged at all?

You were buying on eBay, Silver at $28. and higher in 2011/2. This simply doesn't square with the "I sold my stash at $42 to Provident" claim. I want to see that video!


Reality check: since then, Silver down -40% ; FB up 100%
http://www.marketwatch.com/investing/stock/fb/charts?symb=FB&countrycode=US&time=20&startdate=1/4/1999&enddate=1/16/2015&freq=1&compidx=none&compind=none&comptemptext=Slv&comp=Slv&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=2&style=1013

 

I am always selling i have sold 50 oz just to get enough cash to buy 51 ounces. Thats one of my "problems" i dont keep things long all i care about is weight

 

I find your YouTubes mesmerizing, but I don't see the cost-effectiveness of your strategy. It looks more like very costly commodity hoarding, rather than "bullion investing."

More profitably, you might learn to manufacture and sell handcrafted Silver jewelry. For example, I don't see anyone making & selling Zombie Rebel silver belt buckles online. The popularity of Zombucks proves there's an almost unlimited market for bullion collectibles.

DIY
http://www.motherearthnews.com/diy/metal-foundry-zmaz82jfzglo.aspx

 

im in it long term i do what i can to increase the ounce weight thats all. Now if prices go way up ill sell again and buy back once it falls

 

Past experience was an imperfect guide -- one of my favorite small dealers was paying 13.1x for 90%, essentially equal to Provident's $13.11. And I think he was selling at $14.50, better than Provident's $14.89 (but not quite matching their $14.29 for $100 or more). If I'd been moving a bit more quickly today, I might have gone back over with some of the 90% that I've bought at 12x or below. I'm comfortable hanging on to it for the near term, though.

I did sell some Morgan and Peace dollars to him, ranging from $16.50 for culls to $23 for non-problem Morgans. That's a bit back of Provident's offer for cull dollars, but I didn't want to sell that much today. I locked in a bit of profit on stuff I'd bought over the last few months, and now I'll trawl eBay for a while for underpriced stock to replace it.

 

Thanks jeffB!
APMEX is offering only 12.662x, a discounted Bid to Provident's (assuming the websites' are both real quotes.) Other online Bids to check?

 

I came to the conclusion that Provident's bids are consistently higher than APMEX, and their selling terms seem clearer and more reasonable as well. (APMEX seems to mumble about lower prices for smaller lots, but I don't remember any explicit thresholds.)

I thought there was a third place that I used to check for bid prices, but I don't seem to have it bookmarked.

If prices at the show are on par with Provident's, it implies an upward acceleration in the market, at least to me and the local seller(s). Provident's premiums to melt were higher for quite a while when silver was declining, then dropped as silver got below maybe $18-19/oz -- at least that's what I'm remembering, but don't quote me.

Caveats: I don't believe in technical analysis, I don't have any particular insight into the internals of the silver market, and I have not actually sold bulk silver to any online dealers. I'm just a cheapskate who grabs silver when it's available at a discount to the going rate, and sells it when a good offer price comes around.