So this one seller has sold one ounce of silver since JUNE 11th for above $30, yet they have been presented for sale during that entire time....
We can look at ALL the auctions that have gone through in the last 90 days and see that in the last couple weeks the AVERAGE has been well below $30. There are a few exceptions no doubt, for instance I've seen some coins go for $40+ simply because they were inside of a 50 cent airtite capsule. No doubt there are fools out there, but the average buyer is paying less than $30, closer to $26.50
So let's not pick out single coins as example, let's look at the common going price for a common ounce of silver SOLD:
eBay American Silver Eagles 2013 that SOLD
A common ounce of silver would exclude proof coins, it would exclude foreign coins that have import/export taxes on them, it would exclude graded coins, it would exclude an value added items. It would simply be an ounce of silver, most commonly an American Silver Eagle of current year or American minted bars.
Premiums are already pretty low. The US Mint raised premiums to Authorized Buyers to $2.00 per ASE. There are only 12 authorized Purchasers of American Silver Eagles, so thousands of coin dealers are having to pay these purchasers a premium on top of the $2 US Mint premium. So currently Apmex for example is paying $20.90, and unless you are one of the other 11 Authorized Purchasers, you ain't gonna touch an ASE for less. You can buy, through Apmex, drop shipped, for about $3.49 over spot right now, IF you buy 500 oz of more. So if you're a coin dealer, you're looking at a cost of $23.39 before shipping. With 20 coin rolls currently going for ~$25.50 an ounce , that's not much of a profit unless you can sale a butt load of coins. And that's a lotta auctions on eBay, a lotta work for a couple bucks per ounce.
And this above is without even considering that Auction listing expense to the seller, and the shipping expense to the seller, and the paypal expense to the seller...using this eBay and paypal calculator, we see that IF you sell for $30, your net proceeds for the transaction (without shipping cost) are $25.83. For a 20 coin roll which is currently selling on ebay for a high of $520, your net proceeds after auction/paypal expenses (without shipping expense) is $452, or $22.60 an ounce. Not that great of an option is it....
"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence
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