Title says it all. A simple Google search will reveal trusted bullion/coin dealers, but people insist on paying too much on the bay for bullion/coins from an unknown seller.
I managed to collect a handful of sterling by visiting pawn shops looking for 'sixpences for the christmas puddings' About third ounce for about 5 pounds. Worth a try.
The reason people pay over the odds on eBay is because they are inexperienced and also because they assume everything will be cheaper because it is an auction site. I cringe when I see bandits asking 100 ( $160 ) for a bullion Kookaburra that could be bought elsewhere for one third the price. I also regularly report shysters that sell a coin for $1 with $50 P&P when actual cost is $2 Sometimes however there is a bargain and let's be honest it is kind of addictive and I admit to checking eBay twice a day.
I don't think it's the fault of the people selling for high prices, if that's the price "some" people want to pay then good luck to them. I have seen pensioners go to coin shows with a pocket full of 50c rounds and the dealers give them $4 each for them, it's the way of the world, right or wrong.
i always, look at prices around the web, if the ebay price is lower or around the same ill buy it, i buy over 1000$ in coins every year on it, and i always pay less than other sites or around the same price..... i always have an eye out for world silver proof coins that are 5k mintage and lower.....easy fast and priced just about right...but i always do a search of the selling prices of the specific coin on the web...and i dont bit over that price...
This has puzzled me for at least the last six months.I used to buy on e bay alot.For example,a 2011 panda for $36 and other world coins(1 oz ag)for about the same price.These prices usually beat the online dealers by 2 or 3 $.But now its reversed.Most times I can buy a few dollars cheaper from a dealer.I recently bid on a silver amer. eagle that was 28.oo.I bid $31 and was immediately beaten by a bid of $33.(spot was at about $29)the coin sold for $40.55 which is weird because the online dealers were selling for $31-$32.I dont know why.Can there be so many out there with no idea of how much silver sells for?
Reasons: 1. Stupidity 2. eBay bucks (doesn't work in bullion category but not everyone lists there) 3. Paypal coupons 4. Overseas buyers, where eBay is cheaper for postage than <USOnlineBullionStore> 5. Convenience 6. Buy-now-pay-later (both using credit cards & eBay's 6 month interest free thing for US buyers) etc
I have over paid slightly on some bullion on e-bay. But the way things are now, I wouldn't buy on there. It's crazy how much people are willing to spend. :/
If you throw a piece of bread into a lake you can sometimes see the water appear to boil by a feeding frenzy of fish. With all the fiscal doom and gloom and forums advising buy PMs perhaps there is a similarity ?
I have overpaid once before due to typing in the wrong price in my sniper. Other than that people pay more due to not knowing current market values. One thing which really gets me as a seller is people who do not properly read the listing. I list my items with regular postage as a default with registered post becoming a requirement if the buyer uses paypal. I clearly state this in all my listing as well as the invoice which is sent to the buyer. 8/10 people flat out ignore this requirement and pay for regular postage. Makes me want to rip my hair out.
I was thinking about this today actually, and I think it relates to the market. It's just a 'theory', but: - in a rising market, individual sellers and speculators thrive, because they can continually sell at a profit and can slightly undercut the dealers because they don't have to replace their metals - in a falling market, dealers thrive, because they sell at 'replacement cost', and therefore they care more about the price difference between selling and restocking - in a stagnant market everyone gets the annoyed, although I suspect the dealers get the most benefit as they can sell at a fixed margin Does that sound right? At the moment, I would call this a stagnant market at the end of a falling market. This means that speculators are pretty much locking in losses if they sell at dealer prices right now. Add in feebay fees, and in order to make a profit from recently acquired metal, you need to add some hefty markup.
Often its a person who just wants a coin here and there, whether you pay $45 for a coin on feebay or search around for a dealer at $40 is neither here nor there.
This view of eBay being laden with extortionate silver coins is somewhat outdated in my view. There are many many amateur dealers who sell 10 coins + at prices better than many dealers now for a wide variety of current coins. I think the singles are still priced high, but factor in the minimum postage costs or minimum coin purchase numbers of many of the real cheap bullion dealers and even then I don't think eBay are that far off these days. I don't buy from their site but if you want only one coin is there really that much in it when all costs are factored in?
5 oz proof Dragon's have been selling for $370-$400 in the last few days Release price is $499 :/ I only bid to $360 so I missed out . Your asking a logical question from an illogical situation (ebay ) Don't bother trying to figure it out
eBay is good for numis, as it allows for large variety. You don't need variety in bullion so much, so it's pretty awful for bullion IMO.
afternoon all, a lot of people seem confused by price - either the price a seller wants or the price a buyer is prepared to pay or paid. trading is the oldest profession of all - you can forget the old crap that prostitution is - even if it were the first trade. Before any trade is a negotiation. In any negotiation or trade a buyers and sellers needs are different. Why will someone pay $500 for something that the seller bought for $2? A whole herd of reasons -- and not all related to abuse or ripoffs either. I notice a lot of opinion here on prices of things ------ eg. 50c rounds. I saw someone selling some a few weeks back for $10.75 I think, and got a few opinions. Well -------------- what are they worth? Who says they are worth $10 or $11 -------------------- or $4 or $20. They are worth whatever they are worth to the individual buyer and individual seller ---------- and ONLY if they come to an agreement is a trade possible. Australians are a funny lot ----------- and I think good in general ---------- Australians make their purchases from who they purchase from mainly on 1 criteria --------- whether they like the person or not ------------ price comes way down the list after that. they will quite happily accept paying a higher price -------- or selling for a lower price - if they like dealing with the person. And on the other hand - if they think the other party is a turd or a turkey -- they are very reluctant to deal ----------- at any price. What happens in reality is that in business if you don't have enough profit -------- then you won't be in business long --------- so, as a buyer or a seller - if you always accept the 'best' price - you may well be driving the good traders out of business - as well as the low margin ones. imo anyone who is selling or buying precious metal for investment or return should be aware that they are playing in a business/trading world and all is fair game. If they think or thought that they are buying or holding something because it is a good investment -- then they probably should keep themselves up to speed with prices/demand/tax implications etc. ------- otherwise they should just stick to normal living. I know that sounds harsh - but that is trading commodities ------------------ what you have sitting in front of you is a commodities trader - not a little old lady or man - their needs may be very different to yours - but for sure you will have some motivations that are similar ------------ however, the playing field is the same -- it may not be level - but you are on the same field.u Lets say you walk into a pawn brokers and see 50 Sovs. -- all the same price. You pick out 2 and pay around spot ----------- one is a perfect 1920 S -------------------------- would that make your day? I will assume yes. What if the seller is a 90 year old lady on a pension? Would that make you feel different? If you answer yes ----------- all you have told me is that you are a confused person with rubbery morals. Trading is a game - sometimes a small game and sometimes a big game --------- either way, just get used to it. oh btw -- if in the case of the old lady -- you told her that the 1920 was worth hundreds of thousands of dollars and she could auction it --------- you may have done her a favour - but one thing is for sure -------------- you will have turned her life into a nightmare - wait until she gets the tax and centrelink complications ---------- she will think the worst day of her life was when you told her it was worth a fortune. ------------ funny game, life. have a good arvo gazza
An interesting thread and some excellent insight. What I find interesting about ebay and had not planned to purchase from there, its a type of market very similar to trading in the sharemarket to which I am very accustomed too. Instant gratification for both Buyers and Sellers. The Buyer is happy because he got the item he wanted close to "NOW" and the Seller got the Fiat. OK!! Its not straight through processing as with the sharemarket. However, in paper terms it will represent immediate gain or loss depending on the price you paid or sold, the spot price as well as the demand supply factor. I have bought a few coins and paid a bit more on ebay as they will help to make up a set. Of course first point of call I will check with the Sponsors here. If I can't find what I am wanting here then I search other avenues to find it. Ebay is just another avenue as far as I am concerned. The only difference is it carries more risk for the Buyer. Ex: I would be far more concerned buying a large ticket item from ebay unless I was convinced that the Seller knew what they were doing and are genuine. There are plenty of sharks in the sharemarket and probably just as many running companies. As with anything "Caveat Emptor". If I am prepared to be a longterm investor then paying a few dollars more for coins that will add value to my sets should not matter imho. At the end of the day everyone has there own reasons for stacking or flipping. As long as you enjoy what you are doing. Cheers markcoinoz
If its something I am searching for, I will sometimes buy a coin here or there at a premium from ebay due to convenience. It is not worth my time F5'ing SS sales threads for days waiting for one to come up for sale for a few bucks. Especially if I am a bit late and miss it.
It aint all bad. I know it's not everyone's cup of tea, but I didn't have one and picked this up tonight for a reasonable price: http://www.ebay.com.au/itm/251080920920?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649
