Why are Silver Stackers selling silver for more than dealers?

My son has been selling alot with crazy premiums. The sheeple are still wanting it so let them pay those prices. They made their choices not to buy earlier so that's tough.

Waiting till the last minute works until it doesnt!
 
Eureka Moments said:
I auctioned some things last week. Buying price was decided by bidding Buyers not the Seller who opened bidding on all lots at $1.00 and left the buyers to decide the current market value. Might do the same again, better than setting a sell price and have people whinge about any premiums over spot.
OMG, I think I just advocated for a free and transparent market, hope none of my Comrades noticed!
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Thought: Precious metals could use its own auction marketplace.

Discuss
 
Belvedere said:
Just noticed today the big difference in the general price for a kilo of silver on the forum is between $875 and $950. I can buy a kilo from a dealer today for $837. Are our expectations too high?????
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The answer to your question is some people like to just pick it up rather than waiting on delivery .Also alot of deliveries go missing .Not just that but you have to pay insurance for the item .Also some silver demands a premium like if there is only 2500 minted like the new 2020 mother and baby kookaburras they will definatly go up in price once mint has sold out in the next 24hrs .its just how it works supply and demand and convenience .
 
Belvedere said:
Just noticed today the big difference in the general price for a kilo of silver on the forum is between $875 and $950. I can buy a kilo from a dealer today for $837. Are our expectations too high?????
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I seen a guy sell 2 1kg bars of silver at $1200 each and people still paid it .I deal with customers all the time and most of them will just pay the price but you do get the occasional whinger and to be honest there are alot of dealers out there who are terrible to do business with .
 
Belvedere said:
Just noticed today the big difference in the general price for a kilo of silver on the forum is between $875 and $950. I can buy a kilo from a dealer today for $837. Are our expectations too high?????
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The absurd thing for me right now is bullion dealers online are STILL asking sky high premiums BUT they are OUT OF STOCK! IF you want to take delivery of Silver or gold in the short term the REAL PRICE is what someone is prepared to sell for.

I have been investing in silver for 16 years now, i dont particularly want to sell a single gram of silver for 75c which is current spot.. i want to sell my silver for a fair price.. Using human history as a guide it is a mockery to have $15/oz silver when gold is $1700 and the price of everything is going up like crazy..

I bet all long term stackers are like me here.. have HEAPS of silver / gold.. but just not prepared to part with it.. and the bullion dealers who lol, have no bullion!

I might sell some silver, but it will be at a price i am comfortable to sell it at, not at all to do with some future paper price, and not at hefty premiums to the spot price (how irrealavant is spot price when dealers ask fair more and cant even justify it by claiming possession).

I think everyone holding right now has the advantage because Joe investor cannot get their hands on it!

price... what someone is prepared to pay!
 
Hey if some one is prepared to pay those premiums sell it to them I say, Ive sold a few hundred ounces of surplus silver I had laying around.
People paying $930 for 1kg silver when spot was around $740 a kg lol. I thought bugger it Ill sell my Surplus that doesnt fit into my safety deposit box.
So sold a few hundred ounces the last two weeks on gumtree, selling bars for $930 Kg on bars I bought last year for Less than the current spot price. ahaha. its been an easy $2k profit
Ill buy back a shit tonne more with the money when it becomes available, manufacturing hasnt resumed so the chances are good the price wont be rising big anytime soon.
This happens from time to time, its a great chance to make a buck on other peoples FOMO.
Holding the cash for cheaper buys Helps keep the stack dollar value down and gain more silver. I like to keep a few hundred ounces of surplus silver for these times.

a fool is easily parted from his money.
 
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Jason1 said:
Hey if some one is prepared to pay those premiums sell it to them I say, Ive sold a few hundred ounces of surplus silver I had laying around.
People paying $930 for 1kg silver when spot was around $740 a kg lol. I thought bugger it Ill sell my Surplus that doesnt fit into my safety deposit box.
So sold a few hundred ounces the last two weeks on gumtree, selling bars for $930 Kg on bars I bought last year for Less than the current spot price. ahaha. its been an easy $2k profit
Ill buy back a shit tonne more with the money when it becomes available, manufacturing hasnt resumed so the chances are good the price wont be rising big anytime soon.
This happens from time to time, its a great chance to make a buck on other peoples FOMO.
Holding the cash for cheaper buys Helps keep the stack dollar value down and gain more silver. I like to keep a few hundred ounces of surplus silver for these times.

a fool is easily parted from his money.
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Yep, I had Perth mint eagles that I sold for $39 each. I got the usual whinger but that's how much I saw they were worth considering I had kept them for a year and did want to part with them unless the price was right . I sold 40 of them at that price and i purchased them for $27 from Perth bullion when they were around . I have never gone by Perth mint or spot prices . The only way ill let my silver go is if the price is right and if someone dosn't like that they can always go to the Perth mint . On eBay people are selling kangaroo 1oz coins for $49 each and they are selling crazily enough . Dont matter what the spot price is silver is in very high demand .
 
1for1 said:
The absurd thing for me right now is bullion dealers online are STILL asking sky high premiums BUT they are OUT OF STOCK! IF you want to take delivery of Silver or gold in the short term the REAL PRICE is what someone is prepared to sell for.

I have been investing in silver for 16 years now, i dont particularly want to sell a single gram of silver for 75c which is current spot.. i want to sell my silver for a fair price.. Using human history as a guide it is a mockery to have $15/oz silver when gold is $1700 and the price of everything is going up like crazy..

I bet all long term stackers are like me here.. have HEAPS of silver / gold.. but just not prepared to part with it.. and the bullion dealers who lol, have no bullion!

I might sell some silver, but it will be at a price i am comfortable to sell it at, not at all to do with some future paper price, and not at hefty premiums to the spot price (how irrealavant is spot price when dealers ask fair more and cant even justify it by claiming possession).

I think everyone holding right now has the advantage because Joe investor cannot get their hands on it!

price... what someone is prepared to pay!
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yeh spot price is a joke atm.Dealers are charging rediculous prices for thier coins .There is no point even having a spot price to be honest thats why i always sell my silver and silver coins way above spot price .Because i have to pay such a high price to begin with.Some dealers are selling the new 2oz mother baby kookaburra coin for $69 a coin so basically dealers dont care about the customer either .So if dealers are going to charge the earth for thier product even though spot is only $23 then ill do the same .
 
mel1092 said:
yeh spot price is a joke atm.Dealers are charging rediculous prices for thier coins .There is no point even having a spot price to be honest thats why i always sell my silver and silver coins way above spot price .Because i have to pay such a high price to begin with.Some dealers are selling the new 2oz mother baby kookaburra coin for $69 a coin so basically dealers dont care about the customer either .So if dealers are going to charge the earth for thier product even though spot is only $23 then ill do the same .
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Dealers are paying exactly the same price for this current crop of 2 oz Kooks as someone who walks into the Perth Mint shop. There's no dealer's discount; they pay retail like everyone else for this product.
They are also restricted in the number of coins they can order; something like 200 - 300 coins.
Based on the actual cost price of nearly $59 which a dealer had to pay after shipping and other ancillary charges, I think $69 is a pretty fair price for a low mintage coin!
Dealers are doing it tough at the moment! Lots of potential customers but sourcing the bullion to sell has been difficult to say the least.
 
Aurora et luna said:
Dealers are paying exactly the same price for this current crop of 2 oz Kooks as someone who walks into the Perth Mint shop. There's no dealer's discount; they pay retail like everyone else for this product.
They are also restricted in the number of coins they can order; something like 200 - 300 coins.
Based on the actual cost price of nearly $59 which a dealer had to pay after shipping and other ancillary charges, I think $69 is a pretty fair price for a low mintage coin!
Dealers are doing it tough at the moment! Lots of potential customers but sourcing the bullion to sell has been difficult to say the least.
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I don’t believe they are paying what we are paying although I don’t know for certain they would not be able to pay the bills . $69 is eBay price so probably be lower . I paid $53 each for mine but guarantee if I try to sell them for $5 over what I paid for them once mint goes out of stock I would be abused for days on gumtree or marketplace . But dealers can sell them for whatever they want and they are seen as the good guys lol.
 
Retailers are paying retail!
If you can walk into the Perth Mint shop when spot is down a dollar, then consider yourself lucky you paid $53.
No one here, on eBay, Gumtree or anywhere will abuse you if you resold it for $58.
Happy to take a few hundred at that price!
 
mel1092 said:
I don’t believe they are paying what we are paying although I don’t know for certain they would not be able to pay the bills . $69 is eBay price so probably be lower . I paid $53 each for mine but guarantee if I try to sell them for $5 over what I paid for them once mint goes out of stock I would be abused for days on gumtree or marketplace . But dealers can sell them for whatever they want and they are seen as the good guys lol.
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From what I’ve seen and read in my time on the forum, @Aurora et luna is a knowledgeable member with information about the industry that regular stackers like you and I don’t have access too. I would certainly take those statements about dealers buying at near retail rates as correct.

Regarding pricing, you can set whatever price you like, but just be reasonable. It’s about finding the balance between the money you want for it, and approaching it from a buyers eyes and asking yourself would you pay that price if you were the buyer? I put up a thread for 3 x 1kg bars yesterday... priced it above the dealers rates, but within a number of what I’d pay if I were buying them. And I got absolutely swamped with PM’s and buzzes literally within 60 seconds of it going live.
 
mongrelmaple said:
From what I’ve seen and read in my time on the forum, @Aurora et luna is a knowledgeable member with information about the industry that regular stackers like you and I don’t have access too. I would certainly take those statements about dealers buying at near retail rates as correct.

Regarding pricing, you can set whatever price you like, but just be reasonable. It’s about finding the balance between the money you want for it, and approaching it from a buyers eyes and asking yourself would you pay that price if you were the buyer? I put up a thread for 3 x 1kg bars yesterday... priced it above the dealers rates, but within a number of what I’d pay if I were buying them. And I got absolutely swamped with PM’s and buzzes literally within 60 seconds of it going live.
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yeh I been flipping silver for years and even though I have been abused from a lot of people I always manage to sell my silver for the price I want . I take no notice of spot because a lot of the time I will only sell my silver if the price is right .i don’t enjoy selling my silver but if I can make a profit to buy more I’ll do it .one of my family members was a manager at the Perth mint for over 20 years before they bought in a South African guy so I do know they get a bit of a discount but I’m not egzactly sure how much.my family member was actually really pissed off cause all the people who worked there they basically made them all redundant. There was about 30 people who were fired to cut costs .i used to polish and cut the coins was a super boring job though .
 
Aurora et luna said:
Retailers are paying retail!
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Hello @Aurora et luna , just a quick question regarding dealers buying at retail rate. I do not doubt that you are correct in saying that they would have paid retail @ $58 each posted if they really did pay retail. But if this is truly the case how can they then sell the same item at $69 per coin on ebay? The fees (ebay + PayPal) alone @ 14% is $10. So are they are selling for no profit at all? So how do you explain this? Here is a typical ebay advert by a dealer. This includes free postage how do they do it? They would actually be losing money.

https://www.ebay.com.au/itm/2020-Mo...810653?hash=item445a108e9d:g:Ri0AAOSwJiRer9HH
 
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Silverling said:
Hello @Aurora et luna , just a quick question regarding dealers buying at retail rate. I do not doubt that you are correct in saying that would have paid retail @ $58 each posted if they really did pay retail. But if this is truly the case how can they then sell the same item at $69 per coin on ebay? The fees (ebay + PayPal) alone @ 14% is $10. So are they are selling for no profit at all? So how do you explain this? Here is a typical ebay advert by a dealer. How do they do it?

https://www.ebay.com.au/itm/2020-Mo...810653?hash=item445a108e9d:g:Ri0AAOSwJiRer9HH
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Haven't a clue!
Maybe selling at cost to attract buyers to patronize their regular store.
I am not saying dealers are paying retail for any other Perth Mint products; just the low mintage 2oz Kooks!
 
Silverling said:
Hello @Aurora et luna , just a quick question regarding dealers buying at retail rate. I do not doubt that you are correct in saying that they would have paid retail @ $58 each posted if they really did pay retail. But if this is truly the case how can they then sell the same item at $69 per coin on ebay? The fees (ebay + PayPal) alone @ 14% is $10. So are they are selling for no profit at all? So how do you explain this? Here is a typical ebay advert by a dealer. This includes free postage how do they do it? They would actually be losing money.

https://www.ebay.com.au/itm/2020-Mo...810653?hash=item445a108e9d:g:Ri0AAOSwJiRer9HH
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Mate they ain’t paying retail they buy 300+ coins at a time . I know they ain’t I used to work at the mint if they were paying retail they would not be in business . You will not find one business anywhere that pays retail if they are resellers otherwise they would be broke in a few weeks .they are buying the coins for maybe $48 a coin then on selling them for $60 in store and maybe $69 on eBay .anyone with a brain knows they ain’t paying $53 a coin not if they purchasing 300+ And not if they are a authorised reseller . I assume they paying even less than $48 a coin to be honest .
 
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