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I just looked at Ebay. Crazy prices being had for SAEs. I am talking like $38 apiece for current $27 spot prices. Long-term holders may want to buy a roll of SAEs or generic rounds in anticipation of higher prices down the road and a chance to lower cost basis eventually. If we go back up into the 40's, stuff bought now can be paid for at that point when SAEs sell for $50 on Ebay. Seems like that place never has lack of buyers willing to pay 40% premiums. I am getting to the buy point on a roll of SAEs from Westminster or Scottsdale.

Hmmmm, found this Ebay store:

http://myworld.ebay.com/scottsdalesilve ... 4340.l2559

May just bypass the dotcom site for Scottsdale and bid on Ebay for exact same items. Coming from same place. Any other online dealers who do this?

I bid on a couple of things last night and got the "sorry you didn't win e-mails this morning". I intentionally searched for and bid on 24hr auctions hoping nobody had placed a high bid several days ago. Here's was I lost:

Two silver Eagles ended up bringing $38 and $38.89 and an Engelhard 1oz bar that brought $38.

JerrySpringer wrote:I just looked at Ebay. Crazy prices being had for SAEs. I am talking like $38 apiece for current $27 spot prices. Long-term holders may want to buy a roll of SAEs or generic rounds in anticipation of higher prices down the road and a chance to lower cost basis eventually. If we go back up into the 40's, stuff bought now can be paid for at that point when SAEs sell for $50 on Ebay. Seems like that place never has lack of buyers willing to pay 40% premiums. I am getting to the buy point on a roll of SAEs from Westminster or Scottsdale.

I've been watching Ebay also. Ridiculous. I just don't think that ordinary retail buyers watch the price of silver to much. The retail price seems to lag the spot price for a few weeks/days if silver falls quick. Doesn't lag on the upside though.

JerrySpringer wrote:I just looked at Ebay. Crazy prices being had for SAEs. I am talking like $38 apiece for current $27 spot prices. Long-term holders may want to buy a roll of SAEs or generic rounds in anticipation of higher prices down the road and a chance to lower cost basis eventually. If we go back up into the 40's, stuff bought now can be paid for at that point when SAEs sell for $50 on Ebay. Seems like that place never has lack of buyers willing to pay 40% premiums. I am getting to the buy point on a roll of SAEs from Westminster or Scottsdale.

thats what i was saying in the other thread, "27 and a half", that in the real world cash market, RETAIL, the premium is going to get stretched out, basis the board. and one can say, "these guys are idiots", 'these guys dont know what they're doing'...but the free market takes the price where its going to go, its the intersection of price discovery. i like physical purchases on Ebay, because Ebay serves the same purpose an HONEST futures exchange would serve, they are the middle, should the buyer or seller deign to play games.

neilgin1 wrote:

JerrySpringer wrote:I just looked at Ebay. Crazy prices being had for SAEs. I am talking like $38 apiece for current $27 spot prices. Long-term holders may want to buy a roll of SAEs or generic rounds in anticipation of higher prices down the road and a chance to lower cost basis eventually. If we go back up into the 40's, stuff bought now can be paid for at that point when SAEs sell for $50 on Ebay. Seems like that place never has lack of buyers willing to pay 40% premiums. I am getting to the buy point on a roll of SAEs from Westminster or Scottsdale.

thats what i was saying in the other thread, "27 and a half", that in the real world cash market, RETAIL, the premium is going to get stretched out, basis the board. and one can say, "these guys are idiots", 'these guys dont know what they're doing'...but the free market takes the price where its going to go, its the intersection of price discovery. i like physical purchases on Ebay, because Ebay serves the same purpose an HONEST futures exchange would serve, they are the middle, should the buyer or seller deign to play games.

My new favorite site to watch, Westminster Mint, raised their premiums on SAEs. What a bunch of #$%*$? !!!

Anyway, chart says around $21 for support. Will see.

JerrySpringer wrote:

neilgin1 wrote:

JerrySpringer wrote:I just looked at Ebay. Crazy prices being had for SAEs. I am talking like $38 apiece for current $27 spot prices. Long-term holders may want to buy a roll of SAEs or generic rounds in anticipation of higher prices down the road and a chance to lower cost basis eventually. If we go back up into the 40's, stuff bought now can be paid for at that point when SAEs sell for $50 on Ebay. Seems like that place never has lack of buyers willing to pay 40% premiums. I am getting to the buy point on a roll of SAEs from Westminster or Scottsdale.

thats what i was saying in the other thread, "27 and a half", that in the real world cash market, RETAIL, the premium is going to get stretched out, basis the board. and one can say, "these guys are idiots", 'these guys dont know what they're doing'...but the free market takes the price where its going to go, its the intersection of price discovery. i like physical purchases on Ebay, because Ebay serves the same purpose an HONEST futures exchange would serve, they are the middle, should the buyer or seller deign to play games.

My new favorite site to watch, Westminster Mint, raised their premiums on SAEs. What a bunch of #$%*$? !!!

Anyway, chart says around $21 for support. Will see.

Local dealers and private sellers may be reluctant to sell at premiums in line with spot. Go to any of the large professional sites like provident, apmex that hedge and you get your reasonable premiums (2-3 over)

Not sure way the relevance is of a small amount of silver moving on ebay at 10$ premiums when pallets of silver are moving at "normal premiums" FYI, bullion stacker.com has private sellers that were yesterday selling eagles at 30 an oz shipped. even one fellow listed his BU roll of maples at spot plus 2$ a coin.......

You guys may mock these sellers and call them imbeciles, but they might not have handy LCS to visit, and the shipping charges are moderate compared to what they'd eat up in gas to go further afield in search of them. Also, alot of online dealers have minimum purchase limits, and there are probably at least close to one hundred million Americans who can't even budget to buy more than a single ASE at one time. And yeah, it does seem as if ebay prices and their lag time from "reality" is about two to three weeks at times, perhaps reflecting their belief that any dips are of minor consequence and fated to rebound rapidly. Finally, most people just frickin don't have time to place hundreds of bids after scouring potential listings, hoping to win one or two at or barely beneath melt. There's better uses for your time.

Why do you think Westminster is a bunch of clowns? Put yourself in their place, trying to make a living on a thin margin in rigged markets. Would you be willing to sell at these prices, just because there are buyers who will abandon you after hurling invective if you don't? I imagine alot of small mom and pop stores could go out of business because of the volatility, if they aren't careful.

beauanderos wrote:Why do you think Westminster is a bunch of clowns? Put yourself in their place, trying to make a living on a thin margin in rigged markets. Would you be willing to sell at these prices, just because there are buyers who will abandon you after hurling invective if you don't? I imagine alot of small mom and pop stores could go out of business because of the volatility, if they aren't careful.

I put a after my comment. I understand they need to raise premiums BUT I do not like it. Do you like premiums going up?

JerrySpringer wrote:

beauanderos wrote:Why do you think Westminster is a bunch of clowns? Put yourself in their place, trying to make a living on a thin margin in rigged markets. Would you be willing to sell at these prices, just because there are buyers who will abandon you after hurling invective if you don't? I imagine alot of small mom and pop stores could go out of business because of the volatility, if they aren't careful.

I put a after my comment. I understand they need to raise premiums BUT I do not like it. Do you like premiums going up?

I don't consider it premiums going up, I think of it as pricing stability within a microcosm of engineered instability. But a better answer to your question would require reframing the question. Do I like premiums increasing? Doesn't bother me in the least, it's a defensive counterpunch to the body shots silver is taking right now. The more pertinent question would be do I like premiums increasing in response to silver price dropping? Hell NO. Only those who are late to the game would smile at that. Those of us who already have tons squirreled away are whimpering in misery (TG it's only temporary, prices will rebound... at some point in time, given resource depletion and unfettered currency creation)

Volatility tends to cause wider bid/offer spreads because market makers are more hesitant to their margin getting wiped out and not hedging properly. You see this in equities, options and futures as well. Fewer people willing to step in and assume the risk to facilitate trades for others.
Being a typical local bullion dealer is not very profitable nor glamorous. Think of the small volumes and margins they have to work with.
Cheers!

Local dealer still wants $45 for 2011 SAE's and $40 on mixed dates as of today

If ya wanna buy one. the price is high.many more lower level bidders out there. I look at the 3-5 coin bids. if you can average out at 35 including shipping, your doing OK as opposed to paying tax. buy volume, sell single coins on ebay.