Junk silver prices on eBay

[TwoAndAHalfCents]

Junk silver coins on eBay have always been my preferred source for accumulating silver. Since the end of April, I have been doing a lot of buying and I have finally started to notice a trend. There seems to be a lot of crazy bidding going on when the spot price of silver is down but once it moves up, that's when the real deals can be had. Is anyone else noticing this trend?

In mid-May when silver was around $35, most of what I could get was at spot or slightly above. It was mostly 90% silver quarters and halves in the 26x to 27x face range. No deals there but I was determined to continue to add silver to my stack.

But last week on the move up to $38 an ounce, the bidding competion dropped off - or maybe a lot more silver became available with more people selling on the price increase. But that is when I started to get the good deals - stuff like batches of Barber quaters at 21x to 22x face. I even scored a number of silver nickels and 80% silver Candian coins from one seller for a total of just under 3 ounces of silver at an average of $24.91/ounce.

Then today, with the price of silver dipping below $36, I'm getting outbid on everything. Nothing good at all. Interesting pattern.

[whatsnext]

:3

[tn-dave]

Ebay or the internet in general has screwed up prices. To many people chasing the same stuff or too much stuff that is not as rare or valuable as it was thought to be.

Cards(baseball) or marvel comics used to be "valuable" now are a dime a dozen. I can see silver doing this aswell in the future.

Very true - " It's not that rare - there are 3 of them listed on e-bay.! "

I haven't noticed this trend for junk silver prices - I've done most of my buying here lately or at the monthly coin show and have been using the bay to fill in the holes of my mercury dime album.

[beauanderos]

Well, there's still some strong bidding present on the bay. I figured with the recent sell-off this should have been mine:
http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... MEDWX%3AIT

but I got outbid... not once, but twice! And I had been willing to go 31X face

[97guns]

maybee you hit the holiday weekend, ive got some great deals in holidays.

[merchoarder]

Ebay or the internet in general has screwed up prices. To many people chasing the same stuff or too much stuff that is not as rare or valuable as it was thought to be.

Cards(baseball) or marvel comics used to be "valuable" now are a dime a dozen. I can see silver doing this aswell in the future.

I'm not really sure what you mean here. I completely agree with the comic books and baseball cards but silver? Apples and oranges my friend. IMHO Ebay will never undervalue or "expose" silver as it may have done with comics, sports cards, beenie babies, etc. For example, a youngster might find a mercury dime and think "wow, this is cool, I bet it's really rare." He may be disappointed to see that there 10,000 listings for mercury dimes but it's still worth at least three bucks. If anything Ebay overvalues silver (vrs. spot) and will for a while. A "rare" baseball card is not the same as a "rare" silver or gold anything. If only I knew this ten years ago... Not sure if this even what you meant but thought I'd weigh in, please correct me if I miss understood.

[TwoAndAHalfCents]

The price of silver has been creeping up but the bidding on junk silver coins hasn't really cooled off yet. Maybe a jump closer to $40/ounce will bring out more sellers and/or scare off some of the crazy bidders.

[whatsnext]

:3

[neilgin1]

Yes, indeed. Ebay 90% silver American coinage rolls are definitely a roiling mkt...there's some really good stuff to be had, from the half a dozen straight dealing sellers on Ebay.

i learned this i long time ago on the floor, when you ascertain a bull market, you bid up, you hit offers, you slash and burn, to the extent your line can carry. Dont dicker about a nickel here and there. but that can go the other way too, though just temporarily.

i broke my cherry the other day, and went for some either Morgan or Peace Dollar rolls, GEM/BU's. i was bidding on a roll of 1923 and 1925 Peace Dollars, put in a bid, that i thought would swamp everything. Wouldnt you know, some guy with 23 stars sniped me.

i was hot, which violates a tenet of trading, dont get emtional, but i did, ....as there were two rolls of GEM/BU Morgans coming up, a roll of 1882-O's and 1889-P's, layed in an FU 1125.00 bid, and dared anyone to best that. they didnt, so i got the rolls at a titch above a grand each.

yeh yeh, i know, but here's the way i look at it; i'm in for the long haul, i'm stacking, silver is currency insurance, and what i overpaid in paper fiat will seem a trifle, sooner maybe then later, and i dig looking at these lil pieces of art, blast white.

Since i really liked Ike, i found a lil niche that guys dont really ramp up, the Brown and Blue 40% Ike's. I been hitting these rolls, at getting them a bit above melt, Proofs and UNC's. but the thing is this, and i'm ya'll know this, there's no such thing as Circ 40% Ike, weigh each coin, 40%'er's come in at 24.3-6 gms, while the clad stuff comes in at 22 odd grams, and it sure is neat to look at the old General in silvery lustre.