Dr Kevin Bethel

by Dr. Kevin Bethel
(Freeport, Bahamas)

One of the ways I look at EBay is the "Commodity Exchange Market for the Average Man."


If you look at the cost of any 1 oz silver round on EBay right now, it is well above the spot price listed on KitCo or COMEX. Not so long ago it was possible to find a few ounces of silver on EBay for spot value or just below spot value, but, with the recent drops in spot value this past few months, the asking price on EBay starts higher and the offer prices go way above spot price.

I don't follow the price of other commodities on EBay but I would imagine similar situations were premiums the average man is willing to pay for those commodities is much higher than the central exchange set value.

One day, EBay may prove to be a better indicator of the value of various commodities than the traditional centralized exchange commissions. If EBay does one day prove to be a better indicator and thus a challenging competitor, then the central commodity commissions like COMEX will do everything they can to regulate EBay out of the market. If the public 'price trust' is transferred to EBay from COMEX, most people will still not trust centrally planned commodity prices so quickly again.

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Sep 16, 2016
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Nov 08, 2015
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I found a lot of useful NEW
by: Anonymous

192.168.1.1 found useful and interesting information, thanks for the post

May 31, 2015
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Nov 26, 2012
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Ebay is the 'Commodity Exchange' for the Average Person... NEW
by: Anonymous

Thank you JD.
I am sure there are many reasons prices will vary from one trading method to another when it comes to precious metals, but, the fact that average 'people' (specifically NOT PM traders and serious collectors or 'stackers') are willing to pay the price on Ebay does give us some idea of the general population's 'opinion' on what the price and value of precious metals are currently for the average person (not industry traders etc).

Nov 24, 2012
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follow up on earlier statement NEW
by: JD Mak

What I left out of my earlier comment was perhaps the most important part of my message.
Silver and gold prices are higher on eBay only because they reflect the low margins after the exorbitant costs of selling on eBay are factored in. A seller MUST sell at an inflated price in order to just break even.
I do not, therefore, see eBay as a good or reliable indicator of precious metals pricing. It is anything but.
If you buy numismatics on eBay, fine, but stick to slabbed pieces or buy only from dealers with extremely high feedback and high rates of customer satisfaction and a buyer friendly return policy.
I cannot recommend eBay to those looking to sell precious metals and I cannot recommend it as a reliable indicator of trends or prices.

Nov 24, 2012
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Get a quote first NEW
by: Anonymous

JD Mak
Ebay and paypal charges are right around 17% on metal sales and other categories. How many local coin dealers operate on less than that margin on a buy and sell. Most local dealers I've seen charge AT LEAST 17% on BUYING AND SELLING. Ebay only charges the seller. Local dealers lowball the heck out of you when you try to sell. One coin dealer I called said they paid .15 (15cents) PER GRAM, $4.67 an ounce for 90% silver coins. When the spot price was in the high 26 dollar range. I told him he was a crook and promptly hung up.

Nov 24, 2012
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eBay is for buying PM's...not selling them NEW
by: J D Mak

Ebay is not seller friendly in the least, especially in regards to unloading precious metals. Once the cost of listing, selling and PayPal charges have been factored in, you'll quickly understand that need to see quite a jump in spot price before you can expect to just break even. Don't think that you can buy at or below spot on eBay and turn around and sell it on eBay and make any kind of profit without a considerable increase in spot price. There are eBay fee calculators readily available to anyone who wants to verify this. EBay is disparagingly referred to as FeeBay for a reason.
Buying on eBay can be profitable, but mostly with lesser collected foreign junk silver and only at odd hours of the early morning when few folks are up and bidding. I used to buy like this, but it's just not worth the effort any more to save a few cents here and there.
My advice? Buy from a reputable local dealer and sell to the same local dealer once you're ready to sell. If you must use eBay, limit it to purchases.

May 21, 2012
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Whoops forgot my link
by: Tommy

Actually I meant to include the link to this page here. I must have not done something right because it didn't show up. So I'll try again.



http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=0

May 21, 2012
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You are Right!
by: Anonymous

I was going to look up some silver coins on Ebay since the price has dipped, and to my surprise the prices just for washing quarters where above $5.00 and some where going as high as $6. You are right Ebay is a better indicator then all the rest.

Ken

May 20, 2012
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Best site for actual silver sale prices
by: Tommy

Dr. Kevin,
This site is the best I have found, that shows the actual prices that various forms of PHYSICAL silver has sold for recently. It is constantly updated and much more indicative of how much your REAL SILVER is worth. Forget all that manipulative BS that comes from the Crimex or any other organization. These guys tell it like it is. Live long and prosper, by stacking physical silver AND gold. It's your only chance...

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