Another Silver Thread

[krw]

With the price of Silver escalating higher at a rapid pace, seems like some Seller's on Ebay have silver (ASE's) priced as much as $10 below current Spot. Free Shipping. Of course sales tax would have to be added. Just a hds up.

 

[mirglip]

As of a week ago, dealers were paying 4 bucks under spot for triple nine, has it changed since then? I'll check local dealers tomorrow.
Dealers are flooded with sellers and they only have so much cash.
The demand is not so much from private investors in the US, it's from foreign investors and industrial demand.
Since there is no link between US private sellers and foreign private investors, the warehouses and refiners are able to bottleneck commerce.

 

[NikA]

eBay is full of fake silver rounds. Would not buy from anyone there that's not a known dealer unless you can verify yourself and you're willing to risk losing out on a fake.

 

[jack black]

why I only buy stocks and use my Roth

 

[Oldrifle]

That does seem a little odd. With silver climbing like it is, seeing ASEs listed that far under spot makes you stop and look twice. After tax it probably evens out some, but still worth paying close attention to the seller and feedback. Good heads up.

 

[Blackhawk Convertable]

The ONLY reason to sell that far under spot is they are selling counterfeit silver. DON'T ever buy from eBay, Temu, Auction houses, etc. Buy only direct from the reputable dealers like Kitco, Silver.com, APMEX, SD Bullion, JM Bullion, etc. If you have a local dealer with a tester, great. But I've seen too much fake silver being passed to trust anywhere else.

 

[krw]

Personally, I think that the Silver was listed for X amt time, and with Silver price escalating rapidly the Silver appreciated while the price could not be changed. The Seller will still make His profit, just not the profit He could have made. Just my thot on it

 

[Joe Chartreuse]

The ONLY reason to sell that far under spot is they are selling counterfeit silver. DON'T ever buy from eBay, Temu, Auction houses, etc. Buy only direct from the reputable dealers like Kitco, Silver.com, APMEX, SD Bullion, JM Bullion, etc. If you have a local dealer with a tester, great. But I've seen too much fake silver being passed to trust anywhere else.

I have seen counterfeit Apmex. Looked perfect and carded- until they started rotting. Can't be too careful.

 

[NikA]

Personally, I think that the Silver was listed for X amt time, and with Silver price escalating rapidly the Silver appreciated while the price could not be changed. The Seller will still make His profit, just not the profit He could have made. Just my thot on it

It's trivial to change price on an eBay listing, or cancel and re-list. No one in the business of dealing in real silver is taking a 10-15% cut on sale price.