Who is following the 1oz silver prices on eBay.co.uk ?

[Paul]

Silver & gold are becoming unaffordium & unobtainium  

[Seth]

Thanks to that evil genius @MancunianStacker if been having the odd looksy at silver and gold on eBay, I haven't bought any precious metals off of eBay I don't think it's a reliable yet alone reputable place to buy precious metals,  anyway something that I noticed this evening while making a few purchases, the silver proof 50p Brexit coin that the Royal Mint released this year with a limited mintage of 47,000 coins is now cheaper to buy off of eBay from flippers than it was to buy directly from the Royal Mint, my mate bought one from the Royal Mint when  they where first released and I think his cost him either £60.00 or £65.00 in total including the postage, I'm now seeing the majority of the ones for sale going from £45 to £55 on eBay, there the odd few going for more and at least one justifying asking £100.00 for his due to it's serial number.  If I was in the market to buy one of these coins and missed out at buying one directly from the Royal Mint, I'd be buying one now off of eBay, in fact if I didn't have any experience with just how good fakes can be right down to their C.O.A.'s I might have bought a couple for myself earlier tonight - I've seen fakes so good that the product not only fools the original manufacturer, the quality is as good if not better than the standard from the original manufacturer, but so does the paperwork, as in the serial number passes the manufacturers computer database search and records, as well as their anti counterfeiting measures, things like RFID chips built in the product so that it's journey from raw material to finished product, who worked on the product when and what they did, and the specs of the product that are all recorded on the original product's RFID chip, the counterfeiters are also faking them so that the fakes also include not just an RFID chip in the correct place, but it's also the correct make and model used for the particular run and version that the original has that was made by the original manufacturer.

[MancunianStacker]

25 minutes ago, Seth said:

Tanks to that evil genius @MancunianStacker if been having the odd looksy at silver and gold on eBay,

😂 you’re welcome! I sell the odd item on eBay and sold 100ozs over a couple of months a few years back, so have decent feedback that mention coins. Look for that and also maybe brand new coins that (may be) too new to fake???

[Seth]

2 hours ago, MancunianStacker said:

😂 you’re welcome! I sell the odd item on eBay and sold 100ozs over a couple of months a few years back, so have decent feedback that mention coins. Look for that and also maybe brand new coins that (may be) too new to fake???

I'm talking about fakes that are not only that good, but are being released almost at the same time and a little bit faster than the original manufacturer is releasing the originals. One example is hand made guitars - I can't provide a link because it relates to something that could be argued to be promoting myself, something that may benefit either myself of the company that endorses and sponsors me, the guitar I play - my ''red special'' the guitar that's been designed with me for my style of playing looks and personnel preferences right down to the woods it is made from, the density of the woods, the colour, type of finish, body shape, control layout, bridge, pickup - made for me by another endorser and sponsor, machine heads, the fretboard radius, neck shape, neck profile/thickness, weight....  Back in 2017 the company that endorses me for guitars released their 2018 catalogue for their ''standard line'' of handmade guitars, these catalogues come out around the October/November before the year that they go into production, these guitars are hand made, they're not hand made in the sense that there is a CNC operator loading in blanks pressing a button, unloading finished parts and refilling the machine again with blanks and all these finished parts are finally hand assembled, but these are properly hand made and finished by hand tools by a handful of people they start at about £9-£10K for their ''standard line' guitars with the one I actually use being a custom order that's not part of they're ''standard line'', so you can't get hold of the current year's guitar for the first 6-8 weeks or the year as the crafsman are building them even their ''standard line'', the companies that are producing the copies so good that they are able to fool bespoke custom hand made manufacturers are preording and paying big premiums on the most popular of their ''standard line'' models so that they get them first, the coppiers even go as far as to flyout and collect these guitars by hand from the original manufacturers biggest and best dealers that get first dibs and guaranteed guitars from the first handful that get made, fly back with them to the country that they get their copies manufactured in, and are disecting them and manufacturing copies of them at the same time.  So the original manufacturer who is struggling to keep up with demand and can only make around 50 guitars a month due to the labour costs and environmental rules in their country, the fakers are producing a few hundred a month due to the cheaper skilled labor costs and laxer environmental laws, and the fakers have inside knowledge, in the case of the copmany that sponsors me, it was one of their former quality controllers and materials requisition people that had set up a company to manufacture copies of their previous employers guitars and where ensuring that the fakes where being made with the right materials and parts, the right way to the right quality right down to the anti counterfeiting measures.  So you can't always relay on something being recent or even brand new as a way of weeding out fakes, if the counterfeiters are good enough to fool a company that hand makes their products in a single factory, it can be next to impossible for the average and even knowledgable buyer, even dealers to weed out the fakes even in person doing every non destructive test possible.  Just google the fake Moet champagne scandal, and it will shock you, you'll understand why and how a lot of the worlds top sommeliers where being fooled for so long with fake Moet, and why it had such a huge negative financial and legal repercussions for Moet.not to mention the massive damage it did to Moet's reputation, it didn't help that the fakes where only uncovered by accident/luck when Moet where doing a far far more rigorous self audit than usual so nodody knows to this day just how long it was going on for nor how many fake bottles of Moet where made or could still be out there - notice Moet is quite a good bit cheaper than it used to be it's now one of the cheapest champagnes that you can buy it used to be one of the most expensive not too long ago.  That's why when you'r disposing of empty liqour bottles especially stuff like smirnoff - currently the most faked spirit that we know of in the world, that you make sure your empty bottles break when you take them to your local empty glass bottle collection drop off point, don't drop them into the bins gently but throw them into the bottom of the bins so that they break and break any glass they land on.  For a funny one, look into Durex moving their manufacturing from the U.S. to China, that one will have you rolling on the floor.  I've even posted links on the forum to where the two major coin grading companies get their cases and labels made, and how the companies that these grading companies use are more than happy to sell anybody - well anybody willing to buy them by the thousands, the cases that they make and the labels that they print for the two major coin grading companies.

[Tn21]

I'm taking a break from physical ATM, unless there is an offer too good to refuse, unlikely given then fact that most are on the hunt for silver or gold at good prices. 

I don't think I will sell as of yet, apart from the odd piece here and there. Listening to the YouTube videos and commentary on lack of physical makes me sit up in my seat slightly, but selling in this market is not really part of my exit strategy. 

 

I have now began to dabble in the paper markets. 

[wolfiemac]

I find it laughable some of the prices even on FB for silver, people selling at high prices and using the excuse as tho its some sort of collectors item and its hard to get, as if your going to pay way way over price just cos the suppliers are closed..... " this is the best price you will get as no one is supplying them" lol , price is crazy low but come on 🤣

I still have a few coins to come from the mint, but i'm still buying bullion half sovereigns, they are handy for a rainy day and sell really quick as people seem to want them all the time, and don't take up space.

 

[Seth]

  

1 hour ago, wolfiemac said:

I find it laughable some of the prices even on FB for silver, people selling at high prices and using the excuse as tho its some sort of collectors item and its hard to get, as if your going to pay way way over price just cos the suppliers are closed..... " this is the best price you will get as no one is supplying them" lol , price is crazy low but come on 🤣

I still have a few coins to come from the mint, but i'm still buying bullion half sovereigns, they are handy for a rainy day and sell really quick as people seem to want them all the time, and don't take up space.

 

Atkinsons Bullion set out an email yesterday say that the reason why their website looks so sparse is that they simoly can't source any physical precious metals right now on top of the whole covid-19 thing.

[wolfiemac]

1 hour ago, Seth said:

  

Atkinsons Bullion set out an email yesterday say that the reason why their website looks so sparse is that they simoly can't source any physical precious metals right now on top of the whole covid-19 thing.

I don't think it makes a Britannia's or other bullion coins collectable to warrant selling coins at a price when silver was up on a high tho, saying its because lack of supply.

Just my thoughts tho, I will buy silver but not when I see a description like that.

[Seth]

27 minutes ago, wolfiemac said:

I don't think it makes a Britannia's or other bullion coins collectable to warrant selling coins at a price when silver was up on a high tho, saying its because lack of supply.

Just my thoughts tho, I will buy silver but not when I see a description like that.

I agree it makes the whole point of ''spot price'' pointless.  The dealers on eBay who are now asking up to £70.00 for a 2020 silver Britannia aren't going to buy any silver off of you at close to £15 an ounce, and there are quite a few bullion dealers who's websites show that hey have no stock of anything, yet their private eBay selling profiles are full of thoursands of ounces of silver for sale.

[sovereignsteve]

Most businesses will milk the current situation for every ounce of profit they can. It's the nature of business.😎

[Troy77]

On 26/03/2020 at 09:25, Paul said:

As we all have time on our sides not being at work currently

I have been following the prices 1oz silver coins are making on eBay.co.uk and it makes for wierd times.

Dealers are closed & shelves are bare anyway.  Spot price is on its arse £12 give or take a few pence

Prices I am seeing looking back is no shortage of coins selling from £20 to £40 an oz, even common genric bullion, £20-£30oz

Prior to this crisis and a slightly higher spot price £16-£20 was you typical selling price for standard bullion, ie maple

Looking at my £ average cost per oz im now sub £19oz for a great many items.  good for me as at one time it was £33+oz

Is it wise to take some profits ? in this window, if i can make £10 on a 1oz maple or ASE

Clearing a few x100 oz over the next 2-3 weeks through ebay would keep me busy, get me some cash in? make some fiat profits

I feel when dealers reopen and shelves slowly fill again prices will decrease back down again to more normality.  how far in future will this be ??

Or best to still just hold and keep,HODL.   things will be certain to go higher with no production being made at these prices

Is it certain we are due a moon stock upwards before long as this corona virus pans out ?

Anyones thoughts while we are board stuck at home

(ps im not doing anything thus far) just making a point for discussion

Just sold my first 2020 Britannia for £33.49 on eBay. I have zero income at the minute so I don't feel guilty about this.

If you wanted to lock in some profit I would do it as we don't know if they will let us post if we go to full lockdown.

By the way my post office is in my local co-op which I have to go to every day for supplies because of the restrictions and I have an above average family size. So I don't thing I'm causing any additional risk of infection.

[Paul]

25 minutes ago, Troy77 said:

Just sold my first 2020 Britannia for £33.49 on eBay. I have zero income at the minute so I don't feel guilty about this.

If you wanted to lock in some profit I would do it as we don't know if they will let us post if we go to full lockdown.

By the way my post office is in my local co-op which I have to go to every day for supplies because of the restrictions and I have an above average family size. So I don't thing I'm causing any additional risk of infection.

Are post office still taking parcels as normal ? has anything changed with the virus.  i have never had anything to send off since the semi lock down at start of last week 

[Troy77]

There is no restrictions on post at the moment. Not sure what's going on with the virus, not really following it. Just trying to keep things as normal as I can.

[Tattoedamat]

Sent a special delivery package out at 16.00 today no issue

[Serendipity]

It might come as a complete surprise to many but I’ve purchased more gold coins online during the coronavirus pandemic than at any other period. The only difference is that I’ve bought more numismatic coins because of the difficulties dealers have with accessing international bullion coins. In fact, I’ve now got a backlog of numismatic sovereigns that I need to showcase on the forum despite being furloughed for three weeks because of the pandemic. I never do anything by halves and love to research the history behind a numismatic piece before showcasing it like a true numismatist. I’ve got another sovereign arriving tomorrow by post along with an air-tite capsule from the US.

[wolfiemac]

1 hour ago, Troy77 said:

Just sold my first 2020 Britannia for £33.49 on eBay. I have zero income at the minute so I don't feel guilty about this.

If you wanted to lock in some profit I would do it as we don't know if they will let us post if we go to full lockdown.

By the way my post office is in my local co-op which I have to go to every day for supplies because of the restrictions and I have an above average family size. So I don't thing I'm causing any additional risk of infection.

It was said that once the tests are sorted the royal mail are going to be dropping off and picking up the tests from NHS residents, so i think the PO lads and lasses are going to be busier than xmas..... so get ya coins sold mate. 

[universalcurrency]

2 hours ago, Troy77 said:

Just sold my first 2020 Britannia for £33.49 on eBay. I have zero income at the minute so I don't feel guilty about this.

If you wanted to lock in some profit I would do it as we don't know if they will let us post if we go to full lockdown.

By the way my post office is in my local co-op which I have to go to every day for supplies because of the restrictions and I have an above average family size. So I don't thing I'm causing any additional risk of infection.

I would offload those fast, in a few years time people might see 2020 as an unlucky year or at least a reminder of a year they would like to forget.  Cracking price if your selling. 

[sovereignsteve]

2 hours ago, Paul said:

Are post office still taking parcels as normal ? has anything changed with the virus.  i have never had anything to send off since the semi lock down at start of last week 

My local post office is closing at 1pm these days due to it being so quiet but the post is being collected as normal. I've sent off loads in the last couple of weeks, no issues at all.

[Paul]

4 minutes ago, sovereignsteve said:

My local post office is closing at 1pm these days due to it being so quiet but the post is being collected as normal. I've sent off loads in the last couple of weeks, no issues at all.

Thank you Steve, much appreciated 

[Troy77]

45 minutes ago, universalcurrency said:

I would offload those fast, in a few years time people might see 2020 as an unlucky year or at least a reminder of a year they would like to forget.  Cracking price if your selling. 

Off load fast that sounds like cheap to me. They might see it as unlucky. I don't mind if they sell on not, hoping to have a monster box of these by the end of the year. I think it's going to be a good year for these, low mintage maybe. I have one of these in my pocket everywhere I go so hopefully not unlucky😁

[HGr]

43 minutes ago, universalcurrency said:

I would offload those fast, in a few years time people might see 2020 as an unlucky year or at least a reminder of a year they would like to forget.  Cracking price if your selling. 

If production drops massively, it could end up being lower mintage

[Troy77]

So far today I've sold a Krugerrand, a valiant, a Britannia and a royal arms all for around £30.

 

[wolfiemac]

1 hour ago, universalcurrency said:

I would offload those fast, in a few years time people might see 2020 as an unlucky year or at least a reminder of a year they would like to forget.  Cracking price if your selling. 

Or it could be a belter year for collectors, with all production halted 2020 coins of all types could be sort after 

[8phwt]

13 hours ago, wolfiemac said:

Or it could be a belter year for collectors, with all production halted 2020 coins of all types could be sort after 

I agree