NUMISmatic What? … a Ninja Guide to DIY Silver Acquisition!
Here are a couple of things to look out for when you buy through online auctions … 1) You’ll find all sorts of listings on eBay for instance. What you need to be keenly aware of is exactly what you are buying. For instance, here’s an example bid description: NORFED $10 LIBERTY DOLLAR 999 PURE SILVER COIN What they fail to mention anywhere in the text is that the coin is only a 1/2 ounce of actual silver. You have to look at the picture of the coin to see that it’s stamped as a 1/2 ounce of pure .999 silver. Shipping on this item was $4, and it sold for $11 All said the buyer paid $15 for a 1/2 ounce of silver. As of the time of writing this article spot price on silver is about $17.50. At this price the buyer would have essentially paid $30 ($12.50 over) for an ounce of silver. Now I will say that the Norfed coins are actually collectibles so this could be why it commended a premium price. But the facts are still the facts, in regards to the spot price of silver as is dictated in the market – they over paid. 2) I also came across a few of these … 1997 MS70 American Silver Eagle Buy Now prices were all between $495 up to $800 One auction had multiple bids with the highest at $52. This coin is listed on Numis at $500. I’m pointing this out because it has been stated on multiple occasions that “collectibles” or anything else for that matter is worth exactly what someone is willing to pay for it. As is illustrated in the aforementioned auction … Consumers are willing to …
Damn they sold them to you for less than what we pay for some of them.
are u offering people a buy it now price to finish the auction?
because u cant get it that cheap on ebay ?