[jamaicabound]

I recently got a call from eBay customer service rep. Said they have seen that I sold silver in the past and if I have any more or buy more I should start listing. A few top sellers on eBay are doing a million in sales a week. Now granted margins on silver are small and ebay fees take a good chunk but still money to be made.

I was doing some research on Terapeak and tons of sellings are doing a mill a week or close to a mill a week, plenty of business to go around. Best of all it's a recurring purchase, most buyers will buy a few coins each pay check.

If anyone sells on eBay and either has silver or has a connect some money can be made. If anyone would want to partner up I have a top rated seller/power seller account with a good following and I get pretty good ebay and Paypal discounts so wouldnt' be opposed to partnering up.

One other interseting thing if anyone gets into this, ebay generally lags behind spot prices by about 5 days to a week so say you buy silver at 22 and it drops to 20. You can still sell for about 26 on ebay for a few days before buyers and sellers on ebay catch on and prices adjust to follow market.

Just thought I'd share that info to anyone with a connect or sitting on silver they bought years ago at cheap prices.

[john54]

How much does it cost to get a coin or two to a customer?
I would think it needs to be insured and delivery confirmation.
How do you package it?

[jamaicabound]

(02-27-2014 07:33 PM)john54 Wrote:  

How much does it cost to get a coin or two to a customer?
I would think it needs to be insured and delivery confirmation.
How do you package it?

First class shipping on like a 3 ounce package with is more than enough with a one ounce coin and some padding is about $2 now, shipping prices just went up from I think what used to be $1.79.

You don't need to purchase insurance, honestly majority of stuff is going to get there, your better off playing the odds and not buying insurance. Plus I know USPS doesn't insure currency, not sure about silver, but even if they do it's such a pain in the ass collecting on insurance it's just not worth the time. For large orders I use companies who insure high end jewelry to insure my packages, they will insure coins and even currency basically no questions asked as long as I provide tracking number and it has a scan in from Fedex so I have proof I dropped it off. As long as majority of your packages arrive it's always cheaper to not buy insurance and pay for the occasional lost package than paying for insurance your generally not going to have to use. You always want delivery confirmation or all someone has to do is say they didn't get a package and they automatically get a refund and keep your silver too. Delivery confirmation is free with all USPS so no extra charge there.

As far as packaging look online for coin and banking supply companies you can get little sleeves in bulk for nothing

[john54]

If you already have it why not hold it for appreciation.
If you need to buy it for resale it will cost appx. $3 over spot with the big online dealers
and will take 3 weeks to receive it unless you pay with a credit card or wire and then the
cost is even higher.
During the waiting period you are also speculating on the price which can go against you as well as with you.
I see silver on ebay as overpriced so that's the edge if any.

[jamaicabound]

(02-27-2014 08:05 PM)john54 Wrote:  

If you already have it why not hold it for appreciation.
If you need to buy it for resale it will cost appx. $3 over spot with the big online dealers
and will take 3 weeks to receive it unless you pay with a credit card or wire and then the
cost is even higher.
During the waiting period you are also speculating on the price which can go against you as well as with you.
I see silver on ebay as overpriced so that's the edge if any.

You could say the same about anything, why do people sell gold, sports memorbilia, luxury collectible cars, bitcoins. Because people aren't in the market of sitting on things and speculating themselves, people who are sellers are in the business of selling and making money consistantly on the margins vs sitting on it themselves waiting for it to maybe go up or maybe not.. They aren't subject to something maybe appreciating or maybe not they are making money all the way along as prices go up and down.

Your looking at it as if someone would buy retail and sell retail. That is why I specifically mentioned if you have connections. A while back I was getting Monster Boxes of Eagles for 0.95 over spot. This price is unheard of even among big players in silver. It worked out well for a while, I wouldn't even sell on ebay or CL, I'd buy a box, and run immediately over the the coinshop who would give me $3.00 or $3.50 over spot depending on their stock and demand.

I quickly learned why though. Lady I was buying from claimed she was hooked up with the mint. I think even the biggest players pay like $2 over. She actually owned a coin shop and was buying in from the public at spot or under and reselling to me. It worked out for a while but eventually she oversold, I waited like 3 weeks for a box I already paid for and in that time silver went from like 28 to 22 and I got hammered.

Most people want Eagles but you can get pretty good spreads on generics like 0.29 cents over not even buying that much. I may test the waters and try that out.

Another strategy many people do is buy a monster box of eagles, rather than having it shipped to yourself you have it shipped to the grading company. They grade the box, it's not cheap will cost alot, however if you come out with a good ratio of MS68 and higher you can really cleanup reselling them as the value doubles or triples. If you hold them for at least a year, maybe 2 or 3 prices go up quite a bit as well.

[rudebwoy]

I am not interested in selling my silver, but if you have eagles for sell I know people who are interested including myself.
You can pm me your prices?

[jamaicabound]

(02-28-2014 03:06 PM)rudebwoy Wrote:  

I am not interested in selling my silver, but if you have eagles for sell I know people who are interested including myself.
You can pm me your prices?

I'm actually not sitting on any silver at the moment, I used to flip a few monster boxes a month but I had issues with the lady I was getting them from. I know most people want eagles but there's a pretty good market for generics and the marigns are much smaller. I'm thinking about buying up some generics, however I always have my eye on Eagles, Maple Leafs and Pandas. I think I'm buying some pandas soon and some generics. If I come across some eagles I'm always up to buy if the price is right so if I get my hands on some I'll pm you.

I was kinda surprised, I been talking to a lot of silver sellers lately. I always knew it was hard to get hooked up with the mint but I never realized how hard. I think you need like 10 mill liquid and I believe they currently only deal with like 7 or 8 people.