Massive analysis of close to 250'000 American silver eagles sold on eBay
Stefan Pernar
I have compiled an analysis of close to 250'000 American eagle silver
ounces sold on eBay and found that buyers a willing to pay as much as
90% premiums:
Feedback welcome!
Cheers,
Stefan Pernar
note.boy
"Stefan Pernar" <stefan...@gmail.com> wrote in message
news:c7cdb0a8-dac9-4b53...@n33g2000pri.googlegroups.com...
Why would anyone pay a 90% premium for what is a Government issued silver
round?
Is it due to the MS70 phenomena? Billy
Doobie Keebler
> Why would anyone pay a 90% premium for what is a Government issued silver
> round?
Bubble psychology. Read "Extraordinary Popular Delusions and the
Madness of Crowds" by Charles Mackay,
It's rampant: besides Eagles, consider that a plain Johnson Mathey 1
oz round recently sold on eBay for $18.53, while 1 oz Engelhard bars
have recently sold for $17.50, better than 50% premiums over spot.
I think the 'rational investor' saw the DOW plummet from 14k to 8k,
checked their 401(k) balance, and began a flight to safety. Some
(perhaps many) chose 'real money' in the form of silver, and the easy
way to buy it is on eBay. (Never mind the US Mint offers an on-line
list of local authorized dealers. /snark/)
But, hey! You can find 'no sales tax' and 'free shipping' on eBay, so
it _must_ be a good deal, right?
(/double-snark/)
.d
p.s.
by 'rational investor' I mean 'panicked sheep'.
Michael Benveniste
> But, hey! You can find 'no sales tax' and 'free shipping' on eBay,
> so it _must_ be a good deal, right?
Late last year, I purchased a roll of ASE's on eBay, because with
Microsoft's live.com promotion discount of 20%, I ended up paying
less than the spot price for raw silver.
--
Michael Benveniste -- m...@murkyether.com (Clarification required)
Utinam logica falsa tuam philosophiam totam suffodiant!
Bruce Remick
"Michael Benveniste" <m...@murkyether.com> wrote in message
news:6u8h4eF...@mid.individual.net...
> "Doobie Keebler" <koop...@gmail.com> wrote:
>
>> But, hey! You can find 'no sales tax' and 'free shipping' on eBay,
>> so it _must_ be a good deal, right?
>
> Late last year, I purchased a roll of ASE's on eBay, because with
> Microsoft's live.com promotion discount of 20%, I ended up paying less
> than the spot price for raw silver.
And you didn't share that opportunity with just a few of your closest
friends here........? Oops. Maybe I don't want to hear your answer.
Michael Benveniste
> And you didn't share that opportunity with just a few of your closest
> friends here........? Oops. Maybe I don't want to hear your answer.
No excuses. It was so commonly reported on the various forums I
frequent I didn't think of passing it on myself. Oops.
For those of you wondering, you found an item you wanted on eBay
that had a "Buy It Now" price you could live with. You then
opened your browser to live.com, and tried various descriptions
until you got one which offered cash back via eBay. You clicked
that link, found the item you knew you already wanted, and bought
and paid for it with PayPal, making sure the discount still
applied before checking out. 60 days or so later the rebate showed
up in your Paypal account.
The maximum limit per item was $200, and something like $2000 per
person for the program.
While live.com still has a cashback program, it no longer includes
eBay and is no longer nearly as generous.
--
Michael Benveniste -- m...@murkyether.com (Clarification required)
Tam exanimis quam tunica nehru fio.
Bob Johnson
>Microsoft's live.com promotion discount of 20%, I ended up paying
>less than the spot price for raw silver.
Probably part of the reason for jumps in premiums on bullion items.
As folks learned about the live.com promotion and how to use it to
buy these items, the demand and premiums went up. Notice the
premiums peaked in late October 2008 and have been declining since.
Gold: http://blog.cyrrion.com/?p=4
Silver: http://blog.cyrrion.com/?p=6
Best Regards.
Bob Johnson
http://www.coinsheetlinks.com
Doobie Keebler
> Late last year, I purchased a roll of ASE's on eBay, because with
> Microsoft's live.com promotion discount of 20%, I ended up paying
> less than the spot price for raw silver.
Sweet!