2015 Sterling Silver Scrap Drought

[FriedrichVonHayek]

I have been buying and selling Silver for around six years and I can't seem to buy any Sterling Silver at a reasonable price on ebay or by going to auctions.

Its not as if it is scarce,there is plenty about but it seems to go for inflated prices.

I also used be able to pick Sovereigns up at my local auction far cheaper than the internet but now it is nigh on impossible.

I watch with amazement as people buy bog standard Sovereigns for £230-£250 (inc premiums) which you can buy from Atkinsons for £200,its as if they have never heard of the internet!

To be honest buying coins from Germany looks to be the best option,I will give the auctions a few more months to see if prices settle down again. 

[sovereignsteve]

I have been buying and selling Silver for around six years and I can't seem to buy any Sterling Silver at a reasonable price on ebay or by going to auctions.

Its not as if it is scarce,there is plenty about but it seems to go for inflated prices.

I also used be able to pick Sovereigns up at my local auction far cheaper than the internet but now it is nigh on impossible.

I watch with amazement as people buy bog standard Sovereigns for £230-£250 (inc premiums) which you can buy from Atkinsons for £200,its as if they have never heard of the internet!

To be honest buying coins from Germany looks to be the best option,I will give the auctions a few more months to see if prices settle down again. 

Yes, I've stopped buying sovereigns from auctions recently. As you say some people paying ridiculous prices when you factor in buying fees.

[FriedrichVonHayek]

Yes, I've stopped buying sovereigns from auctions recently. As you say some people paying ridiculous prices when you factor in buying fees.

The frustrating thing is that I am not far off achieving my stacking target and had hoped to conclude my Silver purchases this year, then I was going wait until the Gold Silver ratio drops to under 55 before swapping my Silver for Gold.

I really want to concentrate on paying down my mortgage while rates are low rather than buying Silver.

Maybe it is the proliferation of T.V programs featuring various types of auctions that are attracting fools thinking they can make some easy cash.

[Danny-boy]

It does seem that all sterling has risen in price over the last 6 months, people asking for silly money (and some people seem to be paying it).

[FriedrichVonHayek]

It does seem that all sterling has risen in price over the last 6 months, people asking for silly money (and some people seem to be paying it).

It looks like I will have to bite the Bullet and start buying coins again.

I just didn't really want to have to deal with eBay when its comes to selling coins.

My scrap bars are much easier to liquidate through a scrap dealer than messing about with eBay.

This site while it is an excellent resource,it would be no good for selling as the members are pretty savvy so they would probably not want to buy any coins if the price spikes.

[sovereignsteve]

It does seem that all sterling has risen in price over the last 6 months, people asking for silly money (and some people seem to be paying it).

I've been looking at GB silver coins (?scrap) over the past couple of years and the selling price does fluctuate somewhat. Difficult to put your finger on why, guess it's just like most things on ebay, there is a good time to buy and a good time to sell.

[FriedrichVonHayek]

The last coin auction I was at in February the price of Pre 1920 Silver was selling for 40p-47p per gram when the scrap price was around 29p.

The pre 47 coins were not much better.

If my maths is correct that makes the premium on Pre 1920 Silver 30%-60%.

[sovereignsteve]

The last coin auction I was at in February the price of Pre 1920 Silver was selling for 40p-47p per gram when the scrap price was around 29p.

The pre 47 coins were not much better.

If my maths is correct that makes the premium on Pre 1920 Silver 30%-60%.

the last time I monitored ebay, I would guess the premium was between 20 - 20%

there was a period late last year when I bought some 500 and 925 for pretty much spot although premium was generally about 10-15%

I have had prices at auction vary enormously, depends more on type of coins rather than just scrap.

[FriedrichVonHayek]

http://www.ebay.co.uk/itm/41-x-British-Locomotives-in-Solid-Sterling-Silver-Inaugural-Edition-John-Pinches-/351360703127?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2047675.l2557&nma=true&si=hYm8hYvw%252BpAZkqvOIKgqBX7Mh2Y%253D&orig_cvip=true&r

 

The drought is over!

Don't know whether to resell or melt at a later date.

They cost me just under 28p per gram.

[watchesandwhisky]

Nice pickup, they would have gone for more in the bullion section for sure. 

[FriedrichVonHayek]

Nice pickup, they would have gone for more in the bullion section for sure. 

Its very seldom that Silver gets listed in the wrong section nowadays.

They were only bid up to around £70 with a few minutes to go,I thought I was going to get them even cheaper!

Still I am more than happy with the final price.

Great youtube channel BTW!

[watchesandwhisky]

Ah yes the last second snipe bids, Still was probably just dealers who underbid, Great price ! Depending where and how you resell I'm not sure the margins would be there to do it on ebay. Thanks I appreciate that