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Should You Sell your SILVER on eBay?
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- Опубліковано 16 сер 2020
- Should you sell your Silver like Silver Eagles, Silver Maples and more on eBay? That's the question that we're asking in this video, and in the process we will do some math so that you have all the info you need to make that decision!
Have you sold Silver Eagles, Silver Maples and other Silver Coins and Rounds on eBay before? We want to hear from you... so leave a comment down below!
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#Silver #eBay #Selling
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Plus you have to consider the time it takes to list the auctions, the gas to the post office (multiple times). The long and short of it, is that Ebay sucks!!! They squeezed out the small sellers who made them who they are. I pray that another site will compete against Ebay and Ebay gets destroyed.
Don't be a small seller. Pony up and pay the for the eBay basic store subscription. Otherwise, have fun giving your premium coins over at spot to the LCS when you decide to sell
Thanks for Your feedback.
I was the guy going back and fourth with you about this last week. Very informative video. I just subscribed. Have a good one.
I sold some silver eagles to flip into gold but it wasn't fun paying the 10%
...and now you know the rest of the story! Very informative and well-rounded video, Silver Seeker! Thanks so much!
Thank you for this video. You made things very clear to me and again I learned a lot; thanks.
Excellent video Silver Seeker! Some people don't like paying the prices of the sellers, but it's still cheaper than buying from APMEX! And if you're a collector of silver eagles, you get to cherry pick the eagles you want! When you buy from APMEX or some other bullion company, you're buying sight unseen! Thats how I got my 96 silver eagle with a black carbon spot on it!
Great video. I used to do a lot of selling on eBay...not much anymore. I used to do a lot of buying in Ebay...not much anymore. I used to be able to get gold well under spot on EBay...not much anymore. Things sure have changed. Thanks SS!
Thank you Seeker! I have bought and sold on EBay. And you do have to calculate all the fees involved. Buy low and sell high is the name of the game!
Very Informative, That was a lot I never knew. Thank you for the useful information.
Glad it was helpful!
Very helpful content. Thanks!
Thank you for your advice. It was very helpful.
Good video, very informative, thanks .Peace
great info thanks seeker !
Great video!
I currently sell on eBay and I don't have an eBay store. Wasn't sure if I sold enough items to qualify. Your math helped with understanding the breakdown.
Great informative vid ! I use to sell on eBay many years ago and did not have all the fees they charge now. But as you know times and business change as it grew. I would not buy silver or sell silver on eBay. LCS I would look into to sell. Thanks again I found this very interesting.
Very good info thanks for sharing
Great stuff! thanks
I feel like eBay is too much of a hassle. I’ve sold on Etsy, dpop, and a few other large online sales platforms which is much easier and less or no fees
Thanks for the information. You have really helped me decide on store or eBay...Store wins..
Excellent Video! The only silver I ever sell on ebay is the low mintage (5k or under) 1oz to 5oz rounds, that brings a very high premium over spot. All my stacking silver stays stacked =)
I like silver seekers videos I find him the best out of all the silver channels respect buddy from Edinburgh Scotland
Great and informative video.
A lot of the items that show up first when you search, the sellers pay for being sponsored as well, which can be 2-5% of sale. Plus when you have no to little feedback you have to sell for less than sellers with that have been selling for years, definitely some items it is just easier/safer to take to LCS when selling. Great video!
True I just started selling on eBay and selling cheap to get reviews
Love your videos Seeker, you always put out great content. To me it would make more sense to sell on eBay if you only had a few to sell. But then again it depends where you live to. As in my case the closest shop that pays the best is 1-1/2 hours away and was paying $2.00 over spot for Eagles. For me if I only had a few I would sell on eBay. Now a few hundred it would make more sense to take that drive.
Thanks Mark, and I agree! If it's a long drive to your LCS, that changes things alot!
Interesting info 👊👍
Greaat video... love these informational videos ..See you Sat..
ebay was a decent place to sell, not anymore.
Nice research you are doing!! Its great to hear your feedback too!!⭐⭐⭐
Still, eBay is not my thing!
Yes but charge shipping and all cost to the buyer , if ebay wants to screw the seller .
Definitely good to buy from. Cheaper than new and no taxes. Ends up being cheap when you know how to spot the good range of deals and win the auction. Buy It Now is usually no good but auctions definitely can be.
Hold whatever silver you have unless you really need the money. I believe in the future that silver will one day reach a 100 a ounce, hopefully 😂
The last few weeks, I've been selling junk silver quarters and halves on eBay. At first I was doing $1 face with free shipping but realized that the shipping costs are exactly the same for anything below 4 oz, so I can sell $2 for twice the price and make a little more profit. The key for me is to price it below what the bullion sites offer. I also feel like I do better selling $2 vs selling a full roll because you're talking a $40-$50 purchase vs a $200-$250 purchase.
I'm sell on eBay so I can buy silver on eBay. Do you have a link to your store?
I've had a few coins from eBay delivered to my neighbor's house. One was a expensive key date Morgan.
Shipping is never "free". That's important for us all to remember. Somebody's always paying for the service.
The fees suck, but aren't terrible.
Take Returns, but make buyers pay Return Shipping. Offering returns is a sign of trust, which is balanced by the buyer having to pay to send it back if they don't want it.
The only gripe I really have is Insurance, and dealing with a malfunctioning Post Office in general
Best coin channel
Thank you Seeker, very informative! Whats next.. how about Instagram? I was thinking I might sell there.
Depends....... Always be on Team depends.
Thanks Silver Seeker
as a former powerseller with over 4000+ feedbacks, bulion is not the best thing to sell on ebay, I did but mainly coins, collectibles and sports cards...BTW no joke seeker I have well over 10,000 saint louis cardinals cards, I collected from when I was a kid up until about 4 years ago. so obviously the newer guys I dont have much, When panini came around without the logos, It really bummed me out. Since then its coins and silver only. (let me know if you ever want me to send some pics ) I have tons of stuff (graded,autos,vintage,rookies,low #ed etc.) I have always wondered some of you fav cardinals, I can almost guarantee I have his rookie + more lol..LMK as I have thought about sending you some cardinal stuff but was wanting to ask you that. Fav players/era. Thanks Seeker!
Excellent presentation prices on eBay souring with people so desperate to get silver
When I went to a coin shop they told me it doesn’t matter what the coin is they would pay by the ounce. My heart dropped and I started my own business 😎🤩
In the U.K. the shops only pay under melt
So it’s really not worth going to a store to sell
I would like to see a video on top 5 sources to sell to. All the bullion dealers say the same thing they pay the highest prices.
On Facebook, you can search "Coin and or Bullion Sales Forums" and join them. You can reach hundreds of investors and sell your items, virtually free of charge. Good Luck!
15% cost on average of total sale by the time you're done plus taxes and misc fees (gas, packaging, etc).
Sold my first silver bars and bullion on eBay this week. My gross sales were $630. I netted around $530. Their fees are too high. I’m looking for other options if anyone knows of any.
I heard eBay is now 13%
I wouldn't even sell old junk in my basement on eBay now. They report to the IRS if you sell $600+ worth of goods in one year. So now, you have to do additional paperwork at tax time showing the original price you paid for an item and how much you sold it for so that they can determine your net profit. (As though any of us can remember what we paid for some item 20years ago.) In addition to that absurd policy, there is the matter of the fees from both eBay and PayPal, plus packing and shipping, and finally the crooked customers who try to cheat you. No thanks. eBay can pound sand for all I care. I'll never sell there. I would very much rather support my local coin shops and enable them to make a fair profit so that they're around when I need them in the future.
5 Silver Eagles can be taped onto a piece of pasteboard & mailed for about $1.00 (2 stamps). Of course there is no tracking # with that.
Max weight for first class letters is 3.5oz so that's a bit off... wouldn't do it even if I could tho lol
i hate selling on ebay , i am selling off a huge toy collection and ebay does whatever they want , i had a buyer send me back an item that was smashed to piece luckily i was able to prove that the buyer switched the item , the way i do that is include a small mark on the packaging and include it in the pics where it can be seen but only if you know what you are looking for , the buyer was restricted , i will be glad when i am done with ebay
U may not think of this as selling coins, but as converting currency from one form to another: coins to electromagnetic impulses in your bank account (US dollars)
Hey eveeyone so I got a big collection dump today coin hunting in there I found a 1944 nickle that was clad and no mint mark I heard they were counterfits but the things that identify the counterffit mine doesn't have that anyone any idea? And value ? Thanks . good video to!!!!
Is t it 12% seller fee now plus the shipping
Yes, of course! There are so many fools on eBay, they pay any price 🤣😂
It gets worse... if you sell 5 coins to five different customers, then shipping charges go a lot higher. Not to mention, for bullion, you must send registered mail (exta cost) if you want insurance. So ebay is not for selling regular bullion IMO. Now if you have rounds/coins that sell at a significant premium, then it may be the way to go. Cheers!
How do you know if a coin is silver?
What do you do for insurance on gold and silver coins etc.that is mailed since USPS won't insure those things unless its register mail which cost a lot more? Do you use a 3rd party insurer? If so then who do you use? Thanks!
I just self insure most things I ship the cost of paying for shipping insurance is worse than losing a small package or two if you ship alot.
That makes sense, thank you.
The more you know
For me it depends on how old it is!
Sold only 1 coin on ebay. 2019s erp back in December. Made a healthy profit even after fees :)
Well that's kind of a different story ROFL
I was able to sell mine on a "maximum $10 fees for your next 5 listings" deal. That was awesome.
hi Seeker
Cannot agree more with this video. Selling coins and bullion on EBay is not worth the hassle. Fees to high, and customers can make it a miserable experience.
👍
After fees and shipping I was able to get $190 for a roll of walkers
Please forgive me if you covered this and I missed it.
Self INSURE and use shipping you can track. This obviously makes selling for a profit almost impossible, for most of us, on eBay.
Sellers are pretty much fully responsible for the delivery being successful. I see individuals on forums upset over buyers making claims for empty packages or missing shipments. Selling on eBay makes the seller a business. For most of us, one lost shipment is a significant impact. Even having to pay for a return and provide a full refund is a loss.
Fortunately for me I am on the East Coast and find selling to a reliable LCS is my safest and most trusted path. Buying from them sets up a great long term relationship.
The thing about insurance if you have to weigh the benefits to cost. I ship over 1k packages a year and have only lost a couple. If I had paid for insurance for every single one of those, the cost of insurance would have GREATLY exceeded the value of the couple of packages I've lost in the last 3 years. On high value packages I do insure them, but sub $300 I just considered myself the insurer.
@@SilverSeeker I agree. I was looking at this like the majority of private owners, whom are assessing if they can squeeze some extra profits from selling on eBay.
I sold 20 individual ounce bars a while back, pre pandemic. I profited a little over $30 after the eBay, PayPal, bubble envelopes and USPS postage costs. One lost shipment would have wiped out my profits or worse. The post office is a half mile away.
Today's higher premiums though have to be factored in.
I've actually been getting great deals because of eBay pain in the butt and our closest l.c.s is an hour away...I sometimes buy silver up here off people that don't want to waste time or gas for a few extra bucks going to an l.c.s. or doing eBay...ths week alone ive scored some eagles and other higher premium world silver for spot price..I save on buying...they save headache on selling...I told myself id quit buying at $20, however...ive co tinued buying the higher premium stuff anytime I can get it at spot up to the $30 range now...while we are.getting to prices I dont want to pay...I also think this is onoy tje beginning of what will be the greatest economic collapse in world history...all thee conditions.are ripe for thee insane high gold and silver prices many pumpers have been proclaiming for years...ar this point with very few places to put cash savings and investments...and it just beginning let alone a recovery ...metals I beileve will actually skyrocket at least the next 3 yrs...plus with things potentially being so bad...I'm not selling at any price right now...im stacking out of self defense right now , not for profit..what I am happiest about is I've stacked enough already to save my daughter and I if things get horrible....I hope people recognize the danger in selling and taking profits right now...make dam sure they all have enough saved to enjoy those profits without endangering their future...im not in that position ...I'm saving every last ounce...adding to it as I can...and converting it into higher premium stuff when able...scary times
Can’t post silver if on managed payments , trying to sell some off and won’t allow me to post
Ebay released a statement that when they force managed payments they'll allow some categories to use alternative methods like PayPal for now
Ebay has gotten too expensive for me......they are not seller friendly anymore.
This vid is a bit old but it's up to 12.9% for coins and bullion now, if I'm reading it right. Yikes, no wonder people are ditching ebay.
the seller is making no more than 1 to 2 bucks per coin when all said and done....he then will have to pay tax on the income at end of year....thats working REALLY close..
It depends on what you are selling.
I have done ok to not so great.
I doubt the LCS will give me a fair price for a 2016 Chiwoo, but someone via FeeBay will.
For some reason people don't know what the Finding Silver if series is so I am not selling those on FeeBay anymore.
RapePal charges 4%... I've calculated it. They might charge 3% at a certain price point... unless they are raping me and expecting that I would not feel it. My apologies for anyone who has actually been victimized.
FeeBay and RapePal will consume a minimum of 14% plus any listing fee.
If you sell on EBAY it is too easy to be ripped off from scam buyers. Ebay will always side with the buyer even if you have proof of being scammed. The buyer only has to say "not as described" or "pictured". They will send back anything or nothing. They will also wait several months and claim they didn't make the purchase. Either way the seller looses. Factor that into your profits and you will never win.
You actually SELL at the bid and BUY at the ask. That applies to retail investors which most people consuming this content are.
I sold 250 ozs. to APMEX - fast and easy they gave me over spot and had money to me within 24 hours of their receiving the silver
Ebay SCUKS!!
Oh thanks, eBay keeps telling me “sell now, theres no selling fees, list for free” but i guess they are lying and hiding the fees
If you read it, they're probably talking about listing fees. A listing fee is a completely different fee. You get so many free listing per month, then after that you have to pay just to list the item, even if it doesn't sell.
Regardless if you listed it for free or not, the final sellers fee still applies.
Lots of eBay coins are fake I would buy there
Let’s go Brandon.
Doesnt ebay own paypal ?? 2 fees lol ??
No... eBay and PayPal separated a long time ago.
@@SilverSeeker alot of people dont realize either that if you dont have really good positive feedback it's almost impossible to get that 188 $ price . I buy and sell comics for a living trust me . The asking price is never what the avredge person gets. Especially when the other company has sold 3k sets and has a 99 % positive and your selling your own 5 oz that someone has to worry are fake when they get them .
@@TheComicsDen True I won't buy silver from anyone under a 100% reputation however at the same time show them the same respect if we run into an issue giving them the benefit of thr doubt.
This video is a joke
Really? I see absolutely 0 context, just "This video is a joke"... at what point was I incorrect?
Great info! Thanks!