Scrap sterling selling at $22+ per ounce on ebay?

[Trailrider]

Morning guys, I'm new in the buying gold/silver and have somewhat read over your threads. Do you recommend a seller or website to buy from? Possibly someone in the NE Ga area I can speak to face 2 face?

The problem now is that the prices people are selling it for are highly inflated over it's actual worth. As of this morning it's "valued" at $27.89 per ounce. But most exchanges and places like eBay that have stock are asking between $35-$40 per ounce this morning. Most exchanges that have it listed for close to spot price are out of stock so you'd be stuck with those higher prices.

Long story short, if you buy today at today's prices you're going to be in the hole from an investment standpoint. When things die down and ever get back to normal silver probably goes back to under $20 an ounce like it was just a month ago.

TLDR: Should have already had some silver.

 

[fastfish66]

Are you in a hurry? If not I would sit on what you have..Last few days when it went over 29, I since I am in for the long run I smiled..I could cash in for a hell of a profit but, with the volatility of precious metals right now. I'll just sit on it...

The Fonz say's SIT ON IT!

 

[DinkyDau]

The Fonz say's SIT ON IT!

AAYYYYYYYYYYYYYYYYYYYYYYYYYYYY

 

[boomer]

Seriously? WOW! I need to get busy. I had no idea. I just checked some recently closed auctions for clean scrap.

Unbelievable.

On a side note. Copper mines are shutting down due to Covid and the price of scrap copper is going to be close to 3.00 per pound some say 10.00.

 

[palmettomoon]

On a side note. Copper mines are shutting down due to Covid and the price of scrap copper is going to be close to 3.00 per pound some say 10.00.

Damn! Gonna have to put up an electric fence around the A/C unit.

 

[Jeddak]

The problem now is that the prices people are selling it for are highly inflated over it's actual worth. As of this morning it's "valued" at $27.89 per ounce. But most exchanges and places like eBay that have stock are asking between $35-$40 per ounce this morning. Most exchanges that have it listed for close to spot price are out of stock so you'd be stuck with those higher prices.

Long story short, if you buy today at today's prices you're going to be in the hole from an investment standpoint. When things die down and ever get back to normal silver probably goes back to under $20 an ounce like it was just a month ago.

TLDR: Should have already had some silver.

The premium spread is not overvalued. It is showing how much silver is undervalued. Paper contracts set the spot price, but there is not enough physical silver around for the demand.

On a side note. Copper mines are shutting down due to Covid and the price of scrap copper is going to be close to 3.00 per pound some say 10.00.

Most of the new silver does not come from silver mines. It is a byproduct of copper (and zinc) mines. Less copper or zinc mined means less silver on the market.

 

[Jeddak]

 

[draftpick]

Silver is down $3 an ounce so far today