sell

Should You Sell your SILVER on eBay?

hey everybody it's silverseeker and in

today's video we're going to be talking

about selling your silver kind of like

the silver eagle right here or the

silver maple leafs

but specifically in this video we're

going to be talking about selling your

silver on ebay

and the reason we are doing this video

today is because uh last week as i

record this

we did have a video where we actually

called around to different coin shops

around the united states

and asked them if they are buying silver

and what they are paying

and that video got a lot of good

responses in the comments and i

appreciate that so thank you very much

a couple of those comments were people

saying that if they were going to sell

their silver they would sell it on ebay

because the prices on ebay are insane

and the thing you probably already know

is that it's not

actually that easy it's not as simple as

it sounds so we're gonna go over to ebay

we're gonna look at some eagles that are

selling

we're going to do the math on some that

are selling right now with buy it now by

looking at spot price

doing the math and figuring out how much

you get

over spot after all the fees and

everything else and then

you can decide for yourself if you think

it's worth doing or not

so that's what this is about guys so

let's go ahead and get over to it

i know you guys don't want to listen to

me talk for another hour before we get

into the meat of the video but i do want

to say really quickly

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videos all right guys let's go over to

ebay's website and get started and see

what we can find

okay guys we are now at ebay's website

but really quick we're going to go over

to kitco silver and we're going to hit

refresh so we know we are working with

the exact current spot price of silver

and

as you can see looking right here guys

the bid and the ask of silver

right now is 26.81 bid 2691

ask we're gonna go ahead and work with

ask because you're selling it so you're

asking for that price

all right so let's go ahead and get over

to ebay and take a look we're gonna go

ahead and search for silver eagles

and see what pops up uh it looks like

the first listing that we have as we

scroll down you can see these are all

slabs and stuff and boxes

the first listing we have as we scroll

down are these a lot of five

2020 american silver eagle coins one

ounce 99 fine silver in stock

so in stock ready to ship 186 dollars

and 88 cents they have sold 4031 of

these lots

uh so that is times five that's over

twenty thousand silver eagles

uh so obviously they're making some

money on them but let's go ahead and dig

into it and see what's actually going on

here so what we're gonna do

we're gonna pull up a calculator okay

now that we have our calculator up it's

time to do some math so 186 dollars and

88 cents so let's just go ahead and

quickly get some raw numbers

we're gonna take that number and divide

it by five so they are currently getting

37.37

for their silver eagles per coin selling

them in lots of five

but again it's not that simple so you

got to remember first off

that ebay charges 10

sellers fees for standard listings if

you don't have an ebay store

now if you do have an ebay store there

is a little bit of a discount for

coins bullion and paper money and we are

going to get into that in this video

but to get us started for the regular

everyday person that maybe has 20 eagles

that they're wanting to get rid of

because silver's going up

uh an ebay store is not going to be

something that's feasible

so we're going to go with the standard

10 so let's go ahead and take 186.88

and then we're going to times that by

0.9 and by timesing it by 0.9 that's

removing 10 percent

and that leaves us with 168.19

now if we divide that by five you can

see we have a significantly lower number

of 33 dollars and 63 cents

per silver eagle now if we subtract a

spot from that which is 26.91

that is a profit of 6.72 cents over spot

but it's not that easy is it because you

got to remember that

paypal takes three percent paypal also

charges a fee and generally is how

you're going to be getting paid on ebay

uh so what we have to actually do is

multiply it by 0.87 to remove 13 percent

and the reason that we're going with the

full 13 and by the way paypal charges

2.9 plus 30 cents per transaction we're

just gonna call it three percent for the

ease of this video

uh but now that we know that we have 13

total percent that's being taken out and

it is the whole 13

because paypal takes three percent from

the total amount that's paid which is

186.88

and then ebay will then later charge you

10 of the same

exact 186.88 so all we have to do now is

take our 186 dollars and 88 cents

and we're going to times that by 0.87

and that's going to remove 13 percent

leaving us with 162.58 now

something else you need to look at is if

you look at this listing right here

free shipping free shipping so

to ship five silver eagles and you guys

if you guys know this channel all you

know i ship a lot of stuff

to ship five silver eagles you're gonna

be spending between 350 and four dollars

plus the materials

uh because you're going to need a bubble

mail or something like that so we're

gonna we're gonna be conservative and

just call it a flat four dollars

so now let's subtract uh four dollars

from our 162 putting us at 158.58

now let's divide that by five and see

what we got now we're at 31.71 cents if

we subtract a spot 26.91

that is now just four dollars and 80

cents over spot that's still 4.80

over spot of course but most shops are

paying to

250 and even that east coast one in that

video that we did was offering four over

spot

that's a lot of hassle for just a couple

dollars if you're only selling a few

silver eagles now i said earlier in the

video that if you have a

shop if you have an ebay store uh the

fees do change a little bit so let's go

ahead and look at that so you can see

what it would be like if you had an ebay

store we're gonna look at two things

with ebay source first

we're gonna look at the difference in

fees so as you can see

coins and paper money is 6.15

if you have an ebay store as opposed to

10 but if we scroll up

i want you to note that the ebay store

costs

money seven dollars and ninety cents a

month seven dollars and ninety five

cents a month

for a starter store which is you know

minimal

uh minimal perks uh not a whole lot of

free listings

no you know not a whole lot of zero

insertion fee listings it's only a

little bit

uh for your basic store which is the one

most people are going to want to at

least start with

is 27.95 a month

now we're not going to figure in that

fee

into our math because if you have an

ebay store chances are

you're selling more than just silver

eagles so we're not going to figure that

fee

into this but i just want to point out

that to have an ebay store to get that

discount you are

paying a monthly fee to get the discount

so

that is something you need to keep in

mind but let's go ahead and do some math

with this new number and see what the

difference would be

if you had an ebay store so we're going

to take 186.88

and we're going to set or we're going to

multiply this by 0.9085 and what that

really

what that does is removes 9.15

from our equation okay so we're going to

take 9.15 percent out and see what we

have

left we hit enter now we're at 169.78

let's subtract our four dollars to ship

it and then

let's divide it by five now we have

33.15 and then we subtract

spot now we're at six dollars and

24 cents over spot so as you can see

with an ebay store the fee is definitely

a little bit less you get a little bit

more per ounce

uh on your silver eagles but again you

do have that monthly

fee so if you're selling a bunch of

other stuff as well that does work out

but again let's just say you're in that

east coast area

they're already paying you for over spot

so now you're only making an extra two

dollars and 24 cents that's if you have

the store

and that's if you ship as cheap as

possible without

tracking or you will get tracking but

you won't have insurance

and things like that and then also when

you're shipping your coins

from ebay you have to worry about the

post office and trust me

as much stuff as i have shipped i have

lost a couple of packages in my day

in fact just recently last month i lost

a package containing a five ounce silver

bar and a two ounce silver coin

that i have to replace because the post

office just stopped updating

you know the tracking on it on at the

end of july it's just poof

so that's something you have to worry

about as well another thing you have to

worry about is the buyers on ebay

on ebay if they get it and it has you

know discoloration like a fingerprint

or if there's a ding in it or if there's

anything that makes it not be

you if they file a complaint with ebay

saying the item was not as described

even if you don't have a return policy

you will be forced to take that back and

refund them their money

because the item is not as described and

that does happen on ebay as well so

something else to keep in mind

there so you have to deal with

with the nitpicky customers that may not

like the silver eagle because there's a

little yellow spot on it or it's not

they don't consider it brilliant

uncirculated because there's a scratch

you know that is also something you have

to keep in mind is it worth the hassle

is it worth the time and effort

uh to to do it it may be for you i'm not

i'm not here to tell you whether you

should or shouldn't i'm not telling you

uh whether it's worth your time or it

isn't i'm just specifically in this

video showing you the difference

um if you only have 20 to sell is it

worth you know the

the extra money you're gonna make

selling on ebay which is very little

uh and to deal with all the hassle and

the extra time of shipping it and

everything else or would you rather just

walk into the shop sell it and let them

make a little bit of money on it and

then you just pocket the money and go

so that's a decision for you to make

that's not a decision for me to make for

you

i just in this video again i wanted to

share the options

so there you go guys that is our video i

hope that it was informative

and if you guys did like the video

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thank you so much

thank you so much for watching guys and

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