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
if you like this video and you want to
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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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