eBay vs. CRIMEX: Will the Real Precious Metal Price Please Stand Up?

Posted: November 30, 2008 in Your Money, Your Silver Lining
Tags: , ,

Ebay Silver Maple Price Summary for Sunday, November 30, 2008

eBay Silver Maple Price Summary for Sunday, November 30, 2008

This screenshot is courtesy of the chaps and www.24hgold.com who I believe have performed a huge service to precious metal investors the world over with a fantastic new price discovery website that monitors eBay transactions for gold and silver coins and bars. The results in terms of the per ounce premium price disconnect (especially for Canadians) are astounding. As of this weekend (Sunday, Nov 30/2008) the per ounce price differentials are as follows:

  • GOLD
  • COMEX Spot: $817.83 US / $1013.14 CDN
  • AVG. EBAY 1Oz Maple Leaf Price For Friday: $1263.81 CDN
  • That’s a 25% Premium over Spot, or $250 CDN / Ounce !!

And the price differential of CRIMEX spot vs. eBay silver, especially Maples, is more than double…

  • SILVER
  • COMEX Spot: $10.31 US / $12.78 CDN
  • AVG EBAY 1Oz Maple Leaf Price For Friday: $29.74 CDN
  • That’s a 117% Premium Over Spot, or $16.96 CDN / Ounce !!!

The website does point out the difficulty is separating out shipping prices from eBay bids, so some shipping cost is probably worked into the eBay price. Also, prices for gold and silver bars are closer to the spot price, but still much, much higher.

I encourage you to check out this fantastic new service at: http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=2

Now if only some clever individual would start a banner charting service for this so we can rid ourselves of the ridiculous Kitco CRIMEX spot price spam graph …

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Comments
  1. straydog01 says:

    nifty little tool…thanks for the post.

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