How to Buy Silver at 2 Dollars Over Spot

This is my tried and true method of purchasing silver at just 2 dollars over spot price. To walk into your local coin shop and pay 2 dollars over spot per troy ounce is not totally uncommon. It depends on your geographic location and it depends on the coin dealers in particular.

But there is another way to acquire your silver at just two dollars over spot price at the world's marketplace eBay. Whenever you buy silver bullion, coins, bars, or rounds sight unseen you must do your homework to avoid any regrettable purchase. But read along carefully and I'll tell you how I do it.

2 Dollars Over Spot on eBay

First and foremost, go to eBay's homepage and type in "1 oz silver round" for example. You get a long list of silver rounds that seems to go on forever.

silver 2 dollars over spotNext using the small selector near the top on the right side of the screen, order the search results to "time ending soonest". Now judging from the time of day, this can vary, but I navigate to the specific page that shows the rounds ending in the early hours of morning.

Auctions ending between 3:00am EST (12:00AM Pacific) and 9:00AM EST (6:00AM Pacific) work best for me. This is where you want to bid to avoid the last minute rush of evening ebayers. It is important you are aware of the current silver spot price at this time.

Select an auction for a 1 oz round that is currently bid below the spot price by at least one or two dollars. Look at the seller's feedback number. The amount of transactions he or she has completed successfully is critical.

It is a showing of trust based on past transactions, I call it a trust score. I use the number 500 as a bare minimum, obviously, the larger the better. I personally won't buy and silver from a seller who has not hit that mark.

Your Price Includes Shipping...

Calculate the current spot price plus two dollars and that becomes the absolute most you are willing to pay for any round, no matter how pretty, no matter how ugly. Take notice of the shipping cost, many coin dealers offer free shipping to the USA but if there is a shipping charge you must figure in the shipping as part of your high bid.

silver with free shippingIn other words, if shipping cost were 1 dollar, your maximum bid would be spot price plus 2 dollars minus 1 dollar to account for shipping. Do not deviate from this magic number.

One final bit of advice is make sure 1 troy ounce of .999 fine silver is stamped on the round. If you are confident you have diligently read the description, carefully taking note of the photo and the weight, place your bid. Now click out of this auction and move down the list to the next possibility and do it all again. I will do this on three different auctions at the very least.

The most bids I have placed in one day is eight. Most of the time you will be outbid by inexperienced ebayers or by someone who is buying the round for reasons of collectibility. Hypothetically, if you were to win all the auctions to which you've bid, you would still be getting your silver at 2 dollars over spot per ounce.

Millions of avid computer users and collectors are familiar with the eBay system, but if you're not registered yet, you can register here for free. Otherwise check out the silver that is currently listed.

Call it a scheme, or a plan, or a method to my madness, but it works fine for me, and it can work well for you when it's done properly. Next I'll show you some of the 1 oz rounds I have purchased in the past.

See Also: Buying Silver Online | Silver Investing FAQ | Silver Investing 101 | Silver Showcase | Retiring with Silver | Silver in a 401K Retirement Plan | Coins, Rounds, or Bars | Get Rich with Silver | One Oz Silver Rounds | Where to Buy Silver Safely | Physical Silver VS Paper Investments

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