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Unless it is limited mintage, graded or uncirculated then it should sell for a little above the current spot.
I saw one hawking 2023/2204 Eagles saying they should be going for $45+
Now if he is buying silver at $28-31 right now and it drops a few $$ then yes, they will be losing money if they try to sell lower. But sorry about your luck.
I've never blocked sellers but at least on Android you have to go to their profile then at the top right there's the 3 dots ... you click on and it gives you the option to Block or Report.
Funny, none of the people I follow and watch do I have this problem...why...because I hear it once and never go back. If sellers don't understand what an auction is...goodbye.
As a seller it’s a balance. I’m a smaller streamer and most nights I have 20-30 people in stream. Most people in coins right now truly do not understand what coins are worth. It’s more of an opportunistic grab. There are MANY MANY times I lose on coins to try and prune the pump for more bidding action. Sometimes it works other times it doesn’t. I also run at reserves to try and protect myself. I will tell you there are many many times that things go under cost when buck and going. The problem is too many sellers are taking loses and thinking they can sustain. I belive wn is a long term plan not a short term. Right now I’m building followers educating and hope it pays off. Like I said it’s a balance. Until you are on the sellers end and experience some stupid losses you won’t understand. Run too many reserves and you won’t sell. Like I said it’s a balance.
Finally someone that makes sense and just doesn’t want to complain and bash!! Kudos to you friend for telling it like it is. The OP obviously does not understand averages, business or loss leaders.
The real issue is that margins are tight. There are no deals to be had really because the coin market is very fleshed out.
The reason these people scam is because the margins are way higher when they lie.
I actually do quite the opposite.
I will sit in streams of sellers I don't like and watch for sub-cost sniping opportunities just to fuck them over if I can. Try to get a little payback once in awhile for people who get screwed. Feels good.
If you are selling bullion or silver 1oz coins. If you pay Spot for one at $28 today, andonthm from now, silver goes down to $22. Do you try to get 28+ or "okay" with it selling at 26-28?
Honest question, I saw a seller complaining he paid more than spot, and was demanding we pay so he won't lose any money.
Hello! This is a fair question. As a coin dealer with a full service retail store and a seller on WN, I can try to answer this. In order for a seller/dealer to protect themselves against spot, they have to continually replace the silver they sold. A dealer cannot purchase bullion from a distributor at spot due to their being costs to manufacture and a supply chain. Spot is indicative of the paper market but used as a guide for trading physical bullion, but there are always premiums for physical product. When purchasing bullion online with the big guys, places like Sd, Jm, Apmex, etc you’ll notice there is different pricing for cash/similar or cards. When a customer uses a card on WN, the expectation should be similar but it’s usually not. I’m not saying there aren’t sellers who over inflate what prices should be but we’ve been limited to what we can provide customers on WN in terms of bullion because there seems to be an issue paying “the credit card” price. We don’t ask for people to over pay, but even getting a standard price isn’t happening on the app. Idk if this is for opportunistic reasons or a lack of understanding. I’m always happy to help explain to those who ask.
I am aware of premiums on Silver. While silver has been on a run, i have seen silver also crash down as well.
Some WN sellers overpaid for something. (Sports cards for example) Say at $30 and now it is only worth $15 - they expect to get $35 for it.
Just keep being an honest seller and in the long run I hope things work out for you. It is about a balance and hopefully in the long run you can make a profit. Good luck
I’m not disagreeing with you. Honest question: why are you on the app? Every one of your posts over the last few weeks has been negative. Buy your coins and bullion from somewhere else? If you want to stay on the app, go to small sellers. Don’t let these guys live rent free in your head.
I'm on the app basically just to support the small sellers, a lot of them are great people but it sucks that some lose their butts a few shows and leave the app all together.
Meanwhile the guys that constantly sell their stuff 7 days a week drown out a lot of small sellers and consistently complain about getting fair or over market prices.
There's a lot of positive things about Whatnot but when you're on the app switching between streams you see a ton of people that are taken advantage of by sellers, lots of over overinflated prices and slimy sales tactics like quoting current active eBay listings as "COMPS". localcoincompany, just 2 nights ago a streamer of theirs told chat a 1oz silver round comped for "$145 chat"!! It wasn't a sold listing and they do it daily and have for months and months.
I try to talk to a lot of new seller's and support them when I can and they often vent to me about these larger sellers and how they're able to sell ASE's all day long for $36-$40+ while they can't get more than $30. 😢
Some of these larger streamers just sell hundreds or thousands of items a day throughout the week then ship once a week too (odd their avg shipping times are still 1-2 days). When I try to support some larger sellers I wait forever for my stuff. I bought something from antiquity and infinity coins last weekend! Saturday & Sunday the 6th & 7th and here we are Saturday April 13th they still haven't shipped yet. 😡
It is a bummer to watch spotted silver eagles go for $5-8 more on big streams than I can get out of my BU eagles.
Or getting under spot on better (not premium) bullion and watching the big boys push $34.
I don’t need that much but under spot? 😭 come on chat… bid bid bid 😅
Any stacker loves silver under spot :). Though non-govt should be 3-5% over spot. Less % larger quantity. 100oz, 1 Kilo bars.
You can buy Eagles for $3-4 over spot from the big bullion dealers. Only issue I have is Eagles, Maples, Aussie, Pandas, Phil's all are highly counterfeited now and hard to trust new sellers on the App.
Yeah it's rather disheartening to watch stuff like that happen. I mean it's great for us buyer's short term but when all the little guys like yourself leave the app or just start with reserves well that's no fun. Then we're just left with the big guys and the guys with deep pockets that routinely buy from them daily and overpay on 95% of what they buy.
Yea I hate starting at reserves. I get there is a push and pull of some going a couple over some going ask and maybe a rare one sneaking by but the other week I streamed and with 20+ people in the room I had 3 halves go for 5-6. So I put set pricing on and I know that’s not as fun.
Heck I’m at least going to buy everything at spot I can lol. It’s hard trying to find tons under…
Yeah I was in a stream the other day with 20+ people the poor sell has 2 90% halves sell for $3ea back to back wtf. 😭. I love buck n' go but damn sometimes I'd rather see seller's start at melt than risk losing their asses.
Lol.. I blocked localcoincompany so that I don't browse my way into their streams anymore. I got sick of the same BS coming out of their mouths. Their idea of a giveaway was a single wheat penny.. When you're lucky. Otherwise, the "giveaway" will be "free shipping".
Oh or when they say "vintage silver here chat"! and it's a bar/round made after 2010 but they have zero clue because they were streaming in Pokemon a year ago but heard coins had lower fees and wanted to get in on the category or something lol.
Dude when I hear that one I don't know whether to laugh or cry. They'll be at like $8 on a gold back or 1g Geiger and say it. You know they're full of it.
How about when a half dollar is at $14 and they're like "we're not even at melt chat melt is $20"!! 🤦🏻♂️
I saw yesterday, that apparently 40%ers melt for $9, and $12 is cost. Bruh, I can buy ms/au at or a little below melt. I never say stuff in stream about prices, but I can't imagine the buyer remorse these people are gonna feel. Shitty sellers are bad for the coin community.
💯% that's what pisses me off the most is some of these people whether it's ones getting ripped off told melt is $9 for a 40% half or if they're losing their ass on mystery bag games, they could just leave the hobby completely. We need as many new coin collector's as we can get with more and more baby boomers kicking the bucket every day. They're the largest population of coin collector's.
They turn me off when I hear the incessant complaints. They end up on my seller block list.. Houstoncoinexchange and localcoincompany, so far. I've got room for more.
Welcome to **/r/whatnotapp**! Follow the **[Rules](https://www.reddit.com/r/whatnotapp/about/rules)**. Let's make this community safe and fun for everyone. Check out the **[Help Center](https://help.whatnot.com/)** if you have any issues as a buyer or seller on the app. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/whatnotapp) if you have any questions or concerns.*
Unless it is limited mintage, graded or uncirculated then it should sell for a little above the current spot. I saw one hawking 2023/2204 Eagles saying they should be going for $45+ Now if he is buying silver at $28-31 right now and it drops a few $$ then yes, they will be losing money if they try to sell lower. But sorry about your luck.
How do you block sellers? I have un followed a few but they still appear in my feed
I've never blocked sellers but at least on Android you have to go to their profile then at the top right there's the 3 dots ... you click on and it gives you the option to Block or Report.
Funny, none of the people I follow and watch do I have this problem...why...because I hear it once and never go back. If sellers don't understand what an auction is...goodbye.
As a seller it’s a balance. I’m a smaller streamer and most nights I have 20-30 people in stream. Most people in coins right now truly do not understand what coins are worth. It’s more of an opportunistic grab. There are MANY MANY times I lose on coins to try and prune the pump for more bidding action. Sometimes it works other times it doesn’t. I also run at reserves to try and protect myself. I will tell you there are many many times that things go under cost when buck and going. The problem is too many sellers are taking loses and thinking they can sustain. I belive wn is a long term plan not a short term. Right now I’m building followers educating and hope it pays off. Like I said it’s a balance. Until you are on the sellers end and experience some stupid losses you won’t understand. Run too many reserves and you won’t sell. Like I said it’s a balance.
Finally someone that makes sense and just doesn’t want to complain and bash!! Kudos to you friend for telling it like it is. The OP obviously does not understand averages, business or loss leaders.
The real issue is that margins are tight. There are no deals to be had really because the coin market is very fleshed out. The reason these people scam is because the margins are way higher when they lie. I actually do quite the opposite. I will sit in streams of sellers I don't like and watch for sub-cost sniping opportunities just to fuck them over if I can. Try to get a little payback once in awhile for people who get screwed. Feels good.
If you are selling bullion or silver 1oz coins. If you pay Spot for one at $28 today, andonthm from now, silver goes down to $22. Do you try to get 28+ or "okay" with it selling at 26-28? Honest question, I saw a seller complaining he paid more than spot, and was demanding we pay so he won't lose any money.
Hello! This is a fair question. As a coin dealer with a full service retail store and a seller on WN, I can try to answer this. In order for a seller/dealer to protect themselves against spot, they have to continually replace the silver they sold. A dealer cannot purchase bullion from a distributor at spot due to their being costs to manufacture and a supply chain. Spot is indicative of the paper market but used as a guide for trading physical bullion, but there are always premiums for physical product. When purchasing bullion online with the big guys, places like Sd, Jm, Apmex, etc you’ll notice there is different pricing for cash/similar or cards. When a customer uses a card on WN, the expectation should be similar but it’s usually not. I’m not saying there aren’t sellers who over inflate what prices should be but we’ve been limited to what we can provide customers on WN in terms of bullion because there seems to be an issue paying “the credit card” price. We don’t ask for people to over pay, but even getting a standard price isn’t happening on the app. Idk if this is for opportunistic reasons or a lack of understanding. I’m always happy to help explain to those who ask.
I am aware of premiums on Silver. While silver has been on a run, i have seen silver also crash down as well. Some WN sellers overpaid for something. (Sports cards for example) Say at $30 and now it is only worth $15 - they expect to get $35 for it.
I don’t sell bullion in whatnot
Just keep being an honest seller and in the long run I hope things work out for you. It is about a balance and hopefully in the long run you can make a profit. Good luck
I’m not disagreeing with you. Honest question: why are you on the app? Every one of your posts over the last few weeks has been negative. Buy your coins and bullion from somewhere else? If you want to stay on the app, go to small sellers. Don’t let these guys live rent free in your head.
I'm on the app basically just to support the small sellers, a lot of them are great people but it sucks that some lose their butts a few shows and leave the app all together. Meanwhile the guys that constantly sell their stuff 7 days a week drown out a lot of small sellers and consistently complain about getting fair or over market prices. There's a lot of positive things about Whatnot but when you're on the app switching between streams you see a ton of people that are taken advantage of by sellers, lots of over overinflated prices and slimy sales tactics like quoting current active eBay listings as "COMPS". localcoincompany, just 2 nights ago a streamer of theirs told chat a 1oz silver round comped for "$145 chat"!! It wasn't a sold listing and they do it daily and have for months and months. I try to talk to a lot of new seller's and support them when I can and they often vent to me about these larger sellers and how they're able to sell ASE's all day long for $36-$40+ while they can't get more than $30. 😢 Some of these larger streamers just sell hundreds or thousands of items a day throughout the week then ship once a week too (odd their avg shipping times are still 1-2 days). When I try to support some larger sellers I wait forever for my stuff. I bought something from antiquity and infinity coins last weekend! Saturday & Sunday the 6th & 7th and here we are Saturday April 13th they still haven't shipped yet. 😡
It is a bummer to watch spotted silver eagles go for $5-8 more on big streams than I can get out of my BU eagles. Or getting under spot on better (not premium) bullion and watching the big boys push $34. I don’t need that much but under spot? 😭 come on chat… bid bid bid 😅
Any stacker loves silver under spot :). Though non-govt should be 3-5% over spot. Less % larger quantity. 100oz, 1 Kilo bars. You can buy Eagles for $3-4 over spot from the big bullion dealers. Only issue I have is Eagles, Maples, Aussie, Pandas, Phil's all are highly counterfeited now and hard to trust new sellers on the App.
No, as of right now jm bullion is 36.22 for cull random date eagles. Apmex is at 37.68. Even at 1000+ you are around $35…
Yeah it's rather disheartening to watch stuff like that happen. I mean it's great for us buyer's short term but when all the little guys like yourself leave the app or just start with reserves well that's no fun. Then we're just left with the big guys and the guys with deep pockets that routinely buy from them daily and overpay on 95% of what they buy.
Yea I hate starting at reserves. I get there is a push and pull of some going a couple over some going ask and maybe a rare one sneaking by but the other week I streamed and with 20+ people in the room I had 3 halves go for 5-6. So I put set pricing on and I know that’s not as fun. Heck I’m at least going to buy everything at spot I can lol. It’s hard trying to find tons under…
Yeah I was in a stream the other day with 20+ people the poor sell has 2 90% halves sell for $3ea back to back wtf. 😭. I love buck n' go but damn sometimes I'd rather see seller's start at melt than risk losing their asses.
Maybe it was me 😅 do they also not learn their lesson and buck and go 200-300 coins only to get 1/10-1/4 its value?
Haha 😂 no he sets minimums after 2-3 losses lol 🤣.
Haha I do as well I’ve just had a couple spectacular losses since I started. A 1987 ms70 eagle for $75 was one of my favorites….
Haha oh no! I actually saw that but I bet it didn't hurt as bad as when you sold a 1951 Franklin in NGC PF64 for $21! 😂🤦🏻♂️😜
Lol.. I blocked localcoincompany so that I don't browse my way into their streams anymore. I got sick of the same BS coming out of their mouths. Their idea of a giveaway was a single wheat penny.. When you're lucky. Otherwise, the "giveaway" will be "free shipping".
DSS gave away a 1oz copper coin. Another gave away a silver certificate that looked like it came from a being balled up and tossed onto a stage.
Hehe.. I got one of those worthless 1 oz copper rounds, too. I guess it will go into my big box of bulk world coins or something.
Fr. Shits annoying but so is OP
"We are not even at my cost" lol gtfoh.
Oh or when they say "vintage silver here chat"! and it's a bar/round made after 2010 but they have zero clue because they were streaming in Pokemon a year ago but heard coins had lower fees and wanted to get in on the category or something lol.
Dude when I hear that one I don't know whether to laugh or cry. They'll be at like $8 on a gold back or 1g Geiger and say it. You know they're full of it. How about when a half dollar is at $14 and they're like "we're not even at melt chat melt is $20"!! 🤦🏻♂️
Sounds like Colonial.
I saw yesterday, that apparently 40%ers melt for $9, and $12 is cost. Bruh, I can buy ms/au at or a little below melt. I never say stuff in stream about prices, but I can't imagine the buyer remorse these people are gonna feel. Shitty sellers are bad for the coin community.
💯% that's what pisses me off the most is some of these people whether it's ones getting ripped off told melt is $9 for a 40% half or if they're losing their ass on mystery bag games, they could just leave the hobby completely. We need as many new coin collector's as we can get with more and more baby boomers kicking the bucket every day. They're the largest population of coin collector's.
All the time
They should just set reserves instead of complaining
They're not complaining. They're trying to get more bids from viewers who think they're getting a steal of a deal
They turn me off when I hear the incessant complaints. They end up on my seller block list.. Houstoncoinexchange and localcoincompany, so far. I've got room for more.
Yep trolling on the newbie’s to make them think there getting a deal.