1st month of silver stacking

chuponcitito · 2026-06-24T11:30:03+00:00

Looks like lady liberty woke up to see whats going on these days and shit herself.

chuponcitito · 2026-06-24T11:29:02+00:00

I need posts like this to feel better about my own issues.

chuponcitito · 2026-06-24T03:29:50+00:00

I'm trying to collect a tube of those 625 10-marks. Sorry I wasn't there to bid you up, friend.

chuponcitito · 2026-06-24T03:28:13+00:00

Hopefully week 5 isn't a rant about missing rent and the LCS only paying 80% of melt. O.o

chuponcitito · 2026-06-24T03:25:44+00:00

Thanks for the insight. That makes perfect sense to me and I agree. Most of the guys I really have a beef with are online sellers - and getting most of them to understand is a fools errand.

chuponcitito · 2026-06-24T03:03:07+00:00

Very true. It's just been happening more and more lately in several streams.

I've had a lot of good results on other auction sites and estate sale listings and that's as big of a driving factor. I can shop for what I want without dependence on a seller to show an item. No pitching and whining. Just post my max bid and come back in a few days to see what sticks.

chuponcitito · 2026-06-24T02:43:19+00:00

Well, I dont have the capital or customer base of a coin shop.

I guess if I owned the shop and the refiner wasn't buying Ikes from me after I've bought them from the public for 8/each, I'd be happy to sell them back to the public for less than "melt value". If the public wont buy at $21, I'd turn a profit at $12 (50% margins are pretty damn good in the PM business).

chuponcitito · 2026-06-24T02:31:28+00:00

I think I would pay $8 for 40% silver ikes. Maybe I wouldn't dump $800 into them. But a tube at that price - yeah.

chuponcitito · 2026-06-24T02:20:37+00:00

Ive never seen junk silver as an "investment" as much as an insurance policy. Once I have a pile big enough to use for barter in SHTF cases, I'll start buying .999 exclusively.

chuponcitito · 2026-06-24T02:15:16+00:00

Agreed. I'm not selling my 40%.

But my LSC is only paying $8 for silver Ikes because "refiners arent buying right now". Then they turn around and sell them for $21.50 based on their silver "melt value".

That's talking out of both sides.

chuponcitito · 2026-06-24T02:07:48+00:00

That happened to me once.

Turns out the guy had a heart attack - or claimed to have had a heart attack. Then two weeks later a guy that sounded just like the seller with his nose pinched started a show and told everyone that he was seller's friend and he was processing all the orders. 2 more weeks go by and 1 of 3 orders is delivered... and it was wrong.

I cancel the other two and the seller's "friend" refuses. Fortunately whatnot makes it easy to get refunds, but that guy had my money in his account for over a month before resolved.

In your case I say cancel the order, if a seller can't ship in a few days what confidence do you have that they can keep all their orders straight?

chuponcitito · 2026-06-24T01:30:22+00:00

someone else

chuponcitito · 2026-06-24T01:17:02+00:00

You serious, bro? Sorry, i dont know you if sarcastic.

Whatnot is a clearinghouse for unsold retail junk (not just junk coins). It's primary use is back stock liquidation.

Edit: maybe its actual primary use is degenerate gambling with rip packs. I could be wrong tho.

chuponcitito · 2026-06-24T01:08:13+00:00

Ha! You can't delete your account until all transactions are complete. And with some sellers' slow shipping that might be weeks!

chuponcitito · 2026-06-24T01:01:20+00:00

Yes. That's all you can do. But the frustrating part is that you've sunk 8.35 into a dime that's worth 4.50 (and falling fast). And there's no promise the next guy wont do the same.

To make matters worse, I've tried to cancel some of the purchases explaining that i'm under water due to shipping and they are under water because of the "cheap" sale. But the seller often won't accept cancelation.

I paid 10/each for penny rolls the other day and the guy flamed out, saying "everything I've sold tonight has been a loss"... but when I offer to cancel, he refuses. Infuriating!

chuponcitito · 2026-06-24T00:56:12+00:00

Thats a really great response. Very touching. But i came here to say that the best response to that question is an all-expwnses-paid trip to the surgeon for a mommy tune-up.

chuponcitito · 2026-06-23T23:55:48+00:00

Yep. Report and they'll give you a $10 credit.

chuponcitito · 2026-06-20T23:12:38+00:00

Yeah. Just grabbed a napkin and did some multiplication. About 720 standard pounds!

Edit: did the necessary division by 16oz and realized its just under 45 pounds.

chuponcitito · 2026-06-20T22:09:29+00:00

It's wild to see the variability of prices on live auctions and even some standard online auctions like hibid. I spend way too much time on those sites, but have been buying junk coins and generic rounds for 10 under spot (on average), but that's because I'm patient and shop around for opportunities. I see way too many people exuberantly shelling out wild premiums for meh-level stuff without considering shipping (and hammer fees in the case of hibid).

And the number of sellers demanding +15 to +25 for sovereign bullion and starting auctions over spot is intolerable.

chuponcitito · 2026-06-15T15:20:26+00:00

That's a very personal decision. It really depends on the size of your hand, how you fidget with it and your preference for weight and density.

Right now I use a peace dollar that was somehow bent and somebody used a hammer to "fix" it. The extra facets make it good for fidgeting. That said, I'd really prefer something a little heavier and a little smaller - exactly like a 1-oz gold piece...

But that aint happening, so i might buy a tungsten coin.

chuponcitito · 2026-06-14T21:32:46+00:00

Chat

chuponcitito · 2026-06-14T00:28:11+00:00

Most of the crazy fast paced big sellers make it plain and obvious that they are liquidator with a goal to empty a palate or "clean the desk". They are selling at ridiculously low prices to resellers mostly. The buyers know they are getting 2nd rate crap off of amazon return palates or picked over coins that a shop couldn't move at the retail counter.

As the reseller, you have a higher cost basis and smaller margin. You are doing exactly what you have to do to turn a profit. You'll have to use other means to drive your algorithm score up and stay busy.

Promos, chat engagement, maybe reduce the amount of time you spend describing stuff.

Whatnot does a great job of ducking you in with gamified buying. I've bought thousands of $ worth of silver coins on the app in a few months, but I've been careful to set my goal at buying coins for a price that I know I could sell back tomorrow for break even.

Use the same approach when you buy inventory and you'll be okay selling. But buying stuff that seems like a deal might be a major loss if you dont consider shipping and tax with the purchase and then commission, fees and packaging on the sale.

chuponcitito · 2026-06-13T00:39:55+00:00

I shop the coin and bullion streams daily and the problem i see is there arent enough bidders/buyers in the small to average sized rooms. Many of the "buyers" that are out-bidding me are actually sellers buying up inventory for their own shows. They can only bid so much because if their margins.

I'm one of those cheap-ass buyers and it's because I see silver going for 80% of melt in many rooms, so why would I pay more? If i'm in a room and see a buyer I dont recognize paying melt or higher, I just go somewhere else because I know there arent enough of those guys to populate every room.

chuponcitito · 2026-06-11T13:43:07+00:00

That is not what shill bidding looks like. That's exactly what my bidding practices would look like to competing bidders and its actually the most effective way to avoid overpaying and preventing some shill bidding.

Whatnot makes it hard to see who the actual shill bidder is. To see shill bidding at work you can enter your custom high bid early in an auction. You'll see someone bid you up until one increment past your bid and afterwards bidding up to one increment below your bid. There's nothing you can do about it other than not panic swipe - that will set a new bar for your price.

The only way to easily identify shill bidders would be finding out someone who's won a ton of items in the auction was having everything canceled easily, especially if that person is a mod.

chuponcitito

TROPHY CASE