Precious Metals Price Discovery

By: David Morgan | Sat, Nov 22, 2008
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During my recent trip to Europe, there were many interesting meetings and conversations. One of the most meaningful was with a good friend and colleague Mr. Eric Lemaire (http://www.24hgold.com/default.aspx).

Eric is a true free-market thinker and has worked at producing true price discovery in the gold and silver markets. Eric suggested that, because eBay was already in existence and is a worldwide system, real price discovery could be obtained.

Staying reserved as I pondered this insight, it did make sense that this certainly is a way to establish what silver and gold are really selling for in the retail sector.

As Eric explained, he thought one of the few worldwide, public pricing systems is eBay, so he had been working on the subject for quite awhile to find a way to extract the price of gold and silver out of eBay.

Eric recently launched the following Web pages:

Gold on eBay, worldwide:

http://www.24hgold.com/english/buy_sell_gold_coins.aspx?co_id=0

And silver on eBay, worldwide:

http://www.24hgold.com/english/buy_sell_silver_coins.aspx?co_id=0

Here is how they work. Gold and silver coins with offers on eBay appear on the page, listed by country. For each coin, you will find:

There is also a link to go to eBay directly if you are looking for something else.

Since eBay is different for each country, we have eBay pages for Canada, the United States, Australia, France, and the United Kingdom.

Eric stated it is his wish that this tool will be useful to anyone who is interested in gold and silver and that it will help people get more physical metal in their hands, which is the key to wrecking the cartel.

Eric Lemaire can be contacted at editor@24hgold.com

I did not have time to get into the actual computer programming that was required for this project, but let me publicly state it must have been a heck of a project. Further, several new Web-based auctions are taking place for the precious metals -- in particular, silver. My current schedule does not allow me to review them all in this week's missive, but I do want to bring to the readers' attention that many new and seasoned precious metals investors are amazed by the spreads that are currently being determined in the marketplace.

Additionally, many investors are moving to the exchange itself to take delivery of industrial-size bars, to obtain silver and gold very close to the quoted New York price and/or London fix.

It is an honor to be,

 


 

David Morgan

Author: David Morgan

David Morgan
Silver-Investor.com

David Morgan

David Morgan (Silver-Investor.com) is a widely recognized analyst in the precious metals industry; he consults for hedge funds, high net-worth investors, mining companies, depositories and bullion dealers. He is the publisher of The Morgan Report on precious metals, the author of Get the Skinny on Silver Investing, and a featured speaker at investment conferences in North America, Europe and Asia. You can receive a free 30 day trial subscription here http://www.silver-investor.com/joinfreelist.html

Mr. Morgan has been published in The Herald Tribune, Futures magazine, The Gold Newsletter, Resource Consultants, Resource World, Investment Rarities, The Idaho Observer, Barron's, and The Wall Street Journal. Mr. Morgan does weekly Money, Metals and Mining Review for Kitco. He is hosted monthly on Financial Sense with Jim Puplava. Mr. Morgan was published in the Global Investor regarding Ten Rules of Silver Investing, which you can receive for free. His book Get the Skinny on Silver Investing is available on Amazon or the link provided.

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