#6448748 - 04/27/12 06:19 AM
Re: Price of silver
[Re: GeauxLSU]
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Campfire Guide
Registered: 07/23/08
Posts: 3705
Loc: MD
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Oddly enough, some of the larger bars are worth LESS than smaller amounts, simply because they're harder to move.
I doubt that bar is anything special, worth spot plus whatever APMEX is charging over spot right now.
One problem with the larger bars that causes them to be harder to move, besides price, is the fact that people are skeptical of them as they are easier to fake and harder to assay.
FWIW, still worth well over $3,000 at today's prices, but I wouldn't expect it to sell for much over spot. It's not an American Eagle or an Engelhard.
Me, I feel most of that "over spot" stuff is just nonsense. I like American Eagles, but why buy at $2-3 premium over an ounce of silver when, in the end, they are all just ounces of silver. They're worth what they're worth.
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#6448795 - 04/27/12 06:33 AM
Re: Price of silver
[Re: GeauxLSU]
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Campfire Oracle
Registered: 11/04/05
Posts: 28734
Loc: Four States
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So how do you get the purity graded and what would be an estimate of costs for such?
After retirement my father got bored and ran a photo lab. He kept the silver from the processing checmicals before they were disposed of. He ran it through his lead smelter I believe and I have the bar. I'm guessing it's 20-30 ounces. I know it was a long laborous process for him so I'm not interested in selling it. Actually would like to get something made out of it as keepsakes for me and my siblings.) Strange as it may seem, most dealers go by stamps on the silver itself. "90% pure silver", etc. Most of them have dealt in pm's long enough to know who made what too, so they know if something looks "off". To those who aren't well-versed, the myriad of silver bars, rounds, privately minted coins, etc. look staggering. In reality, there are only so many legit places manufacturing/minting them at any given time. In times when silver is down, bulk silver like this many times isn't as desirable as common silver coins. Seems harder to move. There are some beautiful bars and rounds out there. US silver Eagles almost always bring a premium when in reality they aren't anything but a silver round manufactured by the government as opposed to a private mint.
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#6448810 - 04/27/12 06:41 AM
Re: Price of silver
[Re: burner]
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Campfire Oracle
Registered: 11/04/05
Posts: 28734
Loc: Four States
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Oddly enough, some of the larger bars are worth LESS than smaller amounts, simply because they're harder to move.
I doubt that bar is anything special, worth spot plus whatever APMEX is charging over spot right now.
One problem with the larger bars that causes them to be harder to move, besides price, is the fact that people are skeptical of them as they are easier to fake and harder to assay.
FWIW, still worth well over $3,000 at today's prices, but I wouldn't expect it to sell for much over spot. It's not an American Eagle or an Engelhard.
Me, I feel most of that "over spot" stuff is just nonsense. I like American Eagles, but why buy at $2-3 premium over an ounce of silver when, in the end, they are all just ounces of silver. They're worth what they're worth.
I didn't see your post before I made my last. American Eagles are just like anything else, the market reaches its own level. Silver Eagles typically bring that much over SPOT even when silver is very low, making them almost a bargain with silver as high as it is and them no more over SPOT than that. When silver was bottoming out you could sometimes buy them for SPOT, but not often. I'm talking $4 silver here too.
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