How many ounce of silver would you buy at $20 per?

I have the option to get up to 225 ounces of .999 in 25 ounce random bars for $20 per ounce. I get my bonus from work the first week of January so I would have to put it on credit for 6 weeks or so. With that though I get a 2% reward so actual price delivered will be around $19.50 per. My question is there anyone on here that wouldn't snap buy on all of them?


Thanks for the help

 

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I've been buying slowly, not all at once like that. Seems like silver is still possibly going down...so I dunno if I would but I"m really new to this too.

 

5 ounces

 

if i could afford that i'd probly grab it

 

Who makes 25 ounce bars...?

 

Sounds too good to be true. Not calling You a liar.....just saying it`s a little fishy.

 

Engelhard and CMI used to make loaf style bars that were 25 ounces. I know some other obscure companies used to make them as well. Not sure about new issues though.

 

what size are the bars? Is it two 100oz bars, two 10oz and 5 singles? If silver goes way up in value, it might be hard to move a 100oz bar.... just my opinion.

 

Sounds like he would be getting nine 25 oz bars.

As long as you are willing to sell to a dealer I don't see there ever being a problem with moving a 100 oz bar.

Right now Provident Metal's buy price on a 100 oz bar is only 20 cents under spot per oz, so its not like you will take a huge cut selling to a dealer as opposed to a private sale.

 

The silver is coming from a good contact that I have done business with many times before. His problem is he is antsy and must have read a negative article and now wants to sell all his silver. The bars in question are CMI, Hoover Strong, and Star Metals bars and one 50 oz engelhard ox logo bar, for a total of 7 (25s) and 1 (50) for 225 ounces total. The 50 ox is a nice bar that goes for a premium but he will only sell it if I take all the silver. This would increase my stack by about 5% which I like, just not sure silver has hit a bottom yet.

I have decided to be reasonable for now and only take 2 of the generic 25s for $1000 delivered. I will post pictures this week when I get them to see what you guys think. Thanks for the help

 

Why not flip the rest here and give the other members some good deals and still make money? It's like getting a bigger discount on the 50oz you're buying. I'd be willing to lock in the price for a bit of it. Maybe even the entire 175ozs left, depending on what you want for it.

That way, you don't have to take on the risk of silver making a big drop.

 

I think I would buy a couple and then if it goes down, renegotiate. You will have a couple of 25 oz. bars and can think about the others. I like the idea of the Engelhard 50 ounce. I think I would buy that if I was only buying 50 oz.

 

It will be a pretty personal decision since all of us have different amounts of silver already, different outlooks, etc. If I were a young man and had no silver but other assets? It might be attractive. This would be assuming you didn't have an immediate need for the cash, had no credit card debts, owned a home, had other investments, etc.

Myself? $20 is not a bad price, but I prefer to "double dip" and buy coins with my PM money. I simply like owning coins and not bars of silver, but that is my opinion only. Personally, I have been switching over to gold more, but that is more due to me running out of room in my SDB.

 

Here are the 2 25's I recently posted about

 

MPM sells most of their products for $1 over, so I wouldn't rush in to buy anything in the .50-1 premium range. Check out some pawn shops, that is my new hobby, I normally get maples, eagles, Kooks for spot and 90% coins for a little under spot. Buying at spot just feels better for some reason, and knowing most of these have $4-6 premiums on coins shops makes me wonder why I ever went to coin shops for bullion.

My thinking on large bars is, in 10-20 years, let just be hopeful and say silver is at 100 or 200/oz. Who is going to pay $5000 for a 25 ounce bar, and then you may have to start dealing SARs if selling to brokers/dealers. It will be much easier to sell 1 oz rounds and stay off any paper trials. I prefer to pay a little more for 100 1oz rounds, than get a 100oz bar at spot.

 

Damn! "This will increase my stack by about 5%" How many Oz's of silver do you have? If you don't mind me asking?

 

^^He already told you.

 

Huh?

 

Simple math.

 

Sounds like you made the right decision. I always think of silver as being a good deal under $20 but it could always drop to $15 tomorrow.