100 Ounce Bar At Spot

you never know when the original owner of the bar bought it. . could have been at $30/oz

But unless you to review the markings and research it, it may have been when ppl were selling everything so it could be sterling silver right? or some other silver alloy. Ppl were selling jewelry, watches, silverware, plateware, etc when silver was high. I had ppl I knew selling anything and everything silver that they had. Crazy.

So a generic silver bar would have me double guessing what it actually is without confirming each and every identity mark on it. Then I'd still pass and get gov't issue silver.

 

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I did use my better judgment and walked away from the deal. I'll stick to what I know. I really wouldn't know what to do with a 100 Oz. bar other than an expensive paperweight.

 

Melt it down and turn it into one oz rounds.

 

If ya'll remember that episode of Pawn Stars, Rick Harrison paid under spot.
He told the kid "You've got to leave some Meat on the Bone for me."
That kid brought in a flat bed cart full of silver of various sizes. One was the huge bar. Harrison did drill at least 1 hole in it...and he saved the drill tailings.The kid's dad had advised him to start buying silver as a youngster, and he did, so the kid actually paid under the current spot(at that time of the show) when he bought it.
Rick paid out over $100,000.00 to the kid.
The kid left happy.

Sounds like a good value. I'd buy it if I could afford that much at one time.

But what to do with it?? Therein lies the question !!

Have a few molds made, then melt and pour into smaller sizes.

How about an RA bar or round?

Who'd buy one to help out a friend?

At a slight? premium over spot.

lol

 

The question is why would you accept that, you could go any ware and
Get spot, that,s kind of the point..

 

Is this it ?

 

Wow..... Englehard is the name on the bar that fellow was wanting to sell me.

 

https://www.cointalk.com/threads/what-do-engelhard-bars-sell-for.331234/#post-3317007

@mpcusa

 

Have to be careful buying gold coins at a jewelers. (Unless it is just bullion.)
Because if a jeweler has it the chance is it was jewelry at one point and has been harshly cleaned.

 

I'm not really understanding this all so much. Unless I'm wrong with the #'s here ... 100 oz. silver @ spot should be around $1,550. Now 1 oz. gold coins are going for that more and less. The way it sounds to me, the way you all are talking makes this some really big deal; like buying a house. Am I missing the game-plan here?

TIA for the education. ​

 

I'm not so sure you could. As others have said, the dealer has to make something, and they can't sell them for much above spot. Sell on eBay, and you get a 13% haircut from PayPal and FVF, even before shipping and insurance.

I think most pawnshops around here offer half of spot, maybe 2/3, and I'm not sure jewelers would offer much more. Yes, they could profit selling at spot.

 

That's the one !!

 

No, it's not the cash outlay at all for me. My first love is old coins. PM's just sort of fell in behind my love of old coins somewhere along the way. However the PM's are not for me. They are for my kids/grandkids down the road. But while I own them, I would like to be able to enjoy them. Hence my preference for numismatic rounds.

 

This was the eagle. It passed muster for me. And at $640.00 I was actually quite happy.

 

Well if you look at this way, when you by PM,S you pay a premium, well
Over spot, so when you sell you get hit again, seems like everybody else is
making money but you..LOL

 

As a hopefully-not-former member would have said, "Ding! Ding! Ding!"

 

So where,s my love ? i think it needs to be win,win,win here

 

I don't know where you buy and sell silver at, but I have never sold silver and got spot, and I have never bought silver for spot, except when I shop very carefully on eBay and manage to get a "deal".

Whether it's buying or selling, the buyer/seller always says " I gotta make a profit. "

I've sold silver at Gold and Silver buyers, coin shops, and pawn shops.
No one I'm aware of ever pays spot, and every seller wants a profit over spot.

That's just my experience, 'course I don't have any special contacts either.

 

So, here's what to do, buy it, drill a hole at the top to establish it is authentic and then wear it as a necklace...

 

and learn to Rap !