I am going to a local auction today. The ad in the newspaper says they are selling 4 ten ounce silver bars from South East refining. A web search turned up only two sites. One is an eBay auction for ten one ounce silver bars. The second site is selling ten ounce silver bars by South East refining at $150 each. South East Refining was or is in Florida. The bars were made about 1980 or 1981. They are .999 pure. So I am asking if anyone knows anything about this company and is a ten ounce bar by South East really worth $150?
spot is $11.62, so the bar has 116.20 of silver... seems like a pretty big premium over melt. do you just want to purchase silver? if so you can get 10 ounces cheaper then that....
Well I went to the auction and bid up to $100 each (4 bars). Someone else bid $105 and I did not go $110. They have a 10% buyer's fee they add on and they also charge sales tax. So the guy who bid $105 actually paid over $122 each. The bars were not in very good shape either. So I took my money to a Rhode Island jewelry/coin store and came home with a 1925 and a 1925D two and a half dollar Indian gold coins for $325/pair. I think I will be happier with them than silver bars.
