1 oz. Silver Citibank Bar

Hey guys, I just picked up this bar yesterday. I bought it because I liked the look of it and knew it was an older bar. I paid $27.95 and was excited to just buy an ounce of silver for under $28.00. I got it home and thought I would try to find out some information on it. I was surprised to see what they are asking for these on eBay! One sold in March for around $460.00.

I can't really find much information about it and wanted to know if any of you know anything about these?

 

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That's really neat, you don't see many of those around! First one I've seen at least. Where did you buy it? Guessing a coin shop?

 

Cool bar, but $460 for an once of Silver ! some kind of premium...LOL

 

Nice condition JT.

 

Why would anyone pay anything over spot? Has the planet run out of silver?then again i have several i be happy to part with if the price is rite.

 

Back in the day companies would give out rewards as such as well hold contest for trips as such . The images below came from Emmi Swiss company contest. Rapa Scrapple a name only known on the Delmarva here would take us out their boat on the Delaware bay for Sea Trout fishing.
Over the years little treats as such and comps were really appreciated. However tthe higher ups believed that it wasn't good for us to accept such...so gifts as such were no longer given.
An oz bar of silver was under $5 gold was still cheap so a 5 gram credit Suisse was a nice reward but still affordable for the company write off.
No more fishing trips, but a great story of an executive who was taken to Europe for a foot ball game.
I have to laugh a pocket knife gimmie is taboo...but an all expenses paid trip to Europe well thats the grand prize...lol

 

This recent purchase was made by its advertising host and a neat little tool back in the day. Its a small paper weight. Picture an factory dock with open bays ,the recierers paperwork blowing about....this small weighted brass button was a huge problem solver.Plus it puts your name out there...to everyone who on the reciving dock.
Or maybe it layed on a desk in the office as in the 1920 AC offices weren't a thing, over head fans were used to cool.

 

Thanks, I found it at my local coin shop, who is also one of the biggest bullion dealers here.

 

For those who can't understand why anyone would pay that much for a 1 oz silver bullion bar, remember, there are a lot of people willing to pay big bucks for 0.77 oz of .900 fine silver in the form of a Morgan Dollar. It's just a matter of perspective. Some people collect coins others, rare bullion, while some collect sports cards and those are printed on cardboard.

Thank you @Paddy54, I figured it was probably a giveaway of some sort. Probably for opening a new account and depositing a minimum amount.

I did end up finding it listed on allengelhard.com. It looks like it was produced by Johnson Matthey. It was an early variety made for Citibank and less than 100 were made. The later examples were struck with the Citibank logo on the back and Johnson Matthey on the front.

I think it's pretty neat and will most likely keep it for my collection.

 

And this is why people pay for items that to most have little or no value.
However Google is your friend.....and searching items as such leads to some great finds. Notice the number on the Credit Suisse very low number .

These types of gifts given away at trade shows. Pen, hats, knives, tape measures, and the list goes on and on.
I have a Yeti travel coffee mug with a cheese company name on it. Nice gift as its like a $60 cup.

 

Nice old bar you got a excellent deal,that's a really low number also.

 

Citibank cancelled by credit card back in the 80,s...LOL

 

Interesting I thought they made a ton of those.
High serial number would suggest.

 

Great buy for you, lucky buy of the year!

 

Wonder what's up?
There was a time...

 

Must have an extremely low mintage, that would be my guess. Serial numbers look high but looks can be deceiving.

 

So IF someone had the lower mintage 1 of 50 Citibank bar, should be worth 2x the larger mintage 1 of 100 ones?

Asking for a friend

 

Another example of iitems given as a reward or brand loyalty

 

That was my thought as well. If the two example serial numbers are in the 103xxx and my example is 106000, that would suggest a lot more struck. Maybe the <100 is an estimate of what is remaining? Not sure. I may contact someone on the site.

 

I saw that in my searching as well. I wish they listed that last sold price. It's possible it was sent to them to purchase and then they sold it for a much higher price.