buying bars. various makes/mints?

Discussion in 'Bullion Investing' started by sky, Aug 31, 2009.

  1. sky

    sky Member

    so i have decided to pick up some silver bars. that said, after looking at some product at a few sites, i am wondering if there should be a preference as to which mint/brand to buy? does it truly matter? that is, as long as i select a "known" brand will i be ok?

    sunshine? heraeus? silvertowne?

    is there one better than the other? is there one to avoid? would apmex be ok? just looking for some thoughts on the matter.

    thank you
     
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  3. TheNoost

    TheNoost huldufolk

    If you know what you are doing, some bars command a premium over others due to rarity. I personally do not know which ones, but there are others on thsi board that do. I stick to common names.
     
  4. ahearn

    ahearn Member

    Although I have bought, but never sold, my opinion is that the better known the brand, the easier to sell when the time comes. It would be helpful to hear from people who have sold bars. Does it make any difference as to brand?

    Otherwise, I buy bars that are attractive to me and prefer those that are factory-sealed. Silvertowne (1 oz and 10 oz) is my favorite.
     
  5. CrustyCoins

    CrustyCoins Twilight Photographer

    I think the most recognizable name is Johnson Matthey and APEX has them for .69 over spot which is not bad.

    Althought it looks to be 100 Oz bars only that are in stock. I'd like a whole safe full of these. :)
     
  6. WLhalves

    WLhalves Member

  7. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

  8. Victor

    Victor Coin Collector

    For run of the mill common bars I favor Englehard. Johnson Matthey would run a close second choice. For silver art bars the ones made in the 1970s are the collectibles. One favorite is "The General" locomotive.
     
  9. sky

    sky Member

    so, generally, as long as i go with a "name" i should be ok in the future. i should perhaps lean towards a more well-known name so that any transactions in the future would be problem free (or at least more so).

    WLhalves, i have been looking at everything from apmex. i will keep them in mind. i am looking to more or less take your approach, but perhaps only 10oz at a time.

    Cloudsweeper99, thank you for the link. it was new to me, and i am always looking for more options. as an aside, i love the look of those 100oz bars. would love to have a safe full of those.

    unrelated question, but, in order to place any metals in an ira, does one have to have a specific ira for only the metals? if so, is this where the storage fees..etc...come into play?

    thanks
     
  10. sky

    sky Member


    i just said the same thing!
     
  11. skippy

    skippy Senior Member

    I buy Englehard, Northwest Territories, & Johnson Matthey when it comes to silver bars. Though I do have others because I got them nearer to spot price.
    The Engelhards I've sold in the past have sold for a little more than the others. Didn't matter if they were toned or proof like.
     
  12. sky

    sky Member

    thanks skippy for your thoughts. since there seems to a fair amount of brands being tossed around, where does everyone obtain their hoard (store/web site...etc..)? it is understood if you don't want to give up your secret...:secret:
     
  13. Victor

    Victor Coin Collector

    Ira

    Since nobody has addressed the question about Precious Metals in IRA here is my opinion. No way! Nobody is going to know what I own and especially those who would love to tax me on it. If I buy 10 ounces of silver from Mr. Arnold and sell five to Mr. Smith do I want anyone to know about it?
    So far the State of Connecticut does not charge sales tax on purchases of bullion and coins.
    The wonderful State of Massachusetts does if the dealer wants to do the paperwork. And it's now 6.25 percent in Mass.
    Opening an IRA with metals is in my opinion inviting taxation- period.
    When the time comes to sell I want it to be a private matter with nobody sticking their nose in.
     
  14. sky

    sky Member

    victor, i hear you. i was just curious and wanted to know if i understood how they work. i suppose i could have just looked into it, but it just popped in my head while i was typing my message.

    thanks
     
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