Have you ever heard of 90%, 40%, etc. bars?

Discussion in 'Bullion Investing' started by Adam34falcon, Jun 5, 2019.

  1. Adam34falcon

    Adam34falcon Active Member

    Hello guys,

    I haven't posted for a while but a few days ago I came across something about silver bars that were not .999 silver and were either 90%, 35%, 40%, or .925 (I honestly can't remember if they were for sale, or if somebody just had an idea about this but I can't seem to find it again). Have any of you ever heard of it? If these existed in the market would you buy them? I guess I would be weary about authenticity but if they were sold by a reputable dealer I wouldn't see why not. Thanks and sorry if this post doesn't make much sense haha.
     
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  3. CoinCorgi

    CoinCorgi Derp, derp, derp!

  4. Adam34falcon

    Adam34falcon Active Member

    ;)
     
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  5. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    All of those percentages are available as they are coinage % and easily gathered in small quantities if people wish to hold it. 35% in war 5 cents, 40% in certain clad coins, 90% in prior small to dollars silver coins, .925 in foreign silver coins ( sterling), and .999 current bullion. It is easy to pick through such at almost any coin store and the premiums are less unless premium date or condition, much easier to handle until one wants only 10-100 oz bars :) Private bars can easily be altered, IMO, Jim
     
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  6. fretboard

    fretboard Defender of Old Coinage!

    Personally I don't go below .999 as it's not worth my time. Liquidity is much easier with .999 silver as opposed to .925 or anything lower.
     
  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    You can basically melt down anything and make a bar out of it
    Regardless of the percentage, but who would want to ??
     
  8. -jeffB

    -jeffB Greshams LEO Supporter

    You can gather a bunch of 90% coins, or 40% halves, or 35% war nickels, wrap them in rolls, and stuff them in boxes. Anyone can easily see what they are, check a few at random to make sure they're legit, and then buy with confidence.

    Or you could melt them into an anonymous bar, and require any buyer to either trust you that it's what you say, or drill it and run a chemical analysis to verify it. Every single time.

    Why on Earth would anyone do the latter? If someone claimed to have done so, why on Earth would you trust them?
     
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  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    It begs the question, if you melt down silver that is less pure then .999, how would
    You detect it ? you could throw a stamp on there and call it good, i have never
    Seen anything less so why would you be the wiser ??
     
  10. Adam34falcon

    Adam34falcon Active Member

    Thanks for all of the comments, and I totally agree with everything you guys said. However, I do have a question. If (hypothetically), a large dealer like APMEX made their own bars that were not .999, would you consider buying them then? I agree that it wouldn't make sense for most people to do so, but just wondering.
     
  11. Legomaster1

    Legomaster1 Cointalk Patron

    Where did you come across a 40% silver silver bar? Personally I've never encountered something like this.
    Typically, .999 silver is bullion, and .925 is sterling silver.
    As others have said, it would be pointless to sell a silver bar that's 35% or 40% silver- it would be incredibly hard to verify it.
     
  12. Kentucky

    Kentucky Supporter! Supporter

    As @Legomaster1 said, .925 is sterling silver (although I have seen .950 also). I have some old bars that are .925, and perhaps D. Carr's creations that are struck on .900 might qualify as "rounds" :troll:
     
  13. myownprivy

    myownprivy Well-Known Member

    You could always melt down your US junk silver and refine it to pure. But that would be illegal, and stupid, because everyone already can tell with confidence how much silver is in a US coin.
     
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  14. -jeffB

    -jeffB Greshams LEO Supporter

    Drag a corner across a stone, drop silver-testing acid on the streak, and see what color it turns. Or if you're a clueless pawn-shop employee, drip acid directly onto the bar, like my local pawn shop did on a couple of coins. :punch:

    Edit to add: ...but that's not foolproof, which is why I would never trust a random home-melted bar, no matter what's stamped on it.
     
  15. -jeffB

    -jeffB Greshams LEO Supporter

    Also, I'll grant that sterling is different. A bar or lump of .925 is easier to deal with than a pile of ugly forks and candlesticks. But I still wouldn't trust a bar from an unknown individual that claims it's sterling.
     
    Kentucky likes this.
  16. Kentucky

    Kentucky Supporter! Supporter

    Is melting down silver coins illegal?
     
  17. -jeffB

    -jeffB Greshams LEO Supporter

    Doesn't seem to be. I think the only things illegal to melt are cents and (75/25) nickels. I believe war nickels are explicitly fair game at this point.
     
  18. FryDaddyJr

    FryDaddyJr Junior Member

    and where did you "come across" these weird bars?
     
  19. myownprivy

    myownprivy Well-Known Member

    Not clear. It's explicitly illegal to melt pennies and nickels. It's illegal to deface all coins, so it's not clear if melting counts. Regardless, I doubt there's must risk of penalty if you do.
     
  20. Clawcoins

    Clawcoins Well-Known Member

    I have a lot of .925
    none of them are bar shaped though. They much more odd shapes than that ... oddly in the shape of forks, spoons, knives and assorted plates and stuff.
     
    Adam34falcon, Kentucky and CoinCorgi like this.
  21. CoinCorgi

    CoinCorgi Derp, derp, derp!

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