I have a 1/10th ounce platinum coin that I would like to trade. My local dealer offered me 2 1/10th ounce gold or a 10 ounce silver bar. Given spot prices, does this seem fair? Thanks- Mike
With the current market prices, you're losing about $10-$15. But, if I HAD to pick one, I'd take the 10oz silver bar. If the silver bar is an Englehard, that would be an even better trade. Just my opinion as I speculate that silver has a lot more room to move. I'm sure someone with more experience will be along to give you even more insight.
if it's one or the other go with the silver. Will he give you 5 1 ounce silver rounds and a 1/10th gold? just a thought.
I guess that makes sense. I was being too greedy with the spot price, it seemed a bit too wide of a spread. I'll drop in Monday and see if he is still offering the deal. Thanks- Mike
I'd go for the silver, I believe it has more room to gain. Question for rotobeast, why is Englehard better than the others? Are there bars more consistant on weight?
Englehard is a good company but be careful with 100 oz bars as there are some that are bad. I have seen a few of these and I have not seen one come back at more then 55 oz. They are the same size and if you put them on a scale it weights 100oz but they are filled with another metal on the inside. I have also seen one 1000 oz bar like this a few years ago. The best way to tell if it is good or not is to place it on a pill bottle or somthing of that nature and tap it with a small hammer. If it rings and holds the tone for a while it is good. All bad bars thud and loose the ring very fast as well as it is not as high pitched.
That sounds as if someone dug a little silver out and replaced it there, WMS. I usually don't buy more than the 10 oz bars. I will be on the lookout, however. Thanks for the heads-up.
There were 3 people and maybe a fourth involved in the bad bars. They still have yet to come up with a number of how many are bad. Also they will not refund your for the bar so if you get a bad one make sure you don't pay full price. All dealers around here purchase them as 40 oz since they have been accounts of the bars being that far off.
I wouldn't trade. I would prefer platinum for now. If you wanted to trade, it isn't a really bad one.
I'd say the silver too if you want the trade, but you don't know what silver might do before you get there. Phoenix
never heard of bad bars, is this a serious problem with the 100 oz bar. I was thinking about getting one this week. I'm hoping for some profit taking at the first of the week and than maybe buy one.
