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Silver shoots the moon

MS66MS66 Posts: 233 ✭✭✭
in Precious Metals

It's gone up much more than I thought.

Yesterday it was $25, today it's what, $300?

https://www.ebay.com/itm/225558431232

Comments

  • MS66MS66 Posts: 233 ✭✭✭
    edited May 10, 2023 11:06PM

    Seriously..what am I missing here?

  • derrybderryb Posts: 36,809 ✭✭✭✭✭
    edited May 11, 2023 4:45PM

    Premium is based on rarity, not PM content, for such items. Spot price is the starting point, and only the starting point, when pricing fabricated products.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Silver is spot at $24.67/oz. as we speak here.... The premium lies in the bar/rarity... Cheers, RickO

  • rte592rte592 Posts: 1,668 ✭✭✭✭✭

    @MS66 said:

    Seriously..what am I missing here?

    People with deep pockets buying what they like.
    I saw a 5 Gram bar bid up to $400 with multiple bidders.

  • MS66MS66 Posts: 233 ✭✭✭

    Thanks guys, I understand about the rarity. I just don't understand why this particular artifact generates so much interest.

  • tincuptincup Posts: 5,135 ✭✭✭✭✭
    edited May 11, 2023 3:32PM

    Deep pockets. Probably thinking there will be 'deeper' pockets further down the road?

    ----- kj
  • johnny9434johnny9434 Posts: 28,325 ✭✭✭✭✭

    @MS66 said:

    Seriously..what am I missing here?

    This is cool to see, I like 👍

  • blitzdudeblitzdude Posts: 5,891 ✭✭✭✭✭

    Gutter down 4%+ RGDS!

    The whole worlds off its rocker, buy Gold™.

  • rte592rte592 Posts: 1,668 ✭✭✭✭✭
    edited May 11, 2023 3:36PM

    @MS66 said:
    Thanks guys, I understand about the rarity. I just don't understand why this particular artifact generates so much interest.

    It's a HomeStake bar, highly prized.
    Might even be a few fakes out there??
    At least Two people obviously want it.
    750 made according to allengelhard.com

    Maybe someone sees something I don't like it was stamped on the opposite side like this ONE of ONE

  • tincuptincup Posts: 5,135 ✭✭✭✭✭

    Definitely a neat looking bar.

    ----- kj
  • GoldFinger1969GoldFinger1969 Posts: 1,757 ✭✭✭✭✭

    Homestake is legendary, a company that existed for the better part of a century in various forms. A big winner during The Depression, as I recall.

    A bunch of FDR Administration employees owned Homestake during their government tenure !

  • MS66MS66 Posts: 233 ✭✭✭

    @tincup said:
    Definitely a neat looking bar.

    I agree, and a nice photo too. Though it does look a bit like lead.

    Ended up going for 3550.

  • mbogomanmbogoman Posts: 5,182 ✭✭✭✭✭

    What I didn't like about this one is that there were no clear, head-on shots of the HMC stamp. There are a couple of "die markers" that are always visible on authentic bars with the HMC gold bar stamp (which this is an example of), but you couldn't see them on this bar because of the photo angles and the deep divot near the center of the stamp. I still think it's real - everything looks great, but for that kind of money I would want to be positively sure.

    mbogoman

    Asesabi Lutho

    https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345
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