(Update**Got the Bar) 100 oz silver bars >>> need some help please
rah1959
Posts: 964 ✭
+++++Friday 22/Aug......A quick update....went back today to get the SILVETOWNE bar I discussed below. Checked Kitco before leaving and silver spot was at 13.50.....so I told the fellow what silver was at when I left the house...... and he said that was too much considering how little he had in it from 30 years ago........ and he told me I could have it at $10 an ounce....told him that was too low so we went back and forth and he finally accepted $11.50 an ounce...I was happy and he was happy. Neat bar....thanks for all that gave me their opinions of Silvertowne.+++++
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I normally only purchase Engelhard and JM 10 and 100 oz silver bars.
Have a friend who has an older poured or cast (not sure the correct terminology) SilverTowne bar.
It is stamped marked as such (XXXXX is a 5 digit serial number)
SilverTowne (in a script writing)
100 OZ XXXXX 999 FINE
How do the experienced silver bar buyers feel about SilverTowne bars?
Is there any discount versus Engelhard or JM bars of the same size?
I have always thought they were hard to sell at a later date? True or false?
I want to be fair in my offer to him. He is elderly and retired and will let me have it for a fair price....He said he has owned it for 25-35 years...but cannot exactly recall the year he bought it.
Thanks in advance to any and all opinions!
RAH1959
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I normally only purchase Engelhard and JM 10 and 100 oz silver bars.
Have a friend who has an older poured or cast (not sure the correct terminology) SilverTowne bar.
It is stamped marked as such (XXXXX is a 5 digit serial number)
SilverTowne (in a script writing)
100 OZ XXXXX 999 FINE
How do the experienced silver bar buyers feel about SilverTowne bars?
Is there any discount versus Engelhard or JM bars of the same size?
I have always thought they were hard to sell at a later date? True or false?
I want to be fair in my offer to him. He is elderly and retired and will let me have it for a fair price....He said he has owned it for 25-35 years...but cannot exactly recall the year he bought it.
Thanks in advance to any and all opinions!
RAH1959
0
Comments
to get a good idea.
as they do the JM, Ampex and Engelhard bars
<< <i>i would go right to ebay and look for it under completed auctions
to get a good idea. >>
Good suggestion...did just that.......only one from Silvertowne in the last 60 days....sold for $1775.00......same style and markings as the one I am considering...except the serial number is later by 14000.
I've bought enough bars to know what to offer in a fair price at current silver price...I am more concerned about the reputation of Silvertowne when and if I go to resell it....later...down the road.
not have to discount the bar too much.
If you are up against a sharpie when you go to sell, he will complain
that the bar "might need to be assayed before I can move it," and try to buy it cheap.
In general, it is best to stick to the big two makers. BUT, if the price is discounted
I will still buy off-brands.
I Guess This Is The Right SilverTowne
<< <i>I don't know what their buy price is. But my local B@M sells the Silvertown for the same amount over spot
as they do the JM, Ampex and Engelhard bars >>
Thanks James.....that is good to know....somewhere in the vast emptiness of my mind...I recall some discussions among silver bullion buyers that some silver firms were looked upon less kindly than others...so I normally stick with Engelhard and JM.....I do recall Sunshine was one that was mentioned.....just can't recall if Silvertowne was too?
I am sure I will get more opinions.......
RAH
<< <i>If you are selling to an honest and sophisticated buyer, you should
not have to discount the bar too much.
If you are up against a sharpie when you go to sell, he will complain
that the bar "might need to be assayed before I can move it," and try to buy it cheap.
In general, it is best to stick to the big two makers. BUT, if the price is discounted
I will still buy off-brands.
I Guess This Is The Right SilverTowne >>
Yes...that is the correct firm...they don't even offer the 100 ouncer any longer.
I am the buyer here.....and will pay a fair price....my main concern was the reputation among other silverpm buyer of Silvertowne
Very true also as you state..........definately depends on who you take it to when it comes time to sell...I tend to hoard.....so I am planning on it to be many years down the road.
I am glad that so far it seems Silvertowne is reputable?
RAH
All the others fall behind....
Don't throw your back out moving all these bars around young fella....
<< <i>Don't throw your back out moving all these bars around young fella....
I wish!
Been waiting for silver to drop back down....read tons of threads here about not trying to catch a falling knife....but....I also did NOT feel silver would go below 10....so I bought some late last week and today....problem is finding anyone wanting to sell at these prices.
A local B&M (about 40 miles away actually, we only have 2 "coin" stores here) I visited today, had twelve 10 oz JM bars.....he would not sell...said he had too much in them to sell at these levels....I understood...and told him I would check back in another time...would have loved to have gotten them.
Friend of the family has the 100 oz SIlvertowne..and I went to see it today...he is a fine guy...does not need the money but would sell it to see it go to someone he knew that would hold it....He will be paid fair...just wanted to know what others thought of Silvetowne.....great analogy with the top tier slabbers!
Thanks James for your input..I repect your silver knowledge.
RAH1959
revised for spelling....I only type with 4 fingers!
You can buy it for less as well.
I own several of them, but I paid a fair amount less in buying them.
The extruded ones are pretty, I keep one in a crystal bowl on my glass & brass coffee table.
Makes for a nice conversation piece. It's the only bar I keep in my home. It's also the only one I've ever dipped in silver cleaner.
Ebayers will pay anything sometimes, not sure I'd go by that as a benchmark.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Looks like if or when I decide to sell..it will depend on where I take it, as to offer price.
All my other bars are extruded....they are ok...look machined...I sort of like the look of this Silvertowne....being a poured or cast example.....not like an antique crude shaped one....but in between....kind of neat.
Thanks,
RAH
I had some poured Sunshine Mining 100 oz. bars back in the '80s. I never had a problem selling them. I think that they went out of business or were bought at one point, so they might be subject to discounting, but the bars themselves were fine.
I knew it would happen.
<< <i>My local dealer always tells me "silver is silver" and he buys and sells with same spread, no matter who made it. >>
this is good to hear....I have one dealer like that...and one that tends to beat you down on ANY silver.....
Since I hoard and don't plan to sell in the near future....I won't worry about that now.....will do my homework in the far future before selling...to find the good and fair buyer.
Thanks to all that have posted....I feel better with the poured Silvertowne bar and will make it mine tomorrow, hopefully.
Please continue to post about Silvertowne or any comments on 100 oz bars..as I enjoy reading them and learn something from them!
All the best,
RAH
<< <i>A Silvertowne bar will bring you .50 less per ounce than Englehard or J&M around here(Houston).
You can buy it for less as well.
I own several of them, but I paid a fair amount less in buying them.
The extruded ones are pretty, I keep one in a crystal bowl on my glass & brass coffee table.
Makes for a nice conversation piece. It's the only bar I keep in my home. It's also the only one I've ever dipped in silver cleaner.
Ebayers will pay anything sometimes, not sure I'd go by that as a benchmark. >>
What he said. Silvertowne bars are absolutely liquid. I'll take all you have, and don't need to assay them.
That said, they do trade a little cheaper than Englehards or J-M's on both the buy and the sell, just as KR's trade cheaper than Eagles on both the buy and the sell. It's the law of supply and demand.
TD
I'd buy any brand of silver bullion right now.
Better to buy the big names, true. But in the long run, it's not going to matter much.
I was just talking to my friend at work about this today. He wondered why someone would sell silver
with the price down like it is... I said, you wouldn't think it was down if you only had 4 or 5 bucks an ounce
in it... You would look at it as triple your investment..
It's hard to think like that when silver was 12 to 13 an ounce when you started investing. Like it was when we started.
My only hope is 20 years from now I can say the same thing when I sell...
<< <i>My only hope is 20 years from now I can say the same thing when I sell...
My thoughts exactly......20 years from now....me.....my gazillion dollars from my investments...and a wash tub of homemade Chocolate Chip Cookies!
<< <i>homemade Chocolate Chip Cookies >>
All right Rah I am going to have to pull out the heavy artillary...
<< <i>
<< <i>homemade Chocolate Chip Cookies >>
All right Rah I am going to have to pull out the heavy artillary...
cruel!.....cruel.....and double cruel!!!
and make a tidy profit. that has to feel good.
<< <i>+++++Friday 22/Aug......A quick update....went back today to get the SILVETOWNE bar I discussed below. Checked Kitco before leaving and silver spot was at 13.50.....so I told the fellow what silver was at when I left the house...... and he said that was too much considering how little he had in it from 30 years ago........ and he told me I could have it at $10 an ounce....told him that was too low so we went back and forth and he finally accepted $11.50 an ounce...I was happy and he was happy. Neat bar....thanks for all that gave me their opinions of Silvertowne.+++++
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Why didn't you just tell him to give you $200 and keep the bar? It would have been so much easier!
<< <i>rah you got a great price! good for you! you could sell it today
and make a tidy profit. that has to feel good. >>
thanks...yeah I know...but my original intention was to hold.....for the long haul....I would have never flipped it on this fellow...he is a nice old guy...he held it for years and I hope to do the same. Will add it to the growing pile.
Good luck on your searches for silver...
try to spring for 20-10 Oz bars and get a discount.
<< <i>as for the search, i might as well buy some bars from apmex...
try to spring for 20-10 Oz bars and get a discount. >>
Good luck...please post your results on this....I may try the same.
I bet I have made 40 phone calls in the last 10 buisness days....looking for silver bars in a 50-75 mile radius of where I live....found a few...but many dealers Coin) are holding....jewelers were easier to deal with and seemed willing to let what little they had taken in on the side go...
Been an interesting discussion...I've enjoyed it...
Let me know how the Apmex deal goes down.
RAH
<< <i>+++++Friday 22/Aug......A quick update....went back today to get the SILVETOWNE bar I discussed below. Checked Kitco before leaving and silver spot was at 13.50.....so I told the fellow what silver was at when I left the house...... and he said that was too much considering how little he had in it from 30 years ago........ and he told me I could have it at $10 an ounce....told him that was too low so we went back and forth and he finally accepted $11.50 an ounce...I was happy and he was happy. Neat bar....thanks for all that gave me their opinions of Silvertowne.+++++
******************************************************
******************************************************
I normally only purchase Engelhard and JM 10 and 100 oz silver bars.
Have a friend who has an older poured or cast (not sure the correct terminology) SilverTowne bar.
It is stamped marked as such (XXXXX is a 5 digit serial number)
SilverTowne (in a script writing)
100 OZ XXXXX 999 FINE
How do the experienced silver bar buyers feel about SilverTowne bars?
Is there any discount versus Engelhard or JM bars of the same size?
I have always thought they were hard to sell at a later date? True or false?
I want to be fair in my offer to him. He is elderly and retired and will let me have it for a fair price....He said he has owned it for 25-35 years...but cannot exactly recall the year he bought it.
Thanks in advance to any and all opinions!
RAH1959 >>
And people say that we coin dealers underpay...........
Tsk!
Tsk!
TD
<< <i>And people say that we coin dealers underpay...........
Tsk!
Tsk!
TD >>
Ok....I am not good on internet "tongue-in-cheek" so I think you are ribbing me correct?
As I clearly stated in my update that I informed the man that silver was at $13.50 an ounce when I left the house to go see him...he said $13.50 was too much....and said he would let me have it for $10 an ounce...I countered because that was too low for me to pay and WE settled on $11.50 an ounce. Knowing how long he held it..I am sure he was pleased with the $11.50....and I was pleased to get it below current melt. I can sleep well knowing I treated him fair.
If you were kidding me...thats cool...no offense taken here.
All the best,
RAH
TD
<< <i>Yes, I am ribbing you. You did the honorable thing.
TD >>
thanks....i thought so from reading your past level-headed posts throughout the last year.....but a good ribbing is also cool........
I know there is a fine line to walk on buying and selling when dealing with people that are not educated in current values........and I figure the easiest way to walk it is to treat all fair and square as I would want to be treated.
now....if I could just find a few more priced near spot before silver takes the run up again.
Happy Sunday to all!
RAH
But I guess it was worth it....
<< <i>I spent 8 hrs yesterday getting my ribbing..
But I guess it was worth it....
I believe Cinman not only knows his silver....but has top-notch culinary skills!