POLL: Would you buy a hand poured silver bar from someone you didnt know personally?
gecko109
Posts: 8,231 ✭
Im talking hand made, hand poured stamped as .999 fine silver. Would you buy these or pass in favor of brand name bars?
0
Comments
<< <i>I recently had a chance to purchase to of these 5 oz home poured bars. I passed and the seller had them tested afterwards. turned out to be 90% >>
There were literally tons of 90% bars poured back in the late 60's and early 70's.
All shapes and sizes.
Came from illegally melted US coinage.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
I pass on bars/rounds from the top dog mints that don't happen to list the metal type as well. For me it's got to have purity, weight, metal type & brand name.
and what they were up to. the trick is i would pay little to no premium... and would want to know where the silver came from. if
you used silver shot from apmex, it would make me feel better about it.
better to buy a 1000 ounce bar, send it to silvertowne, and have
them pound out what you want.. with them putting their name on it
somewhere small... to get you rolling. you design the rest of the stamp.
//////////////////////////////////
Yup.
if they have a "panda assay"...i'd bite for spot
yet i also voted no
<< <i>Market research not going so well here Gecko, when are you gonna spill the beans on your plan? >>
The plan is moving full steam ahead. First bars should be for sale just after the new year. They will sell for a large premium above melt however, but will not be your typical 1, 5 or 10 ounce offerings. Im talking hand poured, hand stamped fractional "mini bars". Stay tuned!
<< <i>i quickly realized your plan makes a nice hobby but the profit potential is sorely lacking. >>
I wonder what this guy thinks of your last statement?
Silver sale
He is selling hundreds of 1 gram silver "bars" for between $3 and as high as $7 each. Furthermore its simply barstock that he cuts. Nothing collectible nor desirable about it. My bars will be hand poured and stamped (highly collectible). I get my silver for less than 38 cents a gram currently at APMEX. Looks to be a pretty sweet return to me!
<< <i>Hell, I'll buy some from ya
My 1st customer....until you see my prices!
3.5x on that KiloMonster? Now that's another story...
<< <i>
<< <i>i quickly realized your plan makes a nice hobby but the profit potential is sorely lacking. >>
I wonder what this guy thinks of your last statement?
Silver sale
He is selling hundreds of 1 gram silver "bars" for between $3 and as high as $7 each. Furthermore its simply barstock that he cuts. Nothing collectible nor desirable about it. My bars will be hand poured and stamped (highly collectible). I get my silver for less than 38 cents a gram currently at APMEX. Looks to be a pretty sweet return to me! >>
Please consider cost of raw materials .50,
e-bay listing fee .35, e-bay final value fee .27,
and paypal fees .37, stamp and envelope .50
total $1.99.
now factor in the time it takes to cut them.. polish them... stamp them... package them...
now also factor in the cutting tools, the waste silver from cutting,
polishing tools, stamp, and gosh only knows what else...
and then factor in the thought you have to sell 100s and 1000s of them
to even consider it worthwile...
you would be better off just buying regular silver rounds and making
two dollars an ounce on them...
i am playing the devil's advocate here but everything i have stated
seems reasonable enough to me to call the plan silly. In more normal
times this would be a fool's errand. Only now and i am unsure how
long into the future will rubes by 1 gram of silver stamped 999 for 5 bucks a whack!
also i should add, picking out the most expensive ebay auction that
recently ended while ignoring the majority that were very low... is
hardly making a case. You would have been better of showing one
ending for 3.50.. which seems to be the average.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
<< <i>
<< <i>
<< <i>i quickly realized your plan makes a nice hobby but the profit potential is sorely lacking. >>
I wonder what this guy thinks of your last statement?
Silver sale
He is selling hundreds of 1 gram silver "bars" for between $3 and as high as $7 each. Furthermore its simply barstock that he cuts. Nothing collectible nor desirable about it. My bars will be hand poured and stamped (highly collectible). I get my silver for less than 38 cents a gram currently at APMEX. Looks to be a pretty sweet return to me! >>
Please consider cost of raw materials .50,
e-bay listing fee .35, e-bay final value fee .27,
and paypal fees .37, stamp and envelope .50
total $1.99.
now factor in the time it takes to cut them.. polish them... stamp them... package them...
now also factor in the cutting tools, the waste silver from cutting,
polishing tools, stamp, and gosh only knows what else...
and then factor in the thought you have to sell 100s and 1000s of them
to even consider it worthwile...
you would be better off just buying regular silver rounds and making
two dollars an ounce on them...
i am playing the devil's advocate here but everything i have stated
seems reasonable enough to me to call the plan silly. In more normal
times this would be a fool's errand. Only now and i am unsure how
long into the future will rubes by 1 gram of silver stamped 999 for 5 bucks a whack!
also i should add, picking out the most expensive ebay auction that
recently ended while ignoring the majority that were very low... is
hardly making a case. You would have been better of showing one
ending for 3.50.. which seems to be the average. >>
I took his highest recently sold price to demonstrate how much people will pay for nothing more than snipped barstock! Just imagine what they would pay for a hand poured "mini bar"! Even if he sells them for no more than $2.99 each, he is making over $1.00 PROFIT per piece. Seems to be a worthwhile "hobby" to me FC. And you were right....it will be just a hobby, but one that more than pays for itself.
Lewis