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When you bid on a rare PM bar, how do you decide what the bar is worth and what to bid?

PerryHallPerryHall Posts: 46,238 ✭✭✭✭✭
in Precious Metals
I'm curious how you guys decide what premium over melt to bid? Do you just go by your gut feeling? It's not like you can look it up in the gray sheets or other price guides.

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Comments

  • gecko109gecko109 Posts: 8,231 ✭
    When I used to collect, if I saw a bar at auction that I didnt have, or never have seen, and it was a recognized hallmark (JM, Engel, Pamp, etc), then I would bid STUPID money on it just to put it into my collection. By stupid money, im talking bids of up to $100 for a 5 gram silver bar. That doesnt mean I had to pay that much, but my proxy bid pretty much guaranteed i'd own the bar! Unless that a$$hole Cars was in on the same auction.image

    But to specifically answer your question, its all about how much I wanted a particular bar. Alot of "rare" PM bars arent even all that rare. Following the market for several years, I have a pretty decent database formulated in my head on values of specific, and often seen (4-20 times offered per year on ebay) bars. Truly "rare" in my eyes are bars that I have never seen, or seen 3 of or less in all my years of tracking them.
  • SilverBaronSilverBaron Posts: 767 ✭
    Many things.

    1] How often have you seen one offered?

    2] Is it a brand, theme or size that you like?

    3] [and this is the stupidest reason] ... So you pay $100 for a 1 gram silver bar.... so what?

    If you are " investing " in fractional bars .... WOW .... happy trails.

    I collect them strictly for enjoyment ...

    and as a very plesant change from numismatics.... [ and I am a PM nut!! image ]
    Silver Baron
    ********************
    Silver is the mortar that binds the bricks of loyalty.
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    If you're a serious collector of art bars, I suggest you purchase a copy of "An Indexed Guide Book Of Silver Art Bars 6th edition". It was published by J Archie Kidd and edited by Nancy Yee. Photos and listings for thousands of art bars, varieties, errors and canceled dies. It offers prices and mintage figures (when known) and other historical information that a collector of these pieces of art may want to know.
  • carscars Posts: 1,904
    They are worth what someone is willing to pay. The market is pretty consistent most of the time for bars that show up often. When a bar shows up only once or twice a year all bets are off. I normally just placed a really high Snipe on the bars I wanted and I rarely lost one. I Often overpaid but the bars I paid high $$ for I still haveimage
    Its all relative
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>If you're a serious collector of art bars, I suggest you purchase a copy of "An Indexed Guide Book Of Silver Art Bars 6th edition". It was published by J Archie Kidd and edited by Nancy Yee. Photos and listings for thousands of art bars, varieties, errors and canceled dies. It offers prices and mintage figures (when known) and other historical information that a collector of these pieces of art may want to know. >>




    Great read for 1 oz bars.....completely useless for fractionals.
  • MeltdownMeltdown Posts: 8,824 ✭✭✭✭✭
    I have a rare ingot up right now that is closing in about 2 hours. According to the Archie Kidd guide book, there was a mintage of only 500.
    It is currently sitting at $43 and I'm hopeful it will get some last minute bidders.
    I would post a link, but do not want to spam. image

    I suppose it really does come down to just what one is willing to pay... according to the guide book, this one is worth $35 over current spot.

    Click on this link to see my ebay listings.

  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    the archies book is only good for art bars not old pours or fractionals.

    You know when you get into rare PM bars, you will have already scoured ebay and all that for a general feeling on price to pay and them sometimes you just let loose and go into a bidding war. Some rare bars go for a little bit and others go for more. Just depends on what someone is willing to pay for it,.

    In general go to ebays completed listings and that will give you a good idea on what to pay.
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  • carscars Posts: 1,904


    << <i>

    In general go to ebays completed listings and that will give you a good idea on what to pay. >>



    That's good for common items but what about the bars you only see once a year or less?

    I've seen 10 Gram Engelhard silver bars sell from $8-$145. It all depends on who is bidding on the item, How many are listed at that time, How badly someone wants it & How much money they have over patients. Its a crap shoot. One of my fellow collectors told me when he finds a 1 bar he wants he bids $100 (1 oz & less) and leaves it at that. If he wins, He wins. If not he waits for the next one.
    Its all relative
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