Have two 100 silver bars - where do I sell them?

zeebob

In another thread it became clear I should have asked for advice BEFORE selling 5 oz of gold.

Now I have 200 oz of silver to sell. So before I make the mistake of lugging the two bars into my local B&M, I thought I'd ask you guys first. If you were selling these, where would you send them?

Also, is there any premium for the toning (like I should put them on BST or Ebay as "collectables") or are they just bullion?

Norseman88

No premium for toning on Silver bars, if you have a legit dealer he should offer spot plus 20 cents for name brand 100 oz. bars like yours.

fc

local dealer should snap that up. save the cost of shipping, the cost of ebay/paypal fees,
and walk out with cash on the barrel head.

sure you may be able to squeeze a bit more out of the transaction but the feeling of
having cash right away is a good one.

MoneyCollector

<< <i>No premium for toning on Silver bars, if you have a legit dealer he should offer spot plus 20 cents for name brand 100 oz. bars like yours. >>



For bars, do dealers really pay a premium? I know on gold and silver eagles they do. I ask b/c I always bought eagles and have sold some but only recently started buying bars and have never sold one.

Right now with silver at 17.36, apmex will pay $1,715 for a 100oz. JM bar, so a slight .012% discount to spot. Apmex is asking $1,799 for the same bar. Find someone here who wants it and split the spread with them and you're both happy. If nobody is to be found, then
find your best offer from a dealer. Apmex (adjusted for shipping cost) is your starting point and right now is your floor.

Randy

gsa1fan

I'd buy them but AMPEX ain't sent me my check yet!

A B&M should be begging for silver to sell now just tell them what you want with in reason & stick to it. NO less than spot.

SilverEagles92

BST.

You'd be surprised just how strong the buying power of some of the members here really is.

And if they don't sell for whatever reason, what have you lost?

Always try the BST first.

rgCoinGuy

This thread just might do it. If not BST would be best second option.

Third option, Ebay - if you haven't listed yet this month, you can sell them with a final value fee of 20.00 each, or sell them as one lot and 20.00 total final value fee. The first 5 listings each month qualify for this promotion.

mkman123

BST first then if no takings offer it elsewhere. I love BST because I can send a money order and I accept money orders..........paypal isn't gonna take its cut!

I think you should keep those 100 oz bars.........why sell it?? Did you recently buy it or did you buy it when silver was at 6 a oz???

zeebob

<< <i>I think you should keep those 100 oz bars.........why sell it?? Did you recently buy it or did you buy it when silver was at 6 a oz??? >>



After doing some reading, I think I'm okay with the "hold" advice for a bit. Maybe if we hit $18.50 or something I'll take Rg's advice and sell.

No, I didn't buy it when silver was $6/oz. I got it the old fashioned way. I inherited it. Mom died and I (sole heir) found two bars when cleaning out her house. One was under the bed. One was a door stop in the kitchen of all things. I found the receipt but don't have it with me. I think she bought it in 1988 or something, maybe paid $12.??/oz - does that sound right?

roadrunner

If those 2 bars are your entire silver stash, I'd sit on them until the day that silver hits the mania stage.

roadrunner

zeebob

<< <i>If those 2 bars are your entire silver stash, I'd sit on them until the day that silver hits the mania stage.

roadrunner >>



I'm holding and plan to spend some time reading about the topic. Thank you (and thank you for the PM - very helpful)

Cladiator

Silver and gold are just about as liquid as water as long as you stick to well known and respected manufacturers. Your bars are Johnson Matthey which is solidly in the top 2 or 3 of most well known and respected non-governmental bullion producers. "Mania" in my opinion would be $30+

1jester

Your mom was way cool!! A class act - 100 oz JM bar for a door stopper.

jmski52

Back in the mid-80's I bought 3 100 oz. bars from Sunshine Mining and took delivery. I kinda miss them!

zeebob

<< <i>Your mom was way cool!! A class act - 100 oz JM bar for a door stopper. >>



Thanks. Mom was a very neat lady. But I think it was the alzheimer's that put the silver bar in the kitchen as a door stop. I can just imagine that while she was putting away here latest coffee maker (I found 12 of them in the house) she happened across the bar that she had stashed in the back of a closet or something and wondered what it was and why she had it. She probably concluded that it was a door stop that had gotten kicked into the closet.

As for the coffee makers... She liked coffee. I think she probably would see a coffee maker at a store and think - "I like coffee, this looks easy, I should get this." Of course she already had a house full of coffee makers that were, in the end, too hard for her to use.

I brought her down to live with us. She was happier with her son making coffee. She liked Bailey's or Kallua in it. She was a neat lady.

NumbersUsacom

Uh Oh ......They look like new bars with AT

yellowkid

A door stopper, I love it!!!