Question on veryfying a non marked 100 oz bar
jdimmick
Posts: 9,691 ✭✭✭✭✭
What is the best way to get rid of a 100 oz non marked silver bar.
About 6 months ago, I purchased a large collection that contained nearly 1200 silver dollars, several thousand halves, etc. In this collection there was also a 100 oz silver bar that was not marked at all. It made me nervous at first, but everything checked out and it looked and felt right, the family purchased it from some somewhere in Tenn years back. The family parted with all the coins, but the son wanted to keep the 100 oz bar. At the time based on the silver price, I offered them 1700 for the bar . Before I made the offer, I had it x-rayed by the dentist next door to me, and it was okay, I even had a regional bullion dealer take a look at it and he said it looked okay to him and weighed right. Well too make a long story short, the son came back this saturday and needed to sell it to raise money, of course my offer was a lot lower due to the recent drop. I dont think he realized the market price was off that much, but didnt have a choice. Any I bought it, I checked it over closely and it looks the same as it did when i first saw it, hasnt been messed with or anything. My question is Id like to sell it, but what would be the best way to dispose of this type of bar. I would hate to sell it to somebody, and then they come back down the raod and say it was not legit or something becuase the price dropped even more or something.
Due bullion dealers such as APMEX buy bars such as this, checkem out when they recieve them , so there is no questions or problems down the raod? Any help would be appreciated! I will add a pic tomoorow, its down in the safe in the store , Ill bring it home tomoorow evening.
jim
About 6 months ago, I purchased a large collection that contained nearly 1200 silver dollars, several thousand halves, etc. In this collection there was also a 100 oz silver bar that was not marked at all. It made me nervous at first, but everything checked out and it looked and felt right, the family purchased it from some somewhere in Tenn years back. The family parted with all the coins, but the son wanted to keep the 100 oz bar. At the time based on the silver price, I offered them 1700 for the bar . Before I made the offer, I had it x-rayed by the dentist next door to me, and it was okay, I even had a regional bullion dealer take a look at it and he said it looked okay to him and weighed right. Well too make a long story short, the son came back this saturday and needed to sell it to raise money, of course my offer was a lot lower due to the recent drop. I dont think he realized the market price was off that much, but didnt have a choice. Any I bought it, I checked it over closely and it looks the same as it did when i first saw it, hasnt been messed with or anything. My question is Id like to sell it, but what would be the best way to dispose of this type of bar. I would hate to sell it to somebody, and then they come back down the raod and say it was not legit or something becuase the price dropped even more or something.
Due bullion dealers such as APMEX buy bars such as this, checkem out when they recieve them , so there is no questions or problems down the raod? Any help would be appreciated! I will add a pic tomoorow, its down in the safe in the store , Ill bring it home tomoorow evening.
jim
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--Severian the Lame
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
I sent them two "US Mint" bars (circa mid 1960's, marked only with black marker) without a problem.