What do bullion buyers think about sterling silver bars?

PerryHall

I just bought a Franklin mint 925 sterling silver bar that weighs 1000 grains which has 1.92 Tr Oz of pure silver for $30 last week. It was a frosted proof like bar in a fancy case. Do bullion buyers/dealers discount sterling silver bars and if so by how much are they discounted? At the time I bought this bar, it had $34 worth of silver melt value so I didn't do too badly. Obviously 999+ silver bars are the best way to go but I was curious what you guys thought about sterling bars and how much they should be discounted (if any) when buying or selling. Do you guys avoid them or do you buy them when the "price is right"? Comments?

Coulport

We classify them as 'generic' material and buy at 15% back of melt and sell at spot.

Ciccio

I like only the ones with the landmarks of my town!
It came with no discount though.

1970SilverArt

I prefer .999 silver art bars but I like certain sterling silver art bars. There is nothing wrong with sterling silver art bars but it is a matter of preference of what collectors want to buy to add to their collection. Most of the Franklin Mint silver art bars are sterling silver art bars that were minted in the 1970's. Franklin Mint sterling silver bars have some "rarity" value to it and most of the time, these Franklin Mint sterling silver art bars will sell for a high premium over spot on ebay based on past ebay auctions that I have seen.

AgBlox

They're hard to get rid of unless you're willing to sell 10 points or better back of ask. I used to have a bunch of the Franklin Mint small ingots such as flag sets that came with 50+ ingots but only had 2 oz of silver total. Those sold for a slight premium over melt.

This is currently the only sterling bar I have:

BBQnBLUES

Can't comment on SS Bars, but I can on Sterling Silver Mint Julep Cups... The prices are Ridiculious !!!!

FYI Most of the traditional style cups weigh 3.5 to 4 ozs, but eBay sellers are asking $300+ per cup... yikes

Guess my guests will just have to settle for "White Trash" juleps served in Ball Mason Jars. ha

Weiss

They're not bullion, to me at least. I own a few sterling medals. I like them. But,

1. they're not liquid
2. their purity is suspect
3. it's a guess as to what you'll be able to sell them for.

And it's just about as hit or miss in determining their price when they sell. One dealer may try to charge a premium for nice pieces. The next may dump them in a bucket and offer them back of melt.

Ironic that pieces easily more rare and more pure than 90% sells at a discount.

RedHerring

<< <i>...weighs 1000 grains which has 1.92 Tr Oz of pure silver for $30... >>



At that price I'd buy. Over $35 in silver for 15% under melt. Not bad at all.

I would not more than 90% of melt though.

CaptHenway

Virtually all of the sterling silver that we buy in ends up in the melting pot. It is virtually impossible to sell.
TD

cladking

<< <i>Virtually all of the sterling silver that we buy in ends up in the melting pot. It is virtually impossible to sell.
>>




Do the refiners still pay about 5% back?

CaptHenway

It depends on the net fineness, plus you have to factor in lot fees that have to be amortized over how big your lot is.