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Few questions about silver bars

I am thinking about picking up either a 50 oz or 100 oz silver bar off Ebay. I am wondering if their are a lot of counterfeits on Ebay and what I should look for? I don't really care about getting the most rare bar out there I just want it to be authentic of course. Any particular companies or markings I should look for on bars to make sure I get the real thing? Thanks

Comments

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    My personal feeling is don't buy anything more than 10 oz on eBay. Buy the larger bars in person, weigh them for correct weight, have a fairly powerful magnet to test conductivity. Take a picture of it and a receipt from the seller next to it with a camera phone in case you do have to bring it back to them.
    Buying bars larger than 10 oz on Ebay is trouble waiting to happen imo.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭
    My preferences are Johnson Mathey or Engelhard, and they will typically carry a little higher premium than other brands. I have never heard of a fake 100 ozer on Ebay, but there was a time many years ago when someone drilled out the center of many Engelhard bars and filled them with lead.

    A 50 oz will generally command a higher premium than a 100 oz.

    You would probably get the best price either here on the BST, a local show, or a local B&M.

    Also realize they can be difficult to get rid of sometimes, as many people prefer smaller bars.

    Hope this helps.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I prefer to trade (buy/sell) with someone that provides a two way market on these. I pick up the phone and boom, sold. I pick up the phone and boom, bought. I love 100 oz bars and I like the tight spreads. Free delivery for the folks I do business with.

    50 oz bars as WR stated I treat as collectable bars in most cases and expect higher premiums.

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • celloscellos Posts: 128 ✭✭
    Thanks for the insight and that advice makes good sense. I will look into maybe doing several 10 oz or 5 oz bars just to be safe. Have you guys ever heard of any bad 10 oz or 5 oz bars that I should be aware of?
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Thanks for the insight and that advice makes good sense. I will look into maybe doing several 10 oz or 5 oz bars just to be safe. Have you guys ever heard of any bad 10 oz or 5 oz bars that I should be aware of?

    You're welcome. Any size bar can be faked, it's just my personal preference to stay away from the large bars for reasons WR & MJ stated. They are harder to sell. Always think when you buy a bar of how easy will it be to sell when that time comes. Most people can afford up to 10 oz bars, with larger bars it's more of a limited buyers pool. Also, something may happen where you need some cash quick. Now you have to sell the whole 100 oz bar, that's alot of $ tied up inot 1 thing. I'd prefer to have ten 10 oz'ers, or twenty 5 oz'ers. That way I can sell only what I need to sell rather than trying to find a buyer of 1 large bar.
    All jmho of course. Ultimately, do what pleases you, just do it smartly.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    Be sure to purchase your BULLION bars from reputable National dealers such as: Provident, APMEX, NTR, Scottsdale. Chances are slim in you getting a "fake" from them. eBay would be my last stomping ground for bullion purchases.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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