??? About Silver Bars!!
BAJJERFAN
Posts: 31,082 ✭✭✭✭✭
Other than J-M, Engelhard, Amark, Sunshine Mint, etc. which makers' silver bars are liquid in the sense that you can purchase them and feel confident that the bars are genuine and legit? I see Tulving offers silver bars from NTR Metals, but if one is not familiar with the name NTR how does one know that he/she is not buying a pig in a poke?
Which makers' bars are by virtue of their positive notoriety more/most likely to command a premium when buying or selling?
Which makers' bars are by virtue of their positive notoriety more/most likely to command a premium when buying or selling?
theknowitalltroll;
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JM, Engelhard will carry a premium and will be the most 'common'. For instance, 1 oz bars from RCM also carry a premium (typically more than the previous two), but are seldom seen for sale, at leasty in my neck of the woods.
Most of the B&Ms and show dealers I work with would charge slightly more for JM/Engelhard and slightly less for anything else. In their eyes, pretty much everything else is 'generic'.
<< <i>Can I ask why do people pay more for new bars made by one company over another?In the end as long as its "real silver" who cares whos name is on it! I dont see the point in paying more for a name on new bars and or rounds. >>
because most "pm investors" are really collectors, who want to be able to gaze upon the shape the metal is in. This results in some forms of silver carrying "premium" both buying and selling. The premium can take the form of a little more per ounce (or a lot more) or in increased liquidity, or both.
Liberty: Parent of Science & Industry
<< <i>Can I ask why do people pay more for new bars made by one company over another?In the end as long as its "real silver" who cares whos name is on it! I dont see the point in paying more for a name on new bars and or rounds. >>
If the name on it is Bozo's Silver Shoppe do you really trust it to be 0.999 fine? My point is outside of a big name, how can you know to trust it?
really close by, also as for generics he charges the same as he charges for
JM's and such, I bought 4 consecutive SN JM's 1 OZer from him not to long ago,
but of course its first come first serve, He only charges and pays a premium
on ASE's
Steve
APMEX (I believe they contract out with someone to make their bars)
OPM (Ohio Precious Metals specializes in recycled silver and gold)
Academy
Monarch Precious Metals
Silvertowne
Prospector Gold and Gems
Jackson Precious Metal
etc
Check APMEX's web site---they list numerous maunfacturers and they are all reputable firms.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I'm not a bullion connoisseur, so I really am not sure the best way to advise him.
<< <i>Thanks for the responses. Someone asked me about the best place to buy silver bars close to spot. He was thinking of pawn shops. If he buys a 10 ounce bar from a pawn shop, what are his chances of getting screwed?
I'm not a bullion connoisseur, so I really am not sure the best way to advise him. >>
His chances of getting screwed are greater than if he buys at an established b&m shop. Simple fact.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Thanks for the responses. Someone asked me about the best place to buy silver bars close to spot. He was thinking of pawn shops. If he buys a 10 ounce bar from a pawn shop, what are his chances of getting screwed?
I'm not a bullion connoisseur, so I really am not sure the best way to advise him. >>
His chances of getting screwed are greater than if he buys at an established b&m shop. Simple fact. >>
Do you mean getting screwed pricewise or buying something that isn't silver or isn't pure silver? I guess if it has to be one or the other, it's better to overpay a little for the real thing than to get a good deal on junk.
<< <i>excellent prices at tulving.com if buying 500+ ounces. I have made many PM purchases from them. >>
Actually that was my suggestion that he get a few friends together and buy 500 ounces from Hannes.
<< <i>There are many reputable silver refiners:
APMEX (I believe they contract out with someone to make their bars)
OPM (Ohio Precious Metals specializes in recycled silver and gold)
Academy
Monarch Precious Metals
Silvertowne
Prospector Gold and Gems
Jackson Precious Metal
etc
Check APMEX's web site---they list numerous maunfacturers and they are all reputable firms. >>
For smaller purchases (50 oz or less ) the above are #1. I would add Scottsdale & Provident to your list ( Scottsdale's stacker bars are made by Academy..no idea who the rest are made by)
If you are willing to pay the premium...PAMP bars are Worldwide recognizable.
I'm not a bullion connoisseur, so I really am not sure the best way to advise him. >>
His chances of getting screwed are greater than if he buys at an established b&m shop. Simple fact. >>
Do you mean getting screwed pricewise or buying something that isn't silver or isn't pure silver? I guess if it has to be one or the other, it's better to overpay a little for the real thing than to get a good deal on junk>>>
As with buying anything, know your dealer/seller. Either build your own trust with him/her or do what you're doing on here but do it locally with your local fellow hobbyists.
Talk with the dealer about what you're considering buying. I can usually tell within the first 2 minutes if the guy is gonna try and screw me or be on the up & up with me. You probably will be able to too.
<< <i>Thanks for the responses. Someone asked me about the best place to buy silver bars close to spot. He was thinking of pawn shops. If he buys a 10 ounce bar from a pawn shop, what are his chances of getting screwed?
I'm not a bullion connoisseur, so I really am not sure the best way to advise him. >>
Pawn shop equals screwed buying or selling, stay away.
<< <i>
<< <i>Thanks for the responses. Someone asked me about the best place to buy silver bars close to spot. He was thinking of pawn shops. If he buys a 10 ounce bar from a pawn shop, what are his chances of getting screwed?
I'm not a bullion connoisseur, so I really am not sure the best way to advise him. >>
Pawn shop equals screwed buying or selling, stay away. >>
Many B & M shops are just as bad. Know the market to protect yourself.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
If you just pop into a place never before visited, you may have more chances of getting more junk, less quality, goofy stories, etc. When you start to deal steady with a few shops and they get to know you, its better. But its most important to learn about what you are getting and what is out there.
I get a lot from a pawn shop. Just have to be careful to say no about something you are not sure about. Not that it is bad, but maybe not the right form.