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What do I need to look for in bars on Saturday....

AUandAGAUandAG Posts: 24,764 ✭✭✭✭✭
in Precious Metals
Here's the deal. I live in a retirement community. A retired MD passed and his kids just found 500 ounces of
silver bars in the filing cabinet. It appears that he sent in batches of old X-rays as they accumulated over a
50 year period. Had them melted into bars. Odd sized like 107 tr oz in one bar (only big bar).
Will probably have a chance to view and perhaps buy. But, don't have a clue as to what to look for. Any tips
would be greatly appreciated.
bobimage
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com

Comments

  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Not at all an expert, but the few bars I've seen that were identifiable as photographic silver recovery bars were crude, uninteresting, and didn't command any kind of premium. Bland, poured bars with purity and weight written in marker on the bars themselves.

    Wouldn't be surprised to find that they'll need to be smelted and/or traded for something more marketable.

    That said: Definitely watch for anything stamped with good graphics or recognizeable names--especially in unusual sizes and shapes.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • CoulportCoulport Posts: 1,087 ✭✭✭
    You might be looking at a discount of 15% or more off spot on unidentified bars or questionable purity.
    The most money I made are on coins I haven't sold.

    Got quoins?
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    Thread Title: What do I need to look for in bars on Saturday....

    image + wimmen
  • AUandAGAUandAG Posts: 24,764 ✭✭✭✭✭


    << <i>Thread Title: What do I need to look for in bars on Saturday....

    image + wimmen >>



    Crap, I blew that, 'eh? Too old to think like going to bars for wimmen anymore!

    bobimage
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • UnknownUnknown
    This content has been removed.
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
    I pass on any bar without the name and logo of the maker and an indication of fineness and weight stamped into the bar. If I don't recognize the name of the maker, I'll do a web search to see if it's made by a legitimate company. No name bars don't interest me as they will probably have to be sold to a refinery who won't pay until it's been melted and assayed.

    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

  • CaptHenwayCaptHenway Posts: 32,156 ✭✭✭✭✭


    << <i>

    << <i>Thread Title: What do I need to look for in bars on Saturday....

    image + wimmen >>



    Crap, I blew that, 'eh? Too old to think like going to bars for wimmen anymore!

    bobimage >>



    Yeah, you left yourself WIIIIIIIDE open on that one!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CaptHenwayCaptHenway Posts: 32,156 ✭✭✭✭✭


    << <i>Here's the deal. I live in a retirement community. A retired MD passed and his kids just found 500 ounces of
    silver bars in the filing cabinet. It appears that he sent in batches of old X-rays as they accumulated over a
    50 year period. Had them melted into bars. Odd sized like 107 tr oz in one bar (only big bar).
    Will probably have a chance to view and perhaps buy. But, don't have a clue as to what to look for. Any tips
    would be greatly appreciated.
    bobimage >>



    Need to be re-refined and marked by a known refiner. Offer to broker the lot to a refiner for them for a 1 or 2% commission of the net proceeds and be done with it.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    I would be looking for a good time and some easy listening. The bars are just an added benefit to 'HISTORY' (His story)... Because he who cared , also cared for people.
    The risk is pointed out by Perry. Without refinement , a stamp, or a legitimate assayer's guarantee... the percentages drop fast on the weight. But, this is BUYING OPP 101. in my humblest opinion. TGIF
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