San Francisco Mint 26.36oz Silver Bar Circa 1950's - What kind of premium (if any)?

BustHalfBrian

I've handled a couple of these San Fran Mint bars over the past couple of years - one featured in this thread - but the ones I've handled prior to this one weighed anywhere from 5 to 6 ounces.

This bar also differs from the others I've handled in that it has the number "164" stamped on the edge - perhaps a serial number?

I haven't been able to find any records of a San Fran Mint bar of this size (or anything over 10oz for that matter) selling at auction.

The smaller bars I sold prior to this one ended up being worth a substantial premium, but is a bar this large (with the Silver value alone already being as high as it is) worth any considerable premium?

Any info provided is greatly appreciated Thanks

stealer

Bump...inquiring minds want to know

RichieURich

I believe it is still worth a substantial premium over its silver content. At least, I would certainly pay a sizeable premium for it.

A very cool item!

Unknown

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TwoSides2aCoin

it is equal to _ _ American Silver Eagle bullion coins.

daOnlyBG

I have only limited experience with these, but to give you an idea of the premium, the ones I've seen were going for $130-300/oz

Meltdown

It should still command a hefty premium. I've seen 50 & 100ozers go for quite a lot.

I'm no expert, but the eagle on yours does look a little bit strange. - Maybe it's just much better struck than any others I've seen but the detail looks quite good. I wonder if these are possibly being faked?

3keepSECRETif2rDEAD

...it is Beautiful piece and certainly belongs in a museum for sure!

Erik

BustHalfBrian

<< <i>It should still command a hefty premium. I've seen 50 & 100ozers go for quite a lot.

I'm no expert, but the eagle on yours does look a little bit strange. - Maybe it's just much better struck than any others I've seen but the detail looks quite good. I wonder if these are possibly being faked? >>



Someone mentioned in the thread that I linked in the OP that these bars have been faked. Another reason why I'm posting here - in hopes someone can confirm it is authentic.

Just did a Google search and found this bar that sold for $2,300 at a Goldberg in 2011, but still weighing 8 ounces less than mine. I'd like to know how the Mint determined in what increments of weight to produce the ingots, because they vary so much!


auction

stealer

I would wager that the mint took whatever scrap (i.e. obsolete coinage) silver/gold they had and melted it into these ingots. I know they used to allow people to exchange old coinage for new coinage to take out the older money from circulation, much like how banks are legally liable to turn all old bills over to the Fed to be shredded.

BustHalfBrian

<< <i>I would wager that the mint took whatever scrap (i.e. obsolete coinage) silver/gold they had and melted it into these ingots... >>



Why wouldn't they just make new coins from the scrap Silver?

I mean, they're the Mint - they make coins... with monetary value

Meltdown

As I understand it, private folks were able to drop off and have their sterling or misc silver assayed and poured into bars - whatever weight they ended up with as .999 silver was what they received. That's why the weights are all over the place.

stealer

<< <i>As I understand it, private folks were able to drop off and have their sterling or misc silver assayed and poured into bars - whatever weight they ended up with as .999 silver was what they received. That's why the weights are all over the place. >>


That makes sense. Having the emblem of the San Francisco Mint imprinted on the ingot probably added security and truth to the said weight of the bar.

BustHalfBrian

<< <i>As I understand it, private folks were able to drop off and have their sterling or misc silver assayed and poured into bars - whatever weight they ended up with as .999 silver was what they received. That's why the weights are all over the place. >>



Woah, now that's interesting! And explains why the weights vary so much.

Very, very cool info. Thanks

3keepSECRETif2rDEAD

This is a cool thread for sure, very interesting indeed. If authentic and if a regular person brought their scrap to the SF mint and they (the U.S. mint in SF) melted & assayed it, and then stamped their approval for assurance... That pretty much will never happen again and is very cool, a real piece of history just begging to be recognized and showed off

Erik

STONE

Check out Heritage archives. I know several have sold there...a friend of mine sold his there!

And yes, a substantial premium should be accrued over spot silver price!

Tookybandit

Oh Phoey! ...now I want one

coindudeonebay

<< <i>

<< <i>As I understand it, private folks were able to drop off and have their sterling or misc silver assayed and poured into bars - whatever weight they ended up with as .999 silver was what they received. That's why the weights are all over the place. >>

That makes sense. Having the emblem of the San Francisco Mint imprinted on the ingot probably added security and truth to the said weight of the bar. >>

Didn't they also give this silver bars to people who handed in their silver certificates? I remember reading that somewhere and I believe there should be a couple of members here who are wiser than me and might have actually taken advantage of that trade-in.

coinsarefun

<< <i>Oh Phoey! ...now I want one >>





Me too !!

CoinZip