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Engelhard Silver Question

vprvpr Posts: 604 ✭✭✭
in Precious Metals
A 100oz Engelhard "W" series bar. Just sold for $2950. Seems like a huge premium to pay. My understanding was that 100oz E bars are pretty common and sell for near spot.

This was the only sale I found on Ebay.

What do you think? Someone overpaid? What are these really worth?

Ebay
References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.

Comments

  • PerryHallPerryHall Posts: 45,916 ✭✭✭✭✭
    Very common type and grossly over priced which might explain why it's still for sale. I can't imagine anyone collecting these bars by serial number and good luck trying to get that premium back when it comes time to sell. APMEX lists Engelhard 100 oz bars by type and their prices are full retail.

    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

  • LukeMarshallLukeMarshall Posts: 1,961 ✭✭✭✭✭
    Agreed, $1.50 - $2.50 over spot MAX...

    BST will probably give you that much on the negative side in a pinch.

    It's all about what the people want...

  • vprvpr Posts: 604 ✭✭✭
    Thanks! I was considering picking one up for about a $4 premium. Glad I posted this thread.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • PerryHallPerryHall Posts: 45,916 ✭✭✭✭✭
    The major bullion dealers (APMEX, Provident, Goldmart, etc) sell these at a good price (sometimes on sale for less than $! under spot per oz) but they are all secondary market bars and the one you get may be all hacked up. In the past I've asked them for a pic of the bar I'll actually be getting but they always say they can't and I would get whatever they grab off the shelf so it's risky ordering from those guys.

    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

  • vprvpr Posts: 604 ✭✭✭
    Just to clarify, is this the case with even the "W" series bars? I know the 10oz "W" series bars are very rare. I'm buying from a private party so I will get to see the bar before handing over the cash.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • PerryHallPerryHall Posts: 45,916 ✭✭✭✭✭


    << <i>Just to clarify, is this the case with even the "W" series bars? I know the 10oz "W" series bars are very rare. I'm buying from a private party so I will get to see the bar before handing over the cash. >>


    I personally wouldn't pay any premium for a serial number just because it started with a W and I expect most silver stackers wouldn't either.

    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

  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,352 ✭✭✭✭✭
    $2950 is way to much for a 100 oz bar with a "W" prefix.

    Few people try to extend their Engelhard type set to 100 oz bars. Those that do want them really close to the typical premium for common stuff. You do not get the same interest you would see with the smaller bars.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
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