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A great buy on silver this evening ........

condorcollectiblescondorcollectibles Posts: 119 ✭
in Precious Metals
A local dealer whom I've dealt with on numerous occassions over the past 12 years must have been in a "liquidating" mood tonight. Stopped by his shop after close today just for a casual visit and to say hello and walked out with (2) - 10 oz silver APMEX bars for $360 total, which comes to $180 a bar. At the time of purchase, as can be assumed, this was well below the then current spot price for silver bullion !!!!! As is, he usually gives me great deals around the holidays but never this early and at such a steep discount. Needless to say I thanked him dearly (a few times)........ Just for the record it should be known that the gentleman has always, and still carries, a HUGE inventory of silver so Im sure he wont miss these 2 bars (not to mention the fact that, even at that price, Im sure he still eeked out a small profit). Anyhow, has anyone else here experienced such an act of kindness from a dealer, friend, or fellow collector with regard to a sale ?................ Im sure some of you have so lets hear it!
Condor

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    PerryHallPerryHall Posts: 45,420 ✭✭✭✭✭
    I've bought silver bars at melt but never that far below melt. You did quite well. image

    Worry is the interest you pay on a debt you may not owe.

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    mariner67mariner67 Posts: 2,746 ✭✭✭
    Nope, has not happened to me!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
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    rickoricko Posts: 98,724 ✭✭✭✭✭
    A very fortunate encounter... Cheers, RickO
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    OPAOPA Posts: 17,104 ✭✭✭✭✭
    Early "thanks for your business over the years" Christmas present? or
    caveat emptor. I hope they don't look like the ones below

    fake 10 oz APMEX bars
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    DrBusterDrBuster Posts: 5,306 ✭✭✭✭✭
    What's the general rule, if it's a bar in a hard plastic case it's bogus? I thought that was the consensus on all these alibaba and the 40 thieves bars.
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    jdimmickjdimmick Posts: 9,596 ✭✭✭✭✭
    Either he was one h of a good friend as you mentioned, or needed to raise cash in a quick hurry!!
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>What's the general rule, if it's a bar in a hard plastic case it's bogus? I thought that was the consensus on all these alibaba and the 40 thieves bars. >>



    10 4
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>Early "thanks for your business over the years" Christmas present? or
    caveat emptor. I hope they don't look like the ones below

    fake 10 oz APMEX bars >>



    The link opens up to fake 1 oz APMEX bars.
    Geez....fake 1 ozers!
    I guess nothing is sacred anymore if they are faking 1 ozers!
    I guess I have to think of sticking with ASEs only(easier to authenticate for me anyway).
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
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    BaleyBaley Posts: 22,658 ✭✭✭✭✭
    When I was a kid (~1977) I was in the local coin shop one Saturday, and this old timer came in to sell his 1921 Morgan dollar keychain, he took the cash offer of maybe 7 or 8 bucks.

    After he left, the coin shop owner handed it to me, with a "right place, right time" comment. I still have it, it's almost 100 years old and has had 3 owners, the middle one for about a minute.

    Liberty: Parent of Science & Industry

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    KeithinMDKeithinMD Posts: 328


    << <i>What's the general rule, if it's a bar in a hard plastic case it's bogus? I thought that was the consensus on all these alibaba and the 40 thieves bars. >>



    So there are no other marks to identify a APMEX fake except it may be in a plastic case? The crooks would quickly remove the case and eliminate that problem. IMO, the coin and bullion market will eventually tread in difficult waters given the number and quality of fakes that continue to hit the market. I know many will say they can spot the fakes from 100 yards, but technology gets better every day.

    Oh by the way, I'm Keith and have been a lurker on the PM forum for some time and have enjoyed everyone's contributions - even the guys short PMs.
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    DrBusterDrBuster Posts: 5,306 ✭✭✭✭✭


    << <i>

    << <i>What's the general rule, if it's a bar in a hard plastic case it's bogus? I thought that was the consensus on all these alibaba and the 40 thieves bars. >>



    So there are no other marks to identify a APMEX fake except it may be in a plastic case? The crooks would quickly remove the case and eliminate that problem. IMO, the coin and bullion market will eventually tread in difficult waters given the number and quality of fakes that continue to hit the market. I know many will say they can spot the fakes from 100 yards, but technology gets better every day.

    Oh by the way, I'm Keith and have been a lurker on the PM forum for some time and have enjoyed everyone's contributions - even the guys short PMs. >>




    Hi Keith

    Check the ribbon leftwing overlap and then the shaping of it under the right vs one on apmex site. Without a fake one in-hand that's the best I can do on the zoom photos. Sloppy and no liberty text.

    I have a few apmex rounds with that same eagle, can peek when I get home and see if I notice anything else.


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    KeithinMDKeithinMD Posts: 328
    Thanks DrBuster. I guess I will need to build a cheat sheet to remember all of the identifiers there are with regards to fake bullion. Too many to mentally track, at least for me.
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    fiveNdimefiveNdime Posts: 1,088 ✭✭


    << <i>The link opens up to fake 1 oz APMEX bars.
    Geez....fake 1 ozers! >>


    the 1oz fakes say "1 troy ounceS"
    BST transactions: guitarwes; glmmcowan; coiny; nibanny; messydesk
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    condorcollectiblescondorcollectibles Posts: 119 ✭


    << <i>Early "thanks for your business over the years" Christmas present? >>



    Im sure that was probably it as I do transact a lot of business with him (both personal and referrals) in addition to being a good friend. Also, as a rule, I ALWAYS spend a few extra bucks at the jewelers to have ALL raw metals that I purchase (5 oz or more) tested for purity and authenticity. Call me paranoid but it helps me sleep at night. As is, I just had the 2 10's checked out and as suspected they were legit (not that I didnt trust my friend, but again its just standard practice with me, especially nowadays with all the rampant counterfieting in the market).

    Condor
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    tincuptincup Posts: 4,771 ✭✭✭✭✭
    Out of curiosity... what method was used to test these?
    ----- kj
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    condorcollectiblescondorcollectibles Posts: 119 ✭


    << <i>Out of curiosity... what method was used to test these? >>



    I dont have it done often so Im not sure of the EXACT method used but the jeweler did inform me that he would have to remove some "dust" shavings from each bar to get a "Fair" assessment of the bars surface only. He also stated that a "complete" sample would consist of "drilling" out the bar to sample the middle. He gave me other options which were more expensive for testing without drilling but I just opted for the basic shavings test. Next time I go I will inquire on the details and let ya know. Now you got me curious ........ Thanks for asking image
    Condor
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