Options
Old Gold Engelhard Bars Question
Proofmorgan
Posts: 715 ✭✭✭✭✭
Lately I have found a few old pour Engelhard bars that have come to market. They seem quite rare, but there is very little movement/sales data to tell me what these are really worth. With current spot prices the 5 oz bars are listed at $1500 an oz. 2 oz at $1300 an ounce and 20 oz at $1175 an ounce. The 20 oz seem like a bargain and very rare since I've never seen one. But does the liquidity suffer because of the weight or does the rarity balance it out? You really don't see these very often.
Seems strange but more of these are surfacing with the drop in price. Are people afraid and selling off? For the most part it seems like there is a lot of buying.
Which would you purchase? Are they even worth getting into?
Seems strange but more of these are surfacing with the drop in price. Are people afraid and selling off? For the most part it seems like there is a lot of buying.
Which would you purchase? Are they even worth getting into?
Collector of Original Early Gold with beginnings in Proof Morgan collecting.
0
Comments
For sure the 20 oz isn't worth much more than spot, the 5 oz there is none worth that per oz...
The 2 maybe cheap, or ballpark...
In regards to the 5s (very pricey). One is an Engelhard London, sold by a bullion company at about $7800 on eBay. The other is $7500 and comes with the original certification (neat). Also on eBay.
Edited to add: Upon further review, I think I did see a 20 oz'er one time.
[URL=http://s71.photobucket.com/user/1989_Fleer_Bill_Ripken_Collector/media/engelhard100oz.jpg.html]
Got it for kicks.
As gold rose, it became obvious that BARS are NOT all that salable.
Dumped it and sticking with ounce coins. Don't even want ounce bars.
Bars are tough sellers in any quantity. Coins? Can move 100 or 1000 in a phone call.
<< <i>I had a 10 oz bar for a while.
Got it for kicks.
As gold rose, it became obvious that BARS are NOT all that salable.
Dumped it and sticking with ounce coins. Don't even want ounce bars.
Bars are tough sellers in any quantity. Coins? Can move 100 or 1000 in a phone call. >>
This is an important point. At $300-$400 gold novelties are cute. At $1150-$1250 gold the pucker factor increases exponentially.
For 20 years while I was at Harlan Berk I had a serious collector for anything different in gold bullion. We gave him first shot at stuff and never gouged him, and if he did not have it he would always take it. We did get a fair collector premium on good stuff.
Then gold moved up to $1,000 an OZ. and he decided to sell. BTW, the collection was approx. 3,800 ounces! We tried selling the good stuff for him at a premium on a split the premium basis, and we couldn't sell anything at a premium in that gold market. Too many people thought it was going back to $500-$600. Most of the collection got melted, though I saved a few things personally from the melting pot like the two 10 OZ. Englehards I sold earlier this year after the premium recovered sufficiently.
<< <i>Then gold moved up to $1,000 an OZ. and he decided to sell. BTW, the collection was approx. 3,800 ounces! >>
dang
Most of the collection got melted...
dang again
Too many positive BST transactions with too many members to list.
<< <i>
<< <i>Then gold moved up to $1,000 an OZ. and he decided to sell. BTW, the collection was approx. 3,800 ounces! >>
dang
Most of the collection got melted...
dang again >>
A lot of it was just bullion, such as a variety of bars from many different European refiners with every size that they ever issued, such as a 1000 gram, 500 gram, 300 gram, 200 gram, 100 gram, 50 gram and maybe smaller from each refiner.