has anyone bought or owned a 1,000 oz silver bar?

KollectorKing

pros & cons vs 100 oz bars?

coinpalice

storage might be a problem, and weak floor boards

EagleEye

I had one for the longest time. They are very hard to sell.

Smudge

Good for bragging rights, but not practical.

VanHalen

....and I thought 100ozers were too big. 1000ozs? I'd have trouble even moving the damn thing.

PerryHall

@EagleEye said:
I had one for the longest time. They are very hard to sell.

Also they're very hard to move due to their weight.

CCC2010

On the plus side you will always win the bet when you say " Mine is much bigger than yours..."

MorganMan94

@EagleEye said:
I had one for the longest time. They are very hard to sell.

Out of curiosity, was the reason you had it for the longest time because you couldn't find a buyer for that size or because you were holding it and it was NFS?

CuKevin

@MorganMan94 said:

@EagleEye said:
I had one for the longest time. They are very hard to sell.

Out of curiosity, was the reason you had it for the longest time because you couldn't find a buyer for that size or because you were holding it and it was NFS?

I’m certain it was couldn’t find a buyer. It can be tough with 100 oz even.

ricko

Wow... over 68 lbs. I can understand why it would be difficult to sell...Probably to a bulk plating operation... but even they prefer the smaller 'nuggets' for the operation...Cheers, RickO

cohodk

@CuKevin said:

@MorganMan94 said:

@EagleEye said:
I had one for the longest time. They are very hard to sell.

Out of curiosity, was the reason you had it for the longest time because you couldn't find a buyer for that size or because you were holding it and it was NFS?

I’m certain it was couldn’t find a buyer. It can be tough with 100 oz even.

Hard to believe the market is so thin that even a $2000 investment would be difficult.

Mission16

Bought one several yrs ago and shipped it out the next day. Too much $$ to show off.
I remember at the Albany show many years ago, the dealer next to my fathers table(( Andy Cooper- Upstate Coin?) had 5 of them sitting on the floor

asheland

100oz is as large a bar I would ever care to own. The 1,000oz is almost impossible to carry around.

Insider2

Here is a funny (?) story and my only contact with one of these things. I was working for a coin dealer at the height of the silver boom. I sold one of these bars to a Russian lady who came into the Gallery. About four days later the market crashed. About a month later. we passed on the street and she gave me such a glare that it actually scared me. For the following year or two, every time we passed going to or from work I got that same "look."

MorganMan94

I did see one on my local Craigslist awhile back (actually it was 989 ounces and stamped but close enough). They were asking 60 cents back of spot and I don't think it ever sold.

EagleEye

@MorganMan94 said:

@EagleEye said:
I had one for the longest time. They are very hard to sell.

Out of curiosity, was the reason you had it for the longest time because you couldn't find a buyer for that size or because you were holding it and it was NFS?

Couldn't ship it at a reasonable price. No local would buy it unless at 95% of melt.

BAJJERFAN

Too bad that they don't pour them into a different shape [like square] to make use of flat rate priority boxes. Same cold be said for monster boxes for ASEs.

Timbuk3

Nope, not me !!!

KollectorKing

@Insider2 said:
Here is a funny (?) story and my only contact with one of these things. I was working for a coin dealer at the height of the silver boom. I sold one of these bars to a Russian lady who came into the Gallery. About four days later the market crashed. About a month later. we passed on the street and she gave me such a glare that it actually scared me. For the following year or two, every time we passed going to or from work I got that same "look."

here she is:

then & now

Insider2

Actually, the first image is very close - both hair and figure. I was flitting with her while selling the bar. Obviously, I'll never forget her scowl that came later.

Downtown1974

No interest in ever obtaining one of those. Cool....yes, practical.....not so much.

1630Boston

I have not owned one. it would be a great conversation piece.
But considering the fact that 1 cubic inch of gold has the value of 150 cubic inches of silver, I would opt for the gold if all of that money had to be in a single chunk of metal. JMO

If all the gold ever mined was melted into a solid cube,
the cube with would have sides of about 60 feet. ??

blitzdude

@KollectorKing said:
pros & cons vs 100 oz bars?

Con is all the extra $$$ you are out when you realize you bought 1000oz of silver plated lead. lol

giorgio11

@KollectorKing said:
pros & cons vs 100 oz bars?

Fewer but more severe hernia surgeries ...

Kind regards,

George

Jinx86

Have you ever smashed your finger between hundred ounce bars?
I could just imagine the agony I would be in after a thousand dropped on my finger.
As a dealer I hate them, mostly as @EagleEye stated shipping is a nightmare.

Coulport

There was a time in the 90's that silver supplies were tight and one of the local dealers had some to keep his inventory even. They sold some but as supplies increased, the 1000 ozers were sold to a private mint to make rounds. The shop would put one out on the counter and tell customers if they could pick it up with one hand they could have it. Never had to give one away.

DoubleEagle59

Oh yea, I've owned one before.

My dream is to own a 1000 oz gold bar but as I said, it's a 'dream'.

Mission16

@DoubleEagle59 said:
Oh yea, I've owned one before.

My dream is to own a 1000 oz gold bar but as I said, it's a 'dream'.

Wow! Is that even a thing? I have seen a 100oz and held a 10oz, that was a cool experience.

DoubleEagle59

@Mission16 said:

@DoubleEagle59 said:
Oh yea, I've owned one before.

My dream is to own a 1000 oz gold bar but as I said, it's a 'dream'.

Wow! Is that even a thing? I have seen a 100oz and held a 10oz, that was a cool experience.

Actually, I think the large gold bars are 400 ounces, not 1000 ounces, but I'm probably wrong as I really haven't ever looked into it for obvious financial reasons.

Weiss

So cool but so entirely impractical.

If you're going to own a 1,000 oz bar, spend the extra $25k and buy one like this 1200 oz bar from 1622, recovered from the Atocha. It's on eBay right now for $49,950:

KollectorKing

@DoubleEagle59 said:

@Mission16 said:

@DoubleEagle59 said:
Oh yea, I've owned one before.

My dream is to own a 1000 oz gold bar but as I said, it's a 'dream'.

Wow! Is that even a thing? I have seen a 100oz and held a 10oz, that was a cool experience.

Actually, I think the large gold bars are 400 ounces, not 1000 ounces, but I'm probably wrong as I really haven't ever looked into it for obvious financial reasons.

"The world's largest gold bar stands at 250 kg (551 lb), measuring at the base 45.5 cm × 22.5 cm and 17 cm high with 5 degree draft angle (equal to 15,730 cm³, or 17.9 in × 8.9 in × 6.7 in ≈ 1062.04 in³). It was manufactured by the Mitsubishi Materials Corporation, a subsidiary of Mitsubishi."

8816 oz

AUandAG

I know a rancher in Montana that uses one for his barn door, Keeps the wind from screwing with the door.

bob

johnny9434

i think ill stick with the smaller stuff for now

1630Boston

Interesting @Weiss
1200 oz troy makes that a 100 Troy Pound bar.....nice even number they used back in the day

1630Boston

The roman numerals on that bar MCCCLXXX = 1380 ?

1630Boston

A little OT but Weiss's post got me to thinking about those large Spanish bars

Atocha Silver Bars

The Spanish galleon Nuestra Senora de Atocha, struck a reef and sank near the Florida Keys on September 6, 1622, during a raging hurricane. Mel Fisher and his company Treasure Salvors, Inc., discovered the main wreck site on July 20, 1985 and ultimately recovered a huge amount of treasure.

Approximately one thousand silver bars weighing between sixty and seventy pounds were listed on the Atocha's manifest when it sank. The majority of the ingots were the property of individuals, although one hundred thirty-three bars, shipped in thirty-four boxes and marked with a red crown belonged to King Philip IV himself.

Many Atocha silver bars were mined and processed in Potosi, now in present day Bolivia, and hauled great distances to Portobello, a Caribbean port in what is now the Republic of Panama. The cargo was then loaded onto the Atocha; each item registered as it was brought aboard. During processing, each bar was struck with a serial number and various monograms indicating the owner or shipper. The mint's assayer would then remove his "bite", a small piece that was tested to determine the purity of silver. Once purity was established, the ingot was struck with the "Ley" or fineness number, typically 2380 out of a possible 2400 or 99.2% pure. All bars not belonging to the king were also struck with one or more tax stamps indicating the 20% royal tax "Quinto" was collected. Some bars were dated.

jdimmick

I had one late last year. I got a call from one the owners of a local resort in SC, actually it was an heir to the original owner, used to bring a lot of gold and silver up to me. He called a bout a 1000 oz bar of silver, I had to shop around and find a buyer, so he could sell it at a fair price. Unknowingly, I called and locked it in, and when he delivered , I was so upset, it was a Johnson co bar manufactured in the 40's before partnering with mathey. Neatest thing I had ever seen, would have possibly liked to have kept it, but couldn't due to locking it in with refinery. If I remember is was stamped like 997.9oz or something like that.

Weiss

Dude, that sucks. Don't suppose you took pictures?

thefinn

I worked at a mint/pm seller where we sold 41 RCM 1,000 oz. bars to a customer. Two pallets loaded into the back of a 2-ton truck with a fork lift. Serious investor that wanted the big bars because of the lower premium. Wait till he tries to sell them.

jdimmick

Weiss, I had a picture of the bar on my phone for the longest time, let me see if I can find it somewhere, and Ill post it

ChrisRx

@thefinn said:
I worked at a mint/pm seller where we sold 41 RCM 1,000 oz. bars to a customer. Two pallets loaded into the back of a 2-ton truck with a fork lift. Serious investor that wanted the big bars because of the lower premium. Wait till he tries to sell them.

That's impressive. What was the price of silver at the time?

thefinn

@ChrisRx said:

@thefinn said:
I worked at a mint/pm seller where we sold 41 RCM 1,000 oz. bars to a customer. Two pallets loaded into the back of a 2-ton truck with a fork lift. Serious investor that wanted the big bars because of the lower premium. Wait till he tries to sell them.

That's impressive. What was the price of silver at the time?

Right around $20, maybe just under. Would have been in 2014.

cohodk

@jdimmick said:
I had one late last year. I got a call from one the owners of a local resort in SC, actually it was an heir to the original owner, used to bring a lot of gold and silver up to me. He called a bout a 1000 oz bar of silver, I had to shop around and find a buyer, so he could sell it at a fair price. Unknowingly, I called and locked it in, and when he delivered , I was so upset, it was a Johnson co bar manufactured in the 40's before partnering with mathey. Neatest thing I had ever seen, would have possibly liked to have kept it, but couldn't due to locking it in with refinery. If I remember is was stamped like 997.9oz or something like that.

I would have grabbed 10 100 ozers to give to refinery.