OPM 1 kilo silver bar
SillyAG35
Posts: 1 ✭
I bought a 1 kilo OPM silver bar a number of years ago. I'm thinking about selling it but discovered that OPM was involved in some nefarious activities and the major buyers no longer handle OPM's products. Any suggestions?
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Comments
The silver content of the bar is what counts. Your bar is most likely OK in that regard, but should be examined regardless.
The OPM brand bars do not commend a premium like Engelhard and vintage bars.
Most bullion dealers would buy your OPM bar at the right price. I don't think OPM bars are being made any more, so that is why major bullion dealers no longer "handle" them (except when they buy a bar like yours from the general public).
Best bet is to find a local shop that can test the bar for weight and purity. They will probably sell it to a refiner, so expect to be offered less than melt. I wouldn't sell it to an unknown third-party as they may come back even if you disclose the issues with those bars. Since you don't know what you have, you are asking someone to buy a pig in a poke.
OPM (Ohio Precious Metals) got swallowed up, like NTR (North Texas Refinery) . both are now part of Elemetal. ( my understanding) Kilo bars don’t move easy. There is no premium. ,in fact expect about 95% of spot. Taxmad gave accurate info.
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