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 Replies: 14 / Views: 9,655 |
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Pillar of the Community
United States
1304 Posts |
I am new to collecting bullion and I have a question. I received a 5oz bar of Silver yesterday. It came in a plastic case. While looking at it I noticed a scratch about a 1/2 long on one of the corners. I know its just bullion and no big deal but do you bullion collectors worry about things like this, or do you just stock it away? Thanks,  |
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Pillar of the Community
United States
667 Posts |
As a person who speculates in bullion I don't cars about scratches, spots or culls. Though normally you can get these with a lower premium. Silver is silver and basically will hold its spots price. Now there are some that like everything shiny and protected. Certainly if you are talking about a BU Morgan silver dollar as opposed to one with a big scratch there is going to be a larger spread in the value over spot. Really it depends on what and how you feel about it. Price comes into the picture if it is a high premium item with some damage too. So it is your choice if it bothers you return it, however if it is just a general common type of bar that didn't demand a high premium it is no big deal. |
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Valued Member
United States
89 Posts |
It is bar you are fine. But if bullion happens to be Panda,Eagle etc they usually sell for premium over spot and their condition will affect their resale value. Because a lot of collectors grab them from ebay hoping they can slab it and get MS68+. That is why always store your bullion coins in a coin holder (i use Air Tites). |
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Pillar of the Community
 United States
1304 Posts |
Thanks, |
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Bedrock of the Community
Australia
21786 Posts |
Examine the silver in the area of the scratch with a 10x loupe.
Do you see only one or two images of the scratch?
You will see two if the case is scratched, which is more likely, and only one image if the silver bar underneath is scratched. If the plastic case is scratched, the image of the scratch will be reflected in the surface of the silver, to give two apparent images of one scratch.
As you should know, hard clear plastic scratches very easily.
If I were to buy silver bars, they would be poured ingot bars from the molten metal, then there is no need to worry about how roughly they are stored.
There is something tactile about direct handling of a 1 kilo silver bar, and you needn't worry about dropping it; just make sure that a toe is not in the way!
OUCH!.................................(or some other expletive...)
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Pillar of the Community
Australia
7096 Posts |
A scratch on a bullion bar is a bit like a tear in a new $100 dollar note.
It still has its original value
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Valued Member
United States
318 Posts |
What condition was the sale? Previously owned? New mint in plastic? What kind of premium over spot did you pay? I would demand what I paid for. I second what sel_69l is saying. I buy shiny new mint ASE's, scuffed ASE's, private rounds, cull Morgans, 90%. I know what I am buying, and am just fine with paying the appropriate amount over spot for them. But if you are paying for a shiny new virgin piece, darn it that's what you deserve. |
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Pillar of the Community
Canada
1502 Posts |
Quote:
A scratch on a bullion bar is a bit like a tear in a new $100 dollar note.
It still has its original value original value being the price of silver. If any premium was paid for it, scratching up the bar will definitely decrease the value of that premium |
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Pillar of the Community
Australia
7096 Posts |
Why on earth would you pay a premium on a block of silver with absolutely no collector value  . What is the point in that, It is only a lump of silver bought as an investment in the silver market and not a piece of art or a limited edition item. It is bought solely is an intrinsic investment. Yet people collect Bullion coins which at a later date my indeed have a animistic premium and melt them down to make these.  After all an ounce of silver is an ounce of silver and nobody in their right mind is going to give you and extra $5 an ounce because the bar is in "mint " condition. You blokes are carrying on as if these are a collector item. I wonder how many people have silver bars that look absolutely fabulous and the aren't the full 99.99% silver content |
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Rest in Peace
United States
9104 Posts |
I had a young employee who decided to sell some beautiful odd-weight silver bars. He tried playing the "pretty" card, and I told him it didn't make any difference, they were going to be melted.
Never seen anyone have so much fun beating on silver bars on the front sidewalk.
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Pillar of the Community
United States
1304 Posts |
Thanks for all the opinions. It was a 5oz bar from Silvertowne and I paid $149.00 for it which breaks down to $29.80 an ounce with free shipping. Like I said, this is my first 5 oz bar so I didn't know whether the scratch is a big deal or not, just going to put it away. |
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Valued Member
United States
333 Posts |
There are some collectible bars, but those are usually coupled with another form of collectability. For example, the Coke Cola bars tend to keep some premium over spot to some collectors because there are a lot of Coke collectors out there.
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Valued Member
United States
89 Posts |
Well the Swiss Pamp bars sell for huge premium over spot.
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Bedrock of the Community
Australia
21786 Posts |
18 and 24 ct gold Coca Cola sovereigns have been marketed is Australia.
Strangely, although they are bullion items, they sometimes bring a significant premium at auction. I guess that it is the idea of having something unusual and maybe more valuable.
Saw a 24 ct version in a coin shop today.
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Pillar of the Community
United States
648 Posts |
Not a big deal, it just has a battle scar with some character now. Just stock away and keep on stacking.
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Replies: 14 / Views: 9,655 |
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Posted 01/07/2012 11:31 am
