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 Replies: 21 / Views: 3,074 |
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Pillar of the Community
United States
2269 Posts |
I recently started purchasing 1 ounce Silver bars for investment. The only three places I have purchased them was from Goldmart, APMEX, and ebay. APMEX had a good price when they had a one day special. Goldmart had very reasonable prices on 1 and 10 ounce bars. With a little patience, ebay proved to be another good place for finding inexpensive silver bars. When I say inexpensive, I am talking about 1 ounce silver bars that sell for a small premium over spot. Today I went to a coin show in hopes of finding a few good deals on 1 ounce silver bars. Out of about 30 dealers I found 2 that had silver bars on hand. The first dealer had about 8 Engelhard 1 ounce bars. His asking price was $36 each. He didn't want to budge on his price either. Considering that silver is around $29 today, he was asking for a $7 premium over spot. The second dealer had 5 Silver art bars. Nothing fancy, one was a happy birthday bar and the other ones were for a graduation and other events. His asking price was $33 each. Again he was asking for a $4 premium over spot. Needless to say, I said thank you and walked away. I couldn't understand why someone would ask $36 for a common Englehard bar. For $36 I could purchase a 2012 ASE at the very next table which usually goes for a higher premium than silver bars. My question is this; Does anyone ever find any good deals on silver bars at coin shows or is it just me?  Christopher |
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Pillar of the Community
United States
863 Posts |
Look at buy and sell stores I found a few that sell for spot or way under. They are not as pretty but still have the same silver value. I just bought a bunch of 33gthe sterling silver rounds for 13 dollar. Each
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Valued Member
United States
76 Posts |
Englehard bars are hard to find and command a substantial premium. I myself would seriously consider buying those for that price.
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Pillar of the Community
Canada
1731 Posts |
I would check your local coin store if you have one. I bought a 5oz JM bar for $32oz
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Pillar of the Community
United States
648 Posts |
That's interesting. I did find dealers at this weekend coin shows asking from 35 down to 30.50 (for Engelhard's). I thought I scored a fair deal on eight NGC MS 69 ASE's for 32 dollars each. I never pick up "numismatic silver bullion" like this but for 32 dollars, it was kind of hard to pass up. This is my first ASE's that I own which are graded as such. He also sold an Engelhard prospector for 31 dollars which I picked up from him. A few tables down, a guy was selling his few prospectors for 35 each. It's hit or miss with some dealers - but there are deals to be had. Build the relationship. Keep searching & stacking and GL. Edited by tripncoins
05/20/2012 10:02 pm
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Pillar of the Community
 United States
2269 Posts |
I wasn't looking for anything pretty, I am more interested in the silver content rather than the producer.
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Pillar of the Community
614 Posts |
Was your coin show in Clifton, NJ perchance? I was supposed to go but couldn't.
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Pillar of the Community
United States
2269 Posts |
Yes, it was the one in Clifton. I would rate the show as OK. I got a few good deals and passed on a few more.
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Pillar of the Community
United States
2269 Posts |
Tzarmarko, I didn't know you were from Fair Lawn. Coinage magazine Contributor and Author David L. Ganz resides in the same town.
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Pillar of the Community
614 Posts |
Realy? I didn't know that. I do know that the former mayor is a major coin collecter. Maybe they are the same person? I went to the show last month, it was OK. just got one coin there though.
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Pillar of the Community
Canada
572 Posts |
I had the same situation at the coin show in my city. The bullion dealers there did not bargain and asked $5 over spot for the 2012 silver maples no matter you were buying a single one or a tube. I was kind of disappointed. It must have something to do with that there are only two coin shows a year here. :(
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Pillar of the Community
United States
2269 Posts |
Tzarmarko, they are one in the same. He used to be the mayor when I worked as a seasonal employee for one of the borough pools in town. I know he is still a Bergen County Freeholder. He wears many hats.
Edited by Spider5689
05/20/2012 11:40 pm
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Pillar of the Community
United States
3670 Posts |
Fact is your just not always gonna find shows with guys giving great high dollar premium products away for a buck or two over spot. Not saying it does not happen when one seller for say needs cash bad an needs to take a loss to amass some money as it happens, but again far an few between....
Good high dollar rare old Engelhard bars will command 40 per oz. all day when silver is settin at 28 per oz. it just does not loose its value much, an many here can attest to that....
Charles Engelhard bars are the Rolex all others are compared to it seems. Be it a long trusted history or whatever....
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Pillar of the Community
United States
1554 Posts |
To answer your ?, yes, Coin Shows always have the best buys around here. Usually $1 over spot and no taxes.
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Pillar of the Community
United States
1554 Posts |
Maybe we should expect dealers to sell for $4 under spot at least?
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Pillar of the Community
United States
2269 Posts |
I understand and expected to pay a premium for anything over spot. Lately, I have been getting good deals online for up to $3.00 over spot including shipping. I guess I had high hopes of picking up a few for up to $3.00 over spot. As for Engelhard, my wallet prevents me from paying a high price for silver. I am the type of person who will choose a practical timex over an expensive rolex any day of the week. As long as it tells time, that is all I need to know. Same is true when I buy bars, as long as they are .999 silver from a reputable brand and dealer, I have no problem adding them to my collection/hoard.
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Replies: 21 / Views: 3,074 |
Posted 05/20/2012 9:54 pm
