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Silver In Ingots Or In Circulated Coin

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Author Previous TopicReplies: 6 / Views: 1,190Next Topic  
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Nic's Avatar
Philippines
1156 Posts
 Posted 09/13/2012  10:43 am Show Profile   Bookmark this topic Add Nic to your friends list Get a Link to this Message Number of Subscribers
Having collected some troy ounces of silver in various world silver scrap coins (G & below), I have to ask, which is a beter storage format, melted into 5 ounce silver ingots or left as-is as coins?

I like ingots, as it is easier to carry around, but I read somewhere theres a credibility factor on silver purity when silver ingots are home made.

so perhaps better to leave alone as coins?
I plan to resell as bullion

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starbuxinvestor's Avatar
United Kingdom
616 Posts
 Posted 09/13/2012  10:47 am  Show Profile   Bookmark this reply Add starbuxinvestor to your friends list Get a Link to this Reply
How much faith would you have in someone else's homemade ingots? That should help answer your question.
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unholyroller's Avatar
United States
1903 Posts
 Posted 09/13/2012  11:23 am  Show Profile   Bookmark this reply Add unholyroller to your friends list Get a Link to this Reply
National currency is always recognised as guaranteed purity to whatever level that country was making at the time of issue. Homemade ingots have no recognised reliability of purity or content. Look at it in this light....even in the Philippines you would be comfortable buying pre-65 U.S. coins as you know they are 90% silver...but let's say someone offered you a bunch of Ivory Coast "silver dollars"....how would you know the actual ( if any ) silver content if those coins without research on your part. Now take it a step further....someone offers you a bunch of "People's Republic of Atlantis silver dollars". You have no way to research these at all ( like homemade ingots )... so unless you pay to have them assayed....you can't know what the silver content is. So you either have to pay ( handsomely at that ) to have an assay done....or rely on luck. Always go with the path of least confusion....certified and recognised silver is always the best way to go.
Edited by unholyroller
09/13/2012 11:24 am
Valued Member
colu41's Avatar
United States
376 Posts
 Posted 09/13/2012  12:23 pm  Show Profile   Bookmark this reply Add colu41 to your friends list Get a Link to this Reply
I make sterling silver bars and have made awesome sales on ebay. I stamp all my bars with exact weight, and the purity in which were melted. Most likely when melting a silver, it will be slightly more pure then it was before but thats not guaranteed.

If youre worried about reselling, acid test each one and take a pic of it with the acid being the correct color.

Buy a cheap stamp kit on Amazon. Got mine for $12.

If you are honest, and test each one and they pass for whatever purity, then you will have no problem selling. In my experience I've made bigger premiums on my homemade bars than if I would have sold the pieces as is.
Edited by colu41
09/13/2012 12:26 pm
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Namachieli's Avatar
United States
2120 Posts
 Posted 09/13/2012  2:18 pm  Show Profile   Bookmark this reply Add Namachieli to your friends list Get a Link to this Reply
Eh, Weight and volume doesn't change much, so I would leave as is.
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Nic's Avatar
Philippines
1156 Posts
 Posted 09/14/2012  4:09 pm  Show Profile   Bookmark this reply Add Nic to your friends list Get a Link to this Reply
Thanks guys!

aside from unloading, One of the things that make me want to go into ingots is that the coins (below G) really look awfull, and ingots look nicer

I'll hold it off for the time being, meaning the coins stays as is
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Ed_B's Avatar
United States
4008 Posts
 Posted 09/14/2012  4:26 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Yeah, considering all the fake silver and gold stuff that is out there these days, anything that improves your authenticity would be a plus IMHO. I would leave the coins as-is. The only metal that I would be tempted to melt down would be scrap jewelry, dental gold, or other odd sized silver or gold.
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