My First 10 Oz Engelhard Pour Bar

Very nice bar!

Congratulations on your big step into silver buying.

Very nice! Congrats.

We are in the same boat docksfishn. I have been dreaming of getting a poured bar as well but haven't yet had an opportunity. One of the LCS doesn't deal in them, the other one has a 2 stamped APMEX Bars that have been there for months and never anything different. He says if I want an Englehard he can order me one. I would assume the price would be terrible getting it "ordered in." I would pay $3 an ounce over for a bar like you did but to pay $6 to $8 an ounce over like some places want just sounds too steep.

Here's my thinking, and folks please correct me if I'm wrong. If I pay $35 for an ASE with $30 worth of silver then I paid an extra $5 for the coin and to have silver in that form.

If I pay "$6 per ounce over" or $360 for an Englehard Bar with $300 worth of silver I paid $60 to have the silver in that form. Someone just made a big profit spread on the deal. A bar does not cost $55 more to make than a coin, in fact, it probably costs very much the same to make a 1oz bar, 10oz bar, or 100oz bar.

The fact that places charge a spread "per ounce" on pieces larger than an ounce seems disingenuous and a sales trick. The piece of silver is not divisible into ounces without destroying it. The spread on a $360 silver bar with $300 in silver in it should either be $60 or 20%. It's no different than someone saying they're charging a spread "per gram" on a 1oz coin.

*End Rant*

Not a bad price at all, good deal!