Purchased A 374 Gram Silver Bar From Ebay.

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Author	Replies: 8 / Views: 1,408
mashisback Valued Member United Kingdom 287 Posts	Posted 12/26/2013 04:27 am How much was the maximum (in UK£ if possible) I should have paid for this? I know buying from a dealer they will have mark up, also, UK dealers have to charge 20% vat on top too, so with this in mind I thought I got an ok price, but am interested to know what others would have paid for this? Report this Post to the Staff

zxcccxz Pillar of the Community Canada 5417 Posts	Posted 12/26/2013 05:20 am Well for do the math. Assuming its a pure silver bar. 374/31.1 = 12 Troy Ounces of silver. 12 x current spot [19.45] = $233.4 + 5% premium = $245 + 20% VAT = $294. At current trading rates $294 USD = £180. So by my accounts you should have paid no more than £180 plus shipping. Report this Post to the Staff
peter1234 Pillar of the Community United Kingdom 1351 Posts	Posted 12/26/2013 05:40 am I was going to suggest anywhere between 45p and 50p per g.(pure silver)for selling. Maybe a bit of premium if buying. Report this Post to the Staff
mashisback Valued Member United Kingdom 287 Posts	Posted 12/26/2013 05:43 am Thanks ZX http://www.ebay.com/itm/Silver-Ingo...p=true&rt=nc Works out £152 delivered, .999 silver. I guess my only worry then would be to know its not a block of other metal with silver on top. Is there a way of knowing this? Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 12/26/2013 05:46 am XRF - X ray florescence testing. Report this Post to the Staff
mashisback Valued Member United Kingdom 287 Posts	Posted 12/26/2013 05:49 am Thanks peter too. Based on what you said, I think I worked it out to 40p per gram I paid. So I probably would break even if I resold straight away, (after ebay fees and post etc.) But I think its a good price to get it at with the intention of stocking up and hoping the market gets going again Thanks Report this Post to the Staff
mashisback Valued Member United Kingdom 287 Posts	Posted 12/26/2013 06:05 am Hi Sel, I just had a look at this. It appears that it costs about £10,000 for this machine. I would be surprised if I built up a 10k collection of silver in total. Is this basically the only way? I would have thought with technology now days that there would be a cost effective way of checking? Quite a gamble then when buying from anyone bar a dealer? Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 12/26/2013 07:20 am You could pay to have your silver bar tested commercially. I understand that the test doesn't cost much. Report this Post to the Staff
peter1234 Pillar of the Community United Kingdom 1351 Posts	Posted 12/26/2013 07:35 am Mashi You did well if it is silver. My local scrapper will pay between 45p and 50p per gm. My last deal was 45p for sterling (92.5%)but silver has dropped a bit since. Report this Post to the Staff
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