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 Replies: 11 / Views: 2,790 |
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Valued Member
United States
110 Posts |
My family inherited 3 100OZ Silver bars. My brother in law took one bar to 3 different coin dealers in San Antonio and was only offered $1.00 and $1.50 per oz. Of course I told him that is ridiculous as they are selling for more than melt on ebay. I know they are not fake because they were bought direct from Engelhard 30 years ago. All the coin dealers would say is that is the going price. I cant seem to figure out the difference between what they are telling us vs what I see on ebay. Comments welcome...... |
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Pillar of the Community
 United States
2843 Posts |
 That is ridiculous. Thievery in fact. Could they have meant $1 below spot per oz? That would actually be normal for a dealer to offer even though on ebay these do go for more than spot... Edited by BigSilver
03/30/2017 4:42 pm
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Pillar of the Community
United States
3474 Posts |
I'm sure the offer was $1.00-$1.50 below spot price per ounce.
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Pillar of the Community
Canada
1747 Posts |
sounds more logical as they would sell it just a bit over spot, so their buy price is usually just under. I think your brother in-law was confused, or did not understand what the dealer was telling him.
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Pillar of the Community
United States
3079 Posts |
Yes below spot, but being 100 T oz In this area north of Detroit the pawn shops are also discounting each 100 T oz $20. to $30.00 each because they don't seem to sell as fast. the smaller 10 and 5 t oz sell faster you might be able to get a better deal from Silvertowne or one of the other dealers in bullion that buy them you will work out and agree to a price before you send them in. Yes they take less room but they are harder to sell when needed. the smaller weights are always more liquid.
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Bedrock of the Community
United States
10982 Posts |
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Pillar of the Community
United States
865 Posts |
I really hope they meant below spot. If not, then I hope your brother in law laughed in their faces. That would be absolutely ridiculous.
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Rest in Peace
United States
17900 Posts |
Almost certainly a miscommunication.
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Pillar of the Community
United States
4211 Posts |
I am thinking also that they were offering $1.00 - $1.50 under spot.
That would be a logical offer from someone reselling the bar.
Congrats on the nice inheritances.
I would call one and confirm they were speaking about spot price.
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Valued Member
 United States
110 Posts |
Thank you for your quick replies. I agree that they may have meant $1.00 to $1.50 under spot. I am going to have to quiz my brother in law a little closer. He may have been confused although he does have a decent stack of silver.
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Valued Member
United States
379 Posts |
at my local coin shop, the going "buy" rate for the 100 oz silver bars are $100 less than spot for the bar. your communication with the buyer is almost certainly a misunderstanding, not even a dealer buyer would offer you a dollar per ounce and look you in the eye.
but then again, I have been offered $800 for a one ounce gold coin when spot was around $1,200, so, yes, there are those who will take advantage of unknowing sellers. these are frequently the "cash for gold" places. I went down the street to a real dealer and got the spot $1,200.00 approx.
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Pillar of the Community
United States
519 Posts |
So, how did this turn out? As I write this GoldmastersUSA is offering this for 100 oz bar: Quote:
One Hundred Oz Silver Bar - JM, Engelhard, Asahi, Canada $1,834.47 Of course, you have to pay shipping to get it to them in Tacoma, Wa. http://www.goldmastersusa.com/ |
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Replies: 11 / Views: 2,790 |
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Posted 03/30/2017 4:44 pm
