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Reasonable Premium For Bars?

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New Member

United States
23 Posts
 Posted 07/01/2023  10:28 am Show Profile   Bookmark this topic Add rockwind1 to your friends list Get a Link to this Message Number of Subscribers
so I always thought bars were made to keep premiums down yet have been seeing some bar prices that are super high with the premium. my question is why?
another question is where can someone find a list of bars that should or shouldn't have a premium?
Valued Member
classic_coin's Avatar
United States
157 Posts
 Posted 07/01/2023  10:41 am  Show Profile   Bookmark this reply Add classic_coin to your friends list Get a Link to this Reply

Quote:
so I always thought bars were made to keep premiums down

Mostly for efficient use of space/volume for storage, but generally speaking, you're right; bars traditionally have the lowest premium.

Quote:
yet have been seeing some bar prices that are super high with the premium. my question is why?

Depends. Could be the bar itself is collectible (unusual size, defunct refiner/mint), or the seller has added a premium because they (think they) can. As for a list, I'm not aware of one, but the lowest premiums should generally come from/with large sizes from modern refiners.
Edited by classic_coin
07/01/2023 11:09 am
Pillar of the Community
United States
2217 Posts
 Posted 07/01/2023  11:47 am  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
I'm not aware of any list. Unless you buy from a local collector at spot price, chances are there will always be a premium, what you pay above spot price. Usually bars have less premium than coins. The bigger the bar, the less premium per ounce. Generally older vintage bars can have higher premiums, some collect them, like Engelhard bars which is no longer in business.

Newly minted bars should have lower premiums unless they are a special limited mintage design. The most important thing to do is check the online dealers for weekly sales, compare shop as you would buying a car, etc. Some of the online dealers I like are SD Bullion, Liberty Coin, Hero Bullion, APMEX, Bullion Exchanges, JM Bullion, Monument Metals, there are others. I also look at ebay sold prices. For example, you can see what 10 oz bars sold for by the various mints like Scottsdale, Germania, Silvertowne, Metalor, Heraeus, Britannia, etc.
Edited by livingwater
07/01/2023 12:04 pm
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United States
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 Posted 07/01/2023  12:01 pm  Show Profile   Bookmark this reply Add rockwind1 to your friends list Get a Link to this Reply
the one in particular I was surprised at was a 100oz JM with a serial number on it, (serial number started with a R) for 3200$

another was a golden state mint 10oz with a covered wagon on it for 500$
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United States
2217 Posts
 Posted 07/01/2023  12:07 pm  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
Businesses can ask whatever they want for a product. If it does not sell they may lower the price.
Edited by livingwater
07/01/2023 12:09 pm
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United States
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 Posted 07/01/2023  12:54 pm  Show Profile   Bookmark this reply Add rockwind1 to your friends list Get a Link to this Reply
@livingwater

of course,, this was on offerup. it's just that the seller told me to make an offer, so I started at spot, and he went all medieval keyboard warrior on me. to me it was just a hunk of silver
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United States
157 Posts
 Posted 07/01/2023  1:15 pm  Show Profile   Bookmark this reply Add classic_coin to your friends list Get a Link to this Reply

Quote:
to me it was just a hunk of silver

I see it the same way. Bullion is bullion to me, I don't find ingots or rounds to be collectible in any sort of numismatic sense.
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