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 Replies: 24 / Views: 7,286 |
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Pillar of the Community
United States
564 Posts |
I had a guy approach me selling a 7 oz silver round bullion. It looks like real silver that someone melted into a cylinder. I am sacred to buy it because it's not stamped and has no silver content mark. I don't know if anyone has come across something like this before. Is there a way to find it's silver content? Should I just walk away? I think it's 90% coin silver guessing from how it feels and looks. The guy knows nothing about how it was made. It was in his dads safety deposit box and given to him apron his dads death. I think it's risky to buy it because who knows what is in the middle or it's purity. What would you do or offer on this silver bullion? Edited by afclassic87
08/29/2010 10:20 pm
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Moderator
 United States
6563 Posts |
Pictures by chance?
How much is he selling it for?
Any way to weigh it?
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Pillar of the Community
 United States
564 Posts |
I didn't take a picture but it looks like you put liquid metal in a cylinder. The bottom is flat the sides have a few bubble marks. The top is not smooth. It looks a bit wavy like it dried fast. It weights 201.45 grams (a touch more than 7oz). He wants silver value ($120) but I made it clear I could not pay that much since it's purity is a factor.
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Bedrock of the Community
United States
10982 Posts |
Quote:
...it's not stamped and has no silver content mark. That's a huge red flag. I will not buy silver bullion that is not properly labeled. |
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Pillar of the Community
United States
564 Posts |
I agree with that. I didn't know if there was a way to find it's purity. I'm interested in it only if I can verify it's silver quality and the price is right.
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Moderator
United States
6563 Posts |
Quote:
it's not stamped and has no silver content mark. Not sure why I didn't say this before but.....If you can't resell it to break even or make a profit then why bother? If you are going thru the headache now of possibly buying how hard do you think it will be to sell it? |
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Bedrock of the Community
United States
12437 Posts |
Since it is not marked, you could test the specific gravity to determine purity. However, most places that purchase scrap silver usually turn away unmarked material and will not want to bother with SG tests. Also perform a ring test to make sure it isn't lead.
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Pillar of the Community
United States
3294 Posts |
And just an FYI, silver price is measured in troy ounces, which have more grams in them then a standard ounce. 201.45 grams is only 6.47 troy ounces. If it were me, I would walk the other way.
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Valued Member
United States
364 Posts |
 Exactly. The silver fairy could leave you a free one ounce unmarked round, but if you can't sell it when you need too, it does you no good. And since he wants spot, why not just go buy some junk silver or generic rounds instead? Way better. |
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Pillar of the Community
United States
651 Posts |
Refiners will have to charge an assay fee 1st in order to determine content and purity. The price will be lower because it's not branded. Stay away if you don't know. I've seen things like this before, but bought after the assay was 1st done.
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Pillar of the Community
United States
2120 Posts |
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And since he wants spot, why not just go buy some junk silver or generic rounds instead? Way better. ^This |
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Valued Member
United States
380 Posts |
STAY AWAY FROM IT! Do not even think twice about it.
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Valued Member
United States
285 Posts |
I agree with everyone one else. It's too easy to get quality marked silver around spot to risk buying something of unknown purity and origin.
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Moderator
 United States
187702 Posts |
I would be more concerned that this thing contained hazardous waste!  |
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Pillar of the Community
United States
2589 Posts |
if you wanna gamble, make an extreme lowball offer otherwise stay away
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Pillar of the Community
United States
581 Posts |
My experience...when the flag in the back of you head goes up or the gut makes a certain grumble (not hunger or gas either)
WALK AWAY
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Replies: 24 / Views: 7,286 |
Posted 08/29/2010 10:29 pm
