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 Replies: 17 / Views: 4,968 |
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New Member
United States
17 Posts |
Whats the deal lately with people wanting way over spot value for these bars. Even in all the local shops and on ebay and other auction sites I'm seeing 1oz bars on up going for as much as 35 dollars a piece! Is there something about this specific bar that I dont know or is it just people trying to find a sucker to buy them. |
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Pillar of the Community
United States
2661 Posts |
I think it is just people playing on economic fears and the stupidity of others. It is just a piece of silver smashed into a bar with a design on it, nothing more. It is only worth its spot value in my opinion.
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New Member
 United States
17 Posts |
Thats exactly what I thought too, I understand the one dealer around here that is about a dollar above its actual value, but the other are just plain nuts.
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Pillar of the Community
 United States
2448 Posts |
I went to ebay and saw what you meant; some of the 10 oz bars were out of sight also. Chalk it up to not knowing what spot price is or they're expecting a huge double dip. |
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New Member
United States
17 Posts |
I'd really like to find a place where I can constantly buy some bars to put back but at these prices its just not making any sense to do so unless someone can show me an honest place to get them.
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Pillar of the Community
United States
2335 Posts |
You would think an ounce of silver/gold would be worth spot no matter who makes it but a check of prices will show that's just not true. Although I don't understand paying more than spot to each his own.
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Pillar of the Community
United States
1534 Posts |
Quote:
Chalk it up to not knowing what spot price is or they're expecting a huge double dip.
Most likely that and the fact that JM and Englehard bars have more demand than their lesser known counterparts. Although rare and special bars command a premium and that may be why. |
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New Member
United States
17 Posts |
I've found even the other brands of bars people are expecting a nice premium over spot at the moment, I went to APMEX and was looking around and they even want a premium over spot plus shipping, just isn't worth it to me... |
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Bedrock of the Community
United States
10982 Posts |
JM silver bars always bring premiums in the market. Many people collect JM bars so it's more than just their silver value.
Fractional bars (less than 1oz) also bring crazy premiums, sometimes 50% over spot.
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New Member
United States
17 Posts |
Holy cow, I been seeing silver 5 gram bars going for 10 dollar or more! LOL what is wrong with people, thats only about 3 dollars worth of silver!
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Valued Member
United States
53 Posts |
I don't know why the premiums are so jacked up but one of my first bullion purchases was a ten oz JM bar and I will never get rid of it. I don't know why people, myself included are so fond of them. I didn't pay much of a premium on it though.
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Pillar of the Community
United States
2448 Posts |
Quote:
Fractional bars (less than 1oz) also bring crazy premiums, sometimes 50% over spot. Hey gang, are we missing something? I know credit is tight, but is there a greater liquidity problem out there? Are folks getting scared and buying up silver any way they can? I don't see it here. But we're more of an agrarian community than other places and have a pretty stable work force. Go up to DC and you wouldn't think there was a recession if you didn't hear it from the local pundits. |
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Pillar of the Community
United States
1534 Posts |
Quote:
Hey gang, are we missing something? I know credit is tight, but is there a greater liquidity problem out there? Are folks getting scared and buying up silver any way they can?
I don't see it here. But we're more of an agrarian community than other places and have a pretty stable work force. Go up to DC and you wouldn't think there was a recession if you didn't hear it from the local pundits. No. Some people collect silver bars. Not for investment or for the silver, but just like coins. If a bar is rare, old, or unique, then certain people pay premiums for them. Fractional bars as Bherring mentioned are popular. |
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New Member
United States
17 Posts |
I've been searching for hours and I'm having a very hard time to finding decent prices on 1oz and 5 oz bars, most of the 1oz bars are anywhere from 22-26 dollars plus shipping. I'm guessing I'm going to have to keep hunting local shops and shows for some deals, but I doubt i'll find a way to get ahead buying from dealers.
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New Member
United States
17 Posts |
And whats with all these Canadian maple leaf 1 troy ounce bars on ebay, they say in the description that they are not 100% solid silver but the outer layer is 1 troy ounce of .999% pure silver that is 100 mills thick. Makes me leary. |
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Pillar of the Community
United States
651 Posts |
When I worked at a local coin shop when we would see 100oz bars of Engelhards, we had to take a carefull look. Several years ago, there was a dealer (names being withheld) who took part in scheme to short the bar. They had drilled out cores through the sides and then refilled with another material such as lead. The appearance of the sides was a way to somewhat ID them aside from a full assay. Several people did go to jail.
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Replies: 17 / Views: 4,968 |
Posted 09/11/2010 1:23 pm
