| Author |
 Replies: 26 / Views: 3,660 |
|
Valued Member
United States
362 Posts |
I found this on craigslist, and a local pawn shop has it. And while I really dont want to drop this much money down, I have seen englehards go for a very large premium, and especially if silver jumps up to 90$ an ounce... that would make this a good investment, haha.
any thoughts?
|
|
|
|
Pillar of the Community
1283 Posts |
I would buy it if you are sure it is real. If it is a silver engelhard bar at $35 an ounce is a deal in my book.
|
|
Bedrock of the Community
United States
10982 Posts |
The price is good but it's a risky move unless you have $3500 to lose at the casino tonight.
Silver could easily bounce up to $50 but it could just as easily fall to $20. Very volatile right now.
|
|
Valued Member
 United States
362 Posts |
I looked them up online, they deal almost entirely with jewelry, PM's and bullion. Tossing around this kind of money makes me a little nervous but it would be a heck of an investment... Anyway to verify it? http://images.craigslist.org/3n83k6...d7df1dbc.jpghere is a link to the image While I do have 3600$ sitting in a bank, It might be more prudent to put that into some other stocks and mutual funds... I would love the idea of having a 100oz bar, but it would make me nervous as hell, lol |
|
Bedrock of the Community
United States
10982 Posts |
The pic looks fine. You need to find the dimensions of that type of bar and then measure it carefully before buying. Weight is needed too of course.
For that kind of money I'd want to meet the guy in a bank or indoor mall somewhere. Discretion is the better part of valor.
|
|
Pillar of the Community
Mexico
1304 Posts |
ICanSeeYou, Why not go for lots of smaller purchases like 10x10 oz? Makes it easier to sell when the times comes...just a thought.
|
|
Valued Member
United States
362 Posts |
Well a couple reasons. Mainly because it says englehard, and it would be cheaper then getting 10 10oz's.
I dunno if you can find 10oz englehards at spot value, or this close to spot value, a lot of them have a pretty heft premium.
Also, having a 100oz bar would just be cool... I know thats not a real reason, but then again, having things I think is really cool is kinda bad because then I will never want to sell.
But basically I saw it, looks like a good deal, but your definately right, smaller items are usually a lot easier to sell.
|
|
Pillar of the Community
United States
3184 Posts |
I wouldn't get it. You have so much money tied up in one bar. When you sell, you get spot minus 1 or so. When you get smaller bars, easier to sell and most times you can sell it for spot. Also there are fake 100 oz bars out there so be careful. When I buy something I think of liquidity.........how easy is something to sell. 10 10oz bars is much easier to sell than a 100 oz bar in my opinion
|
|
Pillar of the Community
United States
2661 Posts |
|
|
Valued Member
United States
362 Posts |
Haha definately scared me...very interesting though... I might steer away from this then... but if anyome lives in georgia, ill tell you were it is, lol
|
|
Rest in Peace
United States
9104 Posts |
I'd be comparing it to other bars. The top left looks lopsided, and other engelhards have a box around the name, but they could have used other logos.
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
Not trying to scare you or talk you out of buying. Just trying to educate and protect you brother. This looks like some VERY solid advice to me. If anyone were to by this, they would need to measure and weigh it VERY carefully. Might also try to stick a magnet on it to see what happens. Silver has a specific density, so the measuring should show if it is very close to the book value or not. The magnet will show if there is any nickel or iron in it. It does not hurt to be very cautious here. Missing what could be a good deal is one thing - buying a $3500 fake is another. Just my $0.02 worth. |
|
Valued Member
United States
314 Posts |
I advise you to stay clear. I have over 5000 ounces of Engelhard items. Below is my explanation.
The Bar Looks close. But a couple things do not look right from the picture. This bar is what they call the triangle Logo bar. Named for the triangle in the A, as shown in the picture. These were also one of the only logos used not to have the box around Engelhard. From the picture, it also appears to have a triangle present in the D. This is NOT typical for the font used by Engelhard. Neither is the block present around the stamped serial numbers. These were typically stamped incuse, and only the serial number is present, not the marking surrounding them.
These bars are also famous for being drilled and filled with lead. They will pass rare earth magnet testing, because they will still be non-magnetic, and they will have an outer shell of silver that will still slow down the magnet's slide as silver does. The ONLY way to tell, is a specific gravity test.
|
|
Pillar of the Community
United States
1285 Posts |
Do any of these bars over 10oz come with assay cards / cert letters? Thanks
|
|
Valued Member
United States
362 Posts |
I'm really happy y'all know what your talking about...
I'm actually thinking about making my first apex purchase... I was thinking a quarter eagle and a couple 10 oz bars...
Part of me wants to wait and see if silver drops..and part of me think it won't go below 35... ahh so many decisions
|
|
Valued Member
United States
102 Posts |
I've moved a few 100 oz bars in the last year. It went pretty fast and easy actually.
All depends on demand.
|
| |
Replies: 26 / Views: 3,660 |
Posted 05/12/2011 4:44 pm
