Picked up some 10 oz. wall street mint bars and old Engelhard bars

[jim4silver]

Anyone here besides me think that 10 oz silver bars are a good investment? I like the wall street mint and old Engelhard bars (kind of look like bars of soap). I think they call them "poured" bars or something like that??

I still believe silver is at least going to double by next year at this time. If another war breaks out in Iran, I think it is going even higher.

Jim

 

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[nyiangelo]

i like em. i only own one though. i just think of them as hard to move if the situation comes up. so i deal mostly in 1oz and 90%.
but i have feeling silver is going up too. i can see it at $25 within a year. thats low i know but this economy is a tough one. anyone would
have guessed with a war, record high gas prices, all the mortgages junk that silver would be through the roof. so whats stopping it ?
also is anyone investing in it now hoping it will go up and sell. not talking about what you already have but buying now for later. if we only knew......

 

[jim4silver]

i like em. i only own one though. i just think of them as hard to move if the situation comes up. so i deal mostly in 1oz and 90%.
but i have feeling silver is going up too. i can see it at $25 within a year. thats low i know but this economy is a tough one. anyone would
have guessed with a war, record high gas prices, all the mortgages junk that silver would be through the roof. so whats stopping it ?
also is anyone investing in it now hoping it will go up and sell. not talking about what you already have but buying now for later. if we only knew......

Thanks for your input. I have some 90% and some 1 oz. rounds too, but most of my holdings are in gold bullion now, so I want to diversify a bit. If you think 10 oz might be hard to unload in the future, try holding gold bullion. I think like you do about this issue. I dont think that we will get so bad off that people will actually have to barter silver or gold for food (at least I hope and pray it wont get that bad), but I do see dollars crashing and the stock market and banks going south.

I think there will come a time in the next year or two that people who now have alot of money will see the benefits of silver and gold and will drive the prices of both sky high (relatively speaking). I will be happy to preserve my buying power at least or at best make a nice profit with precious metals.

I like the one ounce bars from engelhard in addition to the ten ounce bars. I wont touch the 100 ounce bars for fear of drill and fill. I dont think this is too prevalent, but I dont want to be the one who buys such a bar.
I have seen photos of such bars on the net and because the weight of silver is not too rare, unlike gold, a drill and fill bar with lead is not out of the question, especially with the price of silver rising. I like the smaller bars and rounds. 90% is good too, but I feel you lose a bit of gain when you sell it.

Jim

 

[jim4silver]

Here is a link to a picture of a drill and fill 100 ounce Engelhard bar I found online. I once had a precious metal dealer wonder why I was afraid to buy a 100 ouncer. He made is sound like I was a wimp or something for not wanting to buy one. Here is why. And the bar in this photo is an Englehard, in my opinion the best name brand silver bar around, Johnson Matthey is great too I might add.

http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500/BogusBar.jpg

Jim

 

[nyiangelo]

thats a very interesting link. i never thought of that, but thats buying it second hand right not from Engelhard itself? i havnt even been able to touch gold yet. i somehow believe that surley it cant go as high as they say. ive heard $2000, but silver is the poor mans bullion and that
is where i see it making the demand more also. i know ive made $400 in two weeks with the rise in silver. which u cant beat so im debating buyin some bullion now and holding it strictly to sell for later. i know its gonna go up its just taking that leap of faith.....

 

[jim4silver]

thats a very interesting link. i never thought of that, but thats buying it second hand right not from Engelhard itself? i havnt even been able to touch gold yet. i somehow believe that surley it cant go as high as they say. ive heard $2000, but silver is the poor mans bullion and that
is where i see it making the demand more also. i know ive made $400 in two weeks with the rise in silver. which u cant beat so im debating buyin some bullion now and holding it strictly to sell for later. i know its gonna go up its just taking that leap of faith.....

I would have no fear buying directly from either Engelhard or Johnson Matthey. But my understanding is that Engelhard stopped making bars years ago and JM bars are all old as well. Maybe with the recent high silver prices JM has started selling newer bars (thought I read something about them making 100 ouncers again in 2003??), but I am pretty sure that all Engelhard bars you buy will be second hand so to speak. I kind of like the older Engelhard 10 ounce bars that look like a bar of soap. They have Engelhard imprinted into them, along with .999 fine silver, etc. Kind of nostalgic I guess. Here is a link to what I am talking about, by the way I am not recommending this company in any way, but they have some photos of the old style engelhard 10 ounce bars. I like what they call style 1 and 2. I also like the wall street mint bars.

http://lynncoins.com/barsten.htm

I think with gold you need to remember that foreign countries and organizations with lots of money still favor gold as a monetary metal and are willing to trade their paper currency for it. Gold is nice because it is compact and fits well in a safe deposit box or your pocket if necessary. Silver is bulky and try carrying 10 pounds of it in your pocket. LOL!!

Jim

 

[BBcardsRI]

Hiya Jimbo... you got me out of the CRH forum to come down here...

So... why the premium on the Engl. bars? Silver is silver isn't it? I get that some companies are more respected and such... but to what extent... and why does that create a premium?

~Dave

 

[jim4silver]

Hiya Jimbo... you got me out of the CRH forum to come down here...

So... why the premium on the Engl. bars? Silver is silver isn't it? I get that some companies are more respected and such... but to what extent... and why does that create a premium?

~Dave

Dave,

I don't know about higher premiums. The local dealers here charge the same for Engelhard as they do for Johnson Matthey, Sunshine Mint, etc. Now, the so called generic one ounce and misc bars, like the "happy birthday" bars are sometimes cheaper, but when you go to sell you get more money back if you have Engelhard or JM, etc. In any case, they are cheaper than American Silver Eagles or Canadian Silver Maple one ouncers, at least that how it is here.

Granted, the premiums are not as low as buying 90%, but when you sell you get more back. The dealers gotta make their profit when they buy and sell. If you buy directly from Joe Public then you might get a better deal.

Jim

 

[Treasure-Slut]

Engelhards sell for a premium in most places for the same reason that Silver Eagles have a premium. They are the most trustworthy to be genuine and pure bullion, so therefore they are in higher demand and due to that high demand are also the easiest to sell when you need to. I also like 10 oz. bars Jim...those are the biggest I would buy due to the drill and fill but more because its pretty senseless to have your silver in gigantic chunks like 100oz bars unless you have ALOT because it is less liquid. I would rather have the option of selling or trading my silver a piece at a time or be able to break up the amount I want to use instead of having to sell off 100oz. all at once. Plus there are some small time dealers or individual buyers who may not be able to buy so much off of you at a given time. I go with 90% and bars/rounds between 1oz. and 10oz. max. I have no problems storing ten 10oz. bars vs. one 100oz. bar =P