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Nickelless
Administrator
USA
5580 Posts |
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natsb88
Administrator
USA
1850 Posts |
Posted - 06/18/2009 : 21:10:30
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| You're not paying for the silver, you're paying for the labor to make the little bars. |
Nate
The Copper Cave
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Nickelless
Administrator
USA
5580 Posts |
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Nickelless
Administrator
USA
5580 Posts |
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natsb88
Administrator
USA
1850 Posts |
 Posted - 06/18/2009 : 22:01:04
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quote:
Originally posted by Nickelless
Just curious, Nate, have you ever sold silver bars less than an ounce? I can see how there'd be demand for fractional gold, but I'm guessing fractional silver would attract people more for the novelty aspect than the investment aspect?
I sold a handful of 1/10 ounce Engelhard Prospectors on eBay. I think they went for $5 - $6 plus shipping.
I was thinking about picking up some 1-gram silver bars (maple and buffalo designs) from one of my suppliers, but passed on my most recent order. I would have to sell them for around $6 just to break even. Another supplier makes some 1-gram rounds that are kinda cool, but again retail for $5 - $6.
I'd say they are more on the novelty side than the investment side. Coin shop dealers would probably laugh at them, but online I think you will always be able to resell them for $5 - $6, as long as they have some sort of attractive design or maker name on them. The plain bars in that auction I wouldn't touch with a thirty-nine-and-a-half foot pole.
There is a mint that makes some decent looking 1/4 ounce rounds with a reasonable premium. I may look into stocking those once I get my ongoing project count back down to a manageable number... |
Nate
The Copper Cave
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Edited by - natsb88 on 06/18/2009 22:02:02 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 06/18/2009 : 22:02:00
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quote:
Originally posted by natsb88
You're not paying for the silver, you're paying for the labor to make the little bars.
Exactly!
We all know,at least I thought we did, that fractional silver goes for way over spot!
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Copper Penny Investing
www.portlandmint.com |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/18/2009 : 22:10:01
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| No, precious Prospectors! Why! |
Trolling is an art. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 06/19/2009 : 06:23:49
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That seller is close to me. I'd like to see his setup....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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pennypincher
Penny Sorter Member
67 Posts |
Posted - 06/19/2009 : 13:17:41
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quote:
Originally posted by NotABigDeal
That seller is close to me. I'd like to see his setup....
Deal
I'm pretty sure I know how he does this.
This looks like he cut sheet metal silver (that you can buy at any jewelry supply store) with a foot operated sheet metal cutter. I took a jewelry class a few years back and we cut sheet metal copper, silver, nickel, brass, etc on a cutter that leaves the edge looking EXACTLY like this. Paying for labor? Nope. It would take merely minutes to do this. And he probably hand stamps the .999 on them with jewelers' stamps.
The people buying this shoddy looking half-arsed "bullion" are suckers. It's just sheet metal cut into 3/8" strips, then into 1/2" lengths. It's still silver though, but not from a reliable source. The silver may even be Sterling as well.  |
Edited by - pennypincher on 06/19/2009 13:20:23 |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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If you wanna pay about $50/oz. for silver...
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