Is buying BIG silver bars a very bad idea?
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- Опубліковано 1 сер 2024
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I was a consultant to Doomsday Preppers, and I told of a guy who painted his 100 oz. Engelhard black and used it for a doorstop. The idea was, "who the hell is going to steal a doorstop?" Wish I still had it. I only paid $450 for it back in 1992.
Thx/ Dankie/Merci Dahnks1. I was wondering how much is this going go cost. In an YT financial video the man said criptu many is like gold money..Young ppl go 4 Cripu and older ppl invest have gold... BUT I do not understand Cripto. I'll stay away... Gold is very-very expensive.
$450 in 1992 was then about (South Africa) ZAR 1 350. (A new Uno motorcar = ZAR 35 000)
Today $450 is ZAR6 525 (A same like car is about ZAR 150 000..)
How much is 100oz? 100grams?
I like big bars and i cannot lie!
You other brothers cant deny!?
ua-cam.com/video/ddb_4xb0xzI/v-deo.html
Yes me to
You other "stackers" can't deny...
The “brothers” don’t have a choice, they are all morbidly obese
I find 100oz no more difficult to sell than 1oz gold coins...
The reason it has value is because at the end of the day it has industrial/manufacturing/jewellery uses. And those people aren't going to give a damn if it's stamped with a beautiful american eagle or not.
Worse decision is not to buy silver. Rounds, small bars, big bars, etc....none are bad to hold. My self, the biggest bars I have are 1 KG bars.
Fair enough, I agree in principle but not too much, never over buy from your budget
Worse comes to worst just hack it into pieces aka "hacksilver" viking-style... xD
I don't have a Kilo bar yet. I'm looking and really love the size. My only concern is when it comes to selling, would it be more difficult to sell 32.151 oz than 3 10 oz bars and a couple ozs. 🤔
10 oz and 100 oz bars are very easy to sell. Never had any issues.
I have 9 various 100oz bars... Not worried. If I need to sell, I’ll skip the mom & pop businesses and contact the professionals.
First piece of silver I ever bought was a Canadian Mint 100 oz silver bar.
Wow, thats a big buy for your first time!
@@BackyardBullionHaha yeah, 2019 RCM, got it at spot
haha the silver spot price drop a lot i got one for 14 dollars an oz
Also my first bar. When spot dropped below $12 this March, i grabbed a 100 oz stacker from Scottsdale. Definitely didnt get it for spot. Lol
Baller 😎😂 I will get one one day.. Hopefully 😒
I have a silver exchange that will take anything by weight, big or small. I'm not too worried. I can also hop the border and sell in the next state as they are even friendlier with metals trading.
Hey yeah I seen SilverJokers video too😀👍! Laser edged ! Wow! That's cool! Love the display🤤
small bars- short term, large bars- long term. If the economy goes to crap, you can't buy milk with a 1kg bar.
Love the video. As always very informative and thought provoking. Thank you.
I'm new this idea too, but it makes sense to stack in usable denominations.
There are services to convert them that cost around $1/ounce. Given how much cheaper 100 or 1,000 ounce bars can be during panic times like right now, I'll take the big bar and convert as needed when things are calmer.
Fantastic assessment. I also saw Silver Joker's video on selling 100 ounce bars.
Thanks!
Beautiful beautiful work my friend. Great video 😊
looking forward to bigger things. I was paid in a 5 oz bar few years ago. quite impressive to hold just compared to one ounce coin or round. that 50oz would be awesome.
Yep, they’ll all sell….everybody has different situations. Unless just buying rice, beans, and Skittles is your idea of money usage forever. An oz. of gold is $1900, nobody seems to worry about that.
I prefer big bars, low premiums and more oz's. The draw back of getting less then spot will be moot if you time your selling till your well into the black. Its about timing. If I get 20 a oz instead of 21-22 when I got it for 15.00 thats still a pretty big win.
Yep no inflation on your investment and profit. What's better
I have bought 4 100oz bars and 3 50oz bars and in my town they are very easy to buy and sell. One of my 100 ounce bars is a Johnson Matthey London, which is considered rare, (also with a 50 and 20oz bar). I also have a vintage poured Engelhard 100oz bar, not so rare but in good nick. A lot of the 50 and 100oz extruded Engelhard bars like yours are pretty banged up. We have one in the shop and it is a mess. I think they show wear worse as they came with a frosted finish which is easily marred. Anyway, with the lower CDN$ and higher silver price, they all are winners as far as wealth preservation is concerned.
I purchased some kilo rounds and I love the feel of them plus the detail of the design
Glad you like them!
Great video as always BYB
Nice video. You explained it well. My only piece bigger than 5 oz is a 1 kilo Australian Koala. I may buy one or two more kilo coins or bars but that'll probably be it. I like holding my kilo coin sometimes, just feels good in my hands but I'll probably stick to 5 oz and lower just because I want to be able to sell with no issues.
Once again, nice and informative video. Always love your products on display!
Thanks, appreciate the feedback!
I just bought my first silver bars a few mins ago. Honestly I feel like the deal was too good to be true, but I'll find out soon enough.
Big fan of big bars as well.. Silver is silver! Time is money and small deals take up opportunity cost. I like those ol Engelhard 100 ouncers.. nice!
Silver is silver, thats the best thing about it in whatever form it is. Thanks for stopping by and commenting!
@@BackyardBullion thanks for the video well done
Time to buy
What a great video. Great information 👍💥
One of my Uncle's died and left our family exactly 36, one thousand ounce Ingots of tripe "9" silver.
That was a few decades ago, when the price was climbing fast. We got hold of a dealer, and he was able to take 2 or 3 ingots off our hands, for a Certified Check about 3/4 times a year! We had ZERO problems selling every one.
But, then......
We found my Uncle's "Real stash"!!!!!!!!
I have to hear more
Damn thats a cool story
tell us more!
Here in Bay Area CA. Bought and sold many 10 oz. 100 oz. No problem. Generally 10 oz slightly obove spot, 100 oz. $0.50 under buying or selling. Best thing about 100 oz. is no tax over $1500. So $100 + savings to start with. Also with 4-5,000 oz., much easier to handle and store. Conclusion : Engelhard 100 oz. my favorite by far for reputation/ tax savings 👍
Size matters. My first silver buy: a stunning, delicious 100 oz Johnson-Matthey !
Me too ☺, i plan to trade the large bars for property one day.
@@laughinglion7659 me too brother
I wonder if it is now easier to sell these big bars, with the sudden interest in physical silver all of a sudden.
Fantastic! I've always used the magnet method to make sure it's silver. If it slowly runs off when its held sideways, it's real. If it's a huge bar than use a huge magnet to confirm no magnetic metal is inside. I suppose it's not a 100% method but its a pretty damn good one in my opinion.
Lead and tungsten are both nonferrous. You will be burned badly at some point if that is the only test you are using. A magnet literally tells you nothing.
@Kra Boo Specific gravity test is probably one of the most reliable, it won't catch a drill and fill with 80/20 lead/tin, but pretty much anything else. ua-cam.com/video/ES7u-F29rqM/v-deo.html
1 oz coins, 10 oz or 1 kg bars. Silver at different scales so if I need or want to sell an amount I can without having to sell to little or too much. Not that I intend to sell any time soon. Just think it’s worth having that utility in different amounts for conveniences sake
Makes sense. It would be foolish to walk around with only $1,000 bills... If the economy collapses and paper money loses it's value, it would be good to have different denominations of silver. A coin might buy you a bit of food while a large bar might buy you a vehicle or a weapon.
I look at silver and the other precious metals as a safety net.
I just bought a 100oz bar just like your 50oz bar there! It feels heavier than 7 pounds
Great video, worthwhile watch 👍🏻
Glad you enjoyed it
Are there any government minted 1 oz silver coins that does not have milk spots? I've been considering the Britannias, but the issue of milk spots worry me. I don't want to both pay several dollars in premium per coin, AND loose several dollars again when selling them due to milk spots.
Good one Mate!
I like bars to, but bigger sizes to heavy to carry, plus hard to get rid of.
Thanks for the videos
Silver is more rare above ground than gold. Completely undervalued.
I know this vid a bit old. But, the bigger the bar, the better the deal! With a lil patience and small investment. You can always smelt your own silver into smaller balls and sell at a higher premium price. Just like anything you market/produce. Dealers buy at wholesale, buying low, cut it, sell high... But each to they're own and owning any precious metals is a blessing in itself. Think of people that can't even afford even a steak or loaf of bread! ✌️
is it wise to trade Gold for a monsterbox right now?
In holland it would cost me about 9oz of gold to buy a 500oz monsterox. or should i wait?
Given the current uncertainty that weare facing and a possible big financial crisis just round the corner do you think that 3,000 oz is enough in silver?
The LoTR reference got you a 'thumbs up'!
Having no silver is a bad idea. When industrial silver comes in to secure years of supply it will not matter.
That's what I'm holding for.
Sureee, that's why silver prices dropped to the level of 2011 prices 😂🤣 Silver will not get over 40 in the next 15 years, investing in silver is wasting time.
I'm cool with that.. I'll have a lot of silver in 15 years... thats double my money and it just sits there literally . Thats win win situation to me.
I just buy whatever is the best price at the time.
When prices take off it will not matter that much whether you have coins or bars they will all be in demand.
A great way to look at it
Bet they aren’t hard too sell this week and the last! I see them for over $3000.00 right now in the states.
Nothing bigger than 10 ozt here ... but between you and Silver Joker the mental barriers to 100 are lowered. Thanks
Great to hear, 10 oz is a great size by the way!
They are as easy to sell as 1 oz size. Every size has its merit.....if you are going to stack 5,000 - 20,000+ ounces of silver then 100 ounce bars just makes sense for stacking and storing. Believe me when I sold back in 2011 most of my stack was ASE and 10 oz bars and it was a huge hassle to take to my dealer and actually moving the 100 oz bars I had was easier. When I jumped back into silver I only went with 100oz RCM and pamp bars. I can easily fit 4,000 ounces worth of 100 oz bars in a space the size of a shoe box where as with coins in the same space you can only hold a 500 coin monster box.
I know prices change with the market, but is 100 oz of silver that different in price than 1 oz of gold? If gold is hot, at the moment, sell your gold. If silver is hot, sell your silver and buy gold. If people are willing to buy an ounce of gold, in the ballpark of 100 oz of silver, what is the difference in liquidity given roughly the same pricepoint?
my stack is almost all 10oz bars with a bunch of 1oz bars and coins. last time i went to my lcs last week the guy behind the counter showed me a photo on his phone of a transaction the day before of 58 x 100oz bars all beautifully stacked and bought by 1 person. in my dreams
Wow, 5800 Oz of silver would have been a sight to behold
yeah that’s the thing they are cheaper but you usually have to sell them back under spot 🔥🐉
My local coin shop buys recognized 100oz bars @0.75 cents under spot, buys ASE @0.02 over spot. The premium of 100oz at the time of purchase is usually less than $1 over spot, but the ASE is usually $2 over spot (100 coins). Unless coin shops buys ASE @ $2 over spot, otherwise selling bars under spot isn't a big deal. You didn't pay premium at the time of purchase anyway.
Or buy them from people selling up.
I also noticed the coin shop pays more on recognized gold bars than the American Buffalo, it's the opposite of silver.
Virtually every piece of silver, premium or not, sells to dealers under spot, (maybe not ASE's in the USA). That is why, I always try to buy as close to spot as possible, except for the odd choice rarity, where I swallow the loss.
MétéoMan good man nice 👍
What’s the difference between Métalor and Umicore silver bars ?
If it’s being bought from a reputable bullion dealer (very large company) is there ever anything to worry about buying bars? I just got my very first metal purchase in the mail, I got 5 single kilo bars.
Where is the best place to buy those coins? I'm in Ireland but can also buy from a UK dealer.
www.europeanmint.com
Thank you for your financial advice
It's not financial advice 😉
Things must be different in London here in NY I sold 7 100 oz bars with absolutely no problem at MTB in NYC. Of course trying to sell them on Ebay or a coin shop may be a problem. Hey if someone cuts it in half I want the cash right there in front of me. Once cut it's their problem as to what to do with the bar.
I like 10 Oz'ers personally. They're easy to carry, low premiums, but still have the heft of a *bar.*
Great information. Agreed on big bars. But smaller is probably easier to sell because there’s more buyers right?
The clickbait got me here 😂 thanks.
Denmark uses the three towers too, it´s their hallmark for genuine silver.
I think the point is a big bar is not affordable to most people
Yeah, it is hard to get hold of the cash to buy in bulk.
My first silver purchase was 2 10oz bars, but I have plenty of 1oz coins up to plenty of 5kg bars. Not selling any.
Cool video. With the GSR as it is at the moment I'm planning on buying a 100oz bar this year. I only plan on selling it back to the dealer for gold at a later date so not too worried about resale value.
My lcs told me they are happy to buy my kilo bars, and at spot. No premium, but at least it isn't below spot! Wonder if silver went to $100/oz, a kilo bar would be $3.2k and be harder to sell.
If it ever comes to me having to sell some silver, I'm going to want the "recognition" factor in my favor. I'm sticking with the more common coins and rounds as the foundation of my stack. I don't want the risk of being turned away if desiring to sell some of my stack.
Amazing video!!! :D
Thanks!
@@BackyardBullion you're very welcome!!!
Great video!! I’m giving away one of these big bars in my current Mega Gaw!! 🤓🤓😛😛👏🏻👏🏻👏🏻 1 Kilo is up for grabs!! 🤓🤓😛😛😛👏🏻👏🏻😍😍😍
WOW, thats awesome buddy!
MEGA
Mega mega
Kilo will be awesome.
It will look great in my stack too😋
Hello
I just got a hold of a lot of money after a death.
How would I buy a big bar. Where. I’m located in nyc
Is it hard to sell silver someone melts at home
I've been stacking for a decade and prefer 10 oz bars after I reached a comfortable level with 1 oz bars. 100 oz bars may be in the future though.
Nice
The biggest I have are the 250g Umicore bars. Just the right size to put in a sock and swing at robbers should they come for for stack
Yeetttt
Anybody who is dumb enough to.think silver is valuable enough to steal but not valuable enough to buy is still way smarter than a "stacker" too stupid to "defend" his stack with nothing but a bar and a sock and will have a gun. Or a knife. Or a baseball bat. Or just enough brains not to stand there long enough for the idiot with the weighted sock but not enough balls to have a real "weapon" to work up the guts to take a single weak little Nancy-boy "stacker swing" with it before running away to go find Mommy. Even a "stacker swing" could hurt a little and the urge to grab the sock and bar from the fool and "escalate" the situation vs. standing out of reach and yelling BOO! and grabbing the "stack" AND the bar out of the "weapon" as Junior runs to his "panic room" under Mommy's skirt is a no-brainer.
@@deeremeyer1749 Calm down. It was clearly a joke.
@@deeremeyer1749
Anger issues.
After premiums come down, I'm going to try to get a kilo bar into my stack. I don't see getting a 100 ozt bar anytime in the next few years.
apmex sells 1kg pioneer metals bars for 1k
Regarding that assayed and stamped "BYB" bar, what's to stop a counterfeiter from faking the marks?
The threat of prison basically, it's an offence to counterfeit them.
Biggest bar I have is a 300 gram BYB kitkat lol.
I know a guy with a 1,000 (well 974.8) oz bar...he uses it as a doorstop for his home office
Wowzer!
Where does he live?
Rich people! They're just like us!
60 pounds is quite heavy for a doorstop. That door it’s going anywhere!! Haha
@@juliusnewman2094 big door needs a big stop
Nice bud
I find smaller amounts i.e. 1 oz coins bars and round to be easier to unload when the system collapses. May be fairly easy now, but if the whole system is down most people probably won't be able to afford the larger bar or make change so to speak.
Josh Cravens How do you qualify your assertion since the system hasn’t collapsed?
Facts aren’t facts if you just make shit up.
But William is right.....the system has not collapsed.....
I'll rephrase so William isn't confusing what I'm saying. I am NOT saying that the system has failed. Nor am I saying that I have historical data to show larger amounts would be harder to sell. I'm just saying it is my opinion and my opinion only that larger amounts will be harder to sell. People will be very poor in an event like that. Prices of precious metals I feel will shoot through the roof. If both happen then it will be harder for someone to be able to afford that larger amount. If you spend it like currency and the person is poor how will they make change back? I'm not saying don't buy larger bars I'm just saying think about it before you do. It may not be as easy as it is now to unload that bar. I personally only go to 10 oz bars. That's just my choice and preference doesn't have to be anyone else's.
Excelente video
Thanks, glad you enjoyed!
in australia there is above and below premium but GST (Value added tax) doesnt apply to silver
@@kingston163 oh ok didnt know that, lucky most dealers only hold 99.99 purity, what retailer you get it off? i use to use abc bullion but i notice KJC bullion has a lower prem
My LCS says it difficult to sell the smaller ( up to 10 ounces ) poured silver bars
You need a new LCS.
Where is the best place to sell a 100 oz bar? Any way to do it under the table?
No idea, and best to keep things above board and the table in my opinion
eBay is great
I would have more faith in bars from the Royal Canadian Mint, verses some poured generic bar.
Would love to add some silver to the stack but will never ever pay the UK gov any tax to do so. Paying any tax to stack period is a no no for me so will be sticking to gold only.
Look at buying from The European Mint - it's VAT free!
Backyard Bullion thanks for the tip, I will take a look 👍
Well worth looking into buddy
Good video the only way I could have one of these is at an lcs. Have a nice day/evening. ; D
Thanks for stopping by and commenting!
@@BackyardBullion You're so welcome. ; D
we keep silver bars not to sell on the current situation but in an inflationary global reset where silver we be highly sort after due to no liquidity and better still to buy assets cheers
Thanks for sharing your thoughts!
Buying from individuals, yes very risky and need to be tested. Better to buy big gold n silvers from good dealers. Unless it's vintage n antique, you best to stick with the dealers. Individuals are not much cheaper, if any.
In Canada there's so much AG bullion coming from the street you can't even get SPOT price at a DEALER. For years SPOT price was SPOT price. This has been in fact NOT the case for a couple of years already. Currently there is a $1.50/oz (Canadian) "haircut" on the SPOT price when selling AG bullion. (It's basically the same story for AU bullion because the dealers can't make enough money when purchasing stock from a wholesaler.)
Yeah, its a horrible market for sure. The dealers have the advantage for high volume trades.
I deal with MRCS. (Edmonton, Candada) VERY reputable, VERY honest and reliable...VERY good prices... and I STILL feel BURNT.
Are you going to melt the SS Gairsoppa Silver separately? Because that's a piece of history there.
Yes we are going to make a 1kg + shipwreck bar.
won't melting or cutting up the bar or round destroy the .999% pure certification identification, wreck the authenticity of the silver?
We will be sending off this chopped up bar for assay testing and hallmarking so the 999 guarantee will be there again
Thank you for some great content. I really like silver bars - don’t get me wrong, but i simply don’t see why this is attractive. The cheapest i can get silver in Denmark is 38% over spot - for a 15 kg bar that is! A 5 kg bar could be mail-ordered from germany or austria at around 20% over spot, but plus expensive postage. The spread includes 25% danish or some german VAT. Once I want to sell, the best I can get between the larger dealers is 84% of spot. The minute i have bought silver, I have lost 39% of my money. It does not make sense. Did I miss something obvious?
Yeah, what you missed is most of us aren't from an insane country charging 38% over spot.
I can literally get big bars of silver 4-5% over spot in the states. Where if I buy silver eagles it's almost 15-20%. This is why it's better to buy bigger bars.
If I lived in a country charging 38% over spot. I would move.
In the US, certain states allow you to skip shipping and even all taxes if the transaction is over a certain dollar amount.
In California for instance, the threshold is $1,500. If you save your money and wait to buy in bulk through online sites such as APEX.com, you can save a huge percentage on your purchase.
Furthermore, if you buy using online checking or wire transfer, you can save an additional 5% off the total price of the transaction.
Lots of loopholes, depending on where you live in the world...
Thx/ Dankie Jakrarup. I think the question is not to make money per se. (Or may it is?) Europe is different that South Africa...) If the Rand falls all your money is like Zimbabwe money. Then silver would be wise.... From the other ppl in this YT video it seems like 1kg Silver = $1 000 (UK L750; ZAR 15 000)
The only way to go in Denmark is to buy vat free silver like coinbars from bulgaria or estonia or get yourself some nitric and start refinening if you do the last you get it below spot and can get it assayed yourself. Just keep in mind the vat regulations in Denmark change 22/06/22
@@zZElMagiCOZz Oh, what new rules go into effect ?
What’s the difference between your natural looking silver and some thumbnails that have a polished finish? Are both legit?
Nothing other than age, toning and whether they have been cleaned/polished. All are legit.
Love that BIG bar ..
It is one of my best!
Just to correct you, Tungsten is nearly the same atomic weight as Gold. If Silver bars were filled with Tungsten they would either be way too heavy or too small in dimension. It is gold bars you have to watch out for filled with tungsten.
It's the silver plated fake metal bars with a tungsten core that are the hardest to spot.
@@BackyardBullion All I'm saying is Tungsten 183.84U, Silver 107.86, Tungsten is getting on for twice the weight. I grant you if you are new to bullion and don't know what to expect dimension wise, any metal coated with silver would be difficult to detect. Gold weighing in at 196.69 is the real tungsten nightmare.
I suppose it also depends on just how much tungsten they put int too, difficulty spotting wise.
I had a a bad experience trying to sell a 100oz Johnson Matthey bar. My LCS was hesitant to buy the bar and offered me such a low price that I had to decline. It was almost like he didn't even want the bar. I was pretty shocked and it left a bad taste in my mouth on the big bars.
He probably didn't have the money and was embarrassed. Or, he didn't like the mint. Personally I would never buy from that mint myself to be honest. I only buy 3 brands of bars. Sunshine mint, silvertowne, amd RCM whenever i can get them.
NO sales tax on Bullion products here in Canastan... YET
I’d like to have a 100 oz and find out if I could
sell it quickly. 😂 👩🏼🏵. Thanks for sharing.
I've had many 100 oz silver bars never had any trouble selling them
As I think many people have experienced, you can always sell it, but you might not get the best price - but then you can buy them for a very cheap price to begin with.
Get 1 0z coins and bars if you can up to 10oz. Above that difficult to sell .less of a market!
What do you guys and girls think of a Johnson Mathey 5 kg hand poured bar?
Matthey.
lol, much like Scrooge McDuck. I'm not wearing pants... and I have no interest in selling my silver.
Fair enough, sounds like a good plan to me!
Just don't try and dive into your reserve pool =P
And I don't have any silver more than 10 oz.
I only buy silver and gold eagles, personal preference,higher premium buy, but ,higher premium sell in future, or I will just pass on to family . Just my preference. 🤑🤑🤑🤑 But yes, silver is silver