Bought a 100oz Silver Bar

Other than convenience in transporting a single bar what advantage is there to 100oz bar vs. 100 one oz rounds? I can give someone a one oz round for a bag of a dozen eggs, a loaf of bread a gal of milk and pound of sandwich meat. I can't give a 100oz bar, or won't.
 
Other than convenience in transporting a single bar what advantage is there to 100oz bar vs. 100 one oz rounds? I can give someone a one oz round for a bag of a dozen eggs, a loaf of bread a gal of milk and pound of sandwich meat. I can't give a 100oz bar, or won't.
Back when I bought mine there was one heck of a discount now not so much
 
Other than convenience in transporting a single bar what advantage is there to 100oz bar vs. 100 one oz rounds? I can give someone a one oz round for a bag of a dozen eggs, a loaf of bread a gal of milk and pound of sandwich meat. I can't give a 100oz bar, or won't.
Like I said, I prefer rounds also, but no one is going to be wondering around exchanging silver.

If my math is correct - OP just paid $5180 Canadian, or $36.26 USD per ounce. Cheapest you can buy Eagles today is about $39 an ounce, so its 10% cheaper to do a bar.
 
Other than convenience in transporting a single bar what advantage is there to 100oz bar vs. 100 one oz rounds? I can give someone a one oz round for a bag of a dozen eggs, a loaf of bread a gal of milk and pound of sandwich meat. I can't give a 100oz bar, or won't.
Processing and handling makes the 100oz bars a bit less expensive per ounce. I am not intending to barter my silver for groceries. I am planning on holding it long term, to weather troubled economic storms ahead, and also to keep my savings safe from government overreach.
 
I’ve always been curious about this stuff. Walk me through a few things though. You purchase it for 12% above value hence you need it to rise in order to break even. Can you then liquidate it at market value or are you going to be selling for below market value at the time of sale?

When you buy Bullion such as Silver it most commonly comes as
1 Troy ounce coins (minted by Govt mints such as US, British etc),
1 oz Rounds ( look like Coins but are minted by private mints so are not allowed to call themselvs coins), or
Bars ( various sizes from 1 oz to a couple kilos.

When you buy, you pay spot price (aka melt price, the price for the raw material that a large smelting enterprise or mint would pay)
PLUS a markup (after all for minting, guarding and distributing this, they have to get operating costs, plus a profit).

The markup is greatest with Coins, but so is the acceptability on the market when you sell.
Every potential buyer knows what a Silver Eagle is for example.
Second come Rounds, a little less markup but a bit less acceptance from the public
Finally bars have the least amount of markup over spot. Here you get the most silver for your money, but since most bars are larger they are harder to sell .

When you sell you be lucky to get spot price for anything. Except for well known coins, like Silver Eagles of Canadian Maples leafs, for which you might get a bit over spot, but not nearly as much as the original mark-up.
(Most of my Silver is in Canadian maple leafs: Much less markup than Silver Eagles, but still very good name and acceptability)

So why would anyone do this?

a) there is potential for spot to rise so much that the haircut you take, vis-a-vis the original markup, no longer matters as much
b) To own something that will always have intrisic value, as a hedge against inflation or currency collapse.

After all your USD Bank accounts are really just electrons inside someone elses computer.

For rounds and coins, 1 oz is the most common, but other sizes exist.

The system is parallel in Gold, except everything is much more expensive.
Recently the %age markup for physical silver has significantly outpaced the markup for Gold Bullion.

A Krugerrand (best known One ounce Gold Coin) may be $3100 USD now (1 troy ounce of gold, mixed with a little Copper and platinum to make it a bit harder, but still contains a full oz of Gold) and the spot price for Gold maybe 3000 USD/ ounce now.
So by percentage the mark up is much less in Gold.
Which is why i stopped buying Silver (I already have a lot of it) and switched to Gold.
The price of entry for Gold is so high though and the resulting $3000 coin so small, it is much less satisfying than to have a almost a 80 (ish) coins of silver for the same price ; which are each larger to boot.

Also in a general economic collapse, its easier to pay for a tank of gas with a couple of coins of Silver than with any amount of Gold.

A couple of tips:

ONLY buy from reputable sellers like JMBullion
NEVER sell , when you do need to sell, to pawnshops, at least the small ones. They will nearly ALWAYS try to rape you.
Know what you have and dont let them gaslight you.
I once had one offer me 50% of spot! (laughter)

Large serious jewelers or better yet if there is a bullion whole saler in your town you can get his interested if you sell a larger amount say a minimum of 200 oz of silver (be prepared to show a receipt of ownership).
The day the pawnshop offered me 50% of spot, I had my whole seller offer me spot minus 1 USD/ ounce, which amounted to 95% of spotprice.
This was for a sale of 200 one Oz Rounds (Buffaloe Silvers if I recall)
Which was fair, since they were "only" rounds and I had paid less markup to get them and I actually still made some small profit since spot had rise about 4 dollars since i had bought them and markups for Rounds were small back then.

Also if you buy from a legit large place like JMBullion, they will buy it back years later at the given market rate of the day (which can mean a profit or a loss)
 
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Processing and handling makes the 100oz bars a bit less expensive per ounce. I am not intending to barter my silver for groceries. I am planning on holding it long term, to weather troubled economic storms ahead, and also to keep my savings safe from government overreach.
You have 100 oz of silver today.
You will have 100 oz of silver tomorrow. How many Canadian / US dollars will it be worth. Who cares.
It will still be 100oz of silver in 100 years.

Silver has been money for 5000 years (at least).

Enjoy.
 
That's probably the reason you bought it and won't admit to it.
Ha, ha. I won't invest in crypto coins because there is nothing to back it. Even stocks and bonds, there are too many variables beyond my control. My stash of silver, which I plan on expanding, is something I have in my possession and no one can take it away, not even the government. Because of its wide industrial usage, it is not going to suffer any catastrophic loss of value.
 
Where do you buy it at Costco, exactly? They have them at the CS desk or what? How does it work?

Keep in mind when buying Eagles, for ex, you'll pay maybe a 25% premium but then the dealer will also buy them back from you at a premium over spot.
 
I bought both bars online at Costco.ca. The warehouses are out of stock on them. You can see that in the screen shot of Costco.ca that I posted. Shipping is included in the price. They sent it by Canada Post the first time and Purolator the second time. The second one arrived two days after I placed the order online. The first one took a week.
 
I bought both bars online at Costco.ca. The warehouses are out of stock on them. You can see that in the screen shot of Costco.ca that I posted. Shipping is included in the price. They sent it by Canada Post the first time and Purolator the second time. The second one arrived two days after I placed the order online. The first one took a week.
I see. No silver on their site here in the states that I see, only gold Eagles and 1 oz bars. I have a $50 Eagle in my cart right now just for S&G's and it's right at a 13% premium which is pretty good.
 
Other than convenience in transporting a single bar what advantage is there to 100oz bar vs. 100 one oz rounds? I can give someone a one oz round for a bag of a dozen eggs, a loaf of bread a gal of milk and pound of sandwich meat. I can't give a 100oz bar, or won't.
The advantage is that the markup over spot will be less per ounce, than for rounds sold by single 1 oz unit.
I prefer the smaller denomiations but there are arguements from both sides.
 
One thing I don't understand is-
I see these TV commercials selling gold & silver.
It's stated the people (with all this gold & silver) are 'actual' customers.
How many people on the street would recognize them ?
How many people would then know where to get some 'free' gold ?

Today, protecting yourself from scams/burglary is difficult enough.
Question: would you do a TV commercial showing 'everybody' how much gold you have at home ?
I WOULD NOT !

So, either these people are stupid, or the commercial is not being honest.
 
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One thing I don't understand is-
I see these TV commercials selling gold & silver.
It's stated the people (with all this gold & silver) are 'actual' customers.
How many people on the street would recognize them ?
How many people would then know where to get some 'free' gold ?

Today, protecting yourself from scams/burglary is difficult enough.
Question: would you do a TV commercial showing 'everybody' how much gold you have at home ?
I WOULD NOT !

So, either these people are stupid, or the commercial is not being honest.
There has always been scammers in the gold / silver market. The silver market has long been believed to be one of the most manipulated markets there are. Even the big banks have been sued for manipulation. Your correct, the stuff on TV is likely just a scam.

Doesn't make silver itself wrong. Just because contractors run around offering new roof's after a hail storm, doesn't mean you may someday need a new roofer.

Probably why places like Costco are popular buying spots - more trustworthy.

If your just looking to flip silver / gold - just buy the paper derivatives - SLV and GLD. If you actually want to hold it forever then go to one of many reputable sellers.

https://www.reuters.com/article/bus...-of-metals-spoofing-litigation-idUSKBN2AW2NS/
 
One thing I don't understand is-
I see these TV commercials selling gold & silver.
It's stated the people (with all this gold & silver) are 'actual' customers.
How many people on the street would recognize them ?
How many people would then know where to get some 'free' gold ?

Today, protecting yourself from scams/burglary is difficult enough.
Question: would you do a TV commercial showing 'everybody' how much gold you have at home ?
I WOULD NOT !

So, either these people are stupid, or the commercial is not being honest.
No one keeps their gold in their house.
 
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