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Where to sell a silver bar


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Just curious, but what are doing holding onto a bar of silver? for it to be worth anything I would think you'd need like 100 pounds of the stuff. I think a pound is worth around $500 USD right now. None of my business but if I was going to buy precious metal it would be gold and probably buy it as an ETF rather than hold physical metal. To each his own.

Edited by StandardIssue
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When I came to Thailand one of my investments was 4 x 100 ounce silver bars bought from a Singapore company.

 

Later on I tried to sell one bar in Chiang Mai. Took a Thai friend and visited many silver shops, no luck.

 

Contacted company I purchased from and they would buy back. Then came the problem of shipping it back, no one wanted to do it. The only company I found wanted an enormous insurance premium. In the end I booked a flight to Singapore, sold them back and flew back.

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9 hours ago, StandardIssue said:

Just curious, but what are doing holding onto a bar of silver? for it to be worth anything I would think you'd need like 100 pounds of the stuff. I think a pound is worth around $500 USD right now. None of my business but if I was going to buy precious metal it would be gold and probably buy it as an ETF rather than hold physical metal. To each his own.

I have about nine kg, and yeah, the size/weight to value makes it something of a PITA. 

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40 minutes ago, Yellowtail said:

I have about nine kg, and yeah, the size/weight to value makes it something of a PITA. 

Did you buy it to keep as investment? Or some other reason? I just can't quite figure out the use of silver bars for keeping value unless at some point there was an expectation that there would be a huge demand for this metal .. for use in industry or something else. I seem to remember it being integral in producing conventional photography film but that boat sailed years ago with the advent of high quality high pixel density cameras.

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10 hours ago, StandardIssue said:

Just curious, but what are doing holding onto a bar of silver? for it to be worth anything I would think you'd need like 100 pounds of the stuff. I think a pound is worth around $500 USD right now. None of my business but if I was going to buy precious metal it would be gold and probably buy it as an ETF rather than hold physical metal. To each his own.

Never heard the saying that silver is the poor mans gold? Silver is used in industry far more than gold.

 

I had 100kg pool allocated in Oz. most of purchases doubled in price. I am happy with 100% ROI.

 

Some people just not happy.

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3 minutes ago, StandardIssue said:

Did you buy it to keep as investment? Or some other reason? I just can't quite figure out the use of silver bars for keeping value unless at some point there was an expectation that there would be a huge demand for this metal .. for use in industry or something else. I seem to remember it being integral in producing conventional photography film but that boat sailed years ago with the advent of high quality high pixel density cameras.

I bought it largely for investment in January of '16 after it crashed, and it's up about 77% while gold is up about 100% since then, so neither are that great. I have two 100 oz bars and 11 ten oz bars. 

 

I had twenty of the 10oz bars but had some framed and gave them out as gifts. They look pretty cool. 

 

But yeah, not enough value to get too worked up about. 

 

 

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5 minutes ago, Dazinoz said:

Never heard the saying that silver is the poor mans gold? Silver is used in industry far more than gold.

 

I had 100kg pool allocated in Oz. most of purchases doubled in price. I am happy with 100% ROI.

 

Some people just not happy.

As an investment, the pool makes a lot more sense with silver than actually holding it. 

 

US$100K of gold stores in a small safe deposit box. 

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12 minutes ago, Yellowtail said:

I bought it largely for investment in January of '16 after it crashed, and it's up about 77% while gold is up about 100% since then, so neither are that great. I have two 100 oz bars and 11 ten oz bars. 

 

I had twenty of the 10oz bars but had some framed and gave them out as gifts. They look pretty cool. 

 

But yeah, not enough value to get too worked up about. 

 

 

 

Ah, Ok I don't keep track of precious metal prices but that makes sense. 77% ROI is pretty good .. better than inflation so makes sense. I've only been aware of golds' appreciation as it's been in the news a lot. My investments are in a self managed portfolio in my home country.

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16 minutes ago, StandardIssue said:

 

Ah, Ok I don't keep track of precious metal prices but that makes sense. 77% ROI is pretty good .. better than inflation so makes sense. I've only been aware of golds' appreciation as it's been in the news a lot. My investments are in a self managed portfolio in my home country.

I do the same, and my equities are up almost 300% over the same period gold is up only 100%. 

 

The thinking with holding metals and gems and whatnot, is that they have intrinsic value, so if the bottom falls out of the market, and your broker goes tits-up, you still have some savings you can use anywhere in the world. Something like portable real estate.

 

More of a hedge than anything else. My wife loves gold, so I can buy her something nice, and she wears it for a few days and them puts it in the safety box and I add it to the list.  

 

 

 

 

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Silver does make nice, affordable, investment grade gifts. I would rather send my nieces and nephew a bar or coin than a gift card. They have too much cr*p already and they can cash it and spend it any time they want. And I can order it online and have it delivered right to them. 

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On 9/15/2024 at 3:48 PM, Repton1 said:

Does anyone know a shop which will purchase a silver bar? Struggling to find one, only gold. Much obliged. 

Maybe you want to reconsider. My Indian Guru tells me that this is not the time to sell Silver, it's the time to buy Silver.

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On 9/16/2024 at 4:53 AM, StandardIssue said:

Did you buy it to keep as investment? Or some other reason? I just can't quite figure out the use of silver bars for keeping value unless at some point there was an expectation that there would be a huge demand for this metal .. for use in industry or something else. I seem to remember it being integral in producing conventional photography film but that boat sailed years ago with the advent of high quality high pixel density cameras.

Yeah, photography is out. These days, there is hardly any electronic device that doesn't contain Silver. No solar panel without Silver.


Nice to know that Silver is supported by increasing industrial demand and supported as a "store of value" as well. Love it.

 

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