Yeah Aug 21, 2015 it was added to my sheet. I forgot to take updated pics of it last night (was at scout meeting).Mid August 2015. Good time to sell it now. Hope you didn't polish it...![[smile]](/xen/styles/default/xenforo/smilies.vb/001.gif "Smile [smile]")
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Gold and silver prices are down
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I can't remember, it's sitting in a velvet bag in the safe. I may have just to get the grit off of it....So, you did clean it up...?![[sad]](/xen/styles/default/xenforo/smilies.vb/004.gif "Sad [sad]")
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Nooooooo!
D'oh.....
I updated my for sale post. Selling it for spot -$0.10 per oz. It ain't pretty lol.
Also, there's a coin show at the Nashua Holiday Inn tomorrow.
Also, there's a coin show at the Nashua Holiday Inn tomorrow.
Thanks for the heads up, I'd totally forgotten about the monthly Nashua Coin show.
Next one is Feb 16th, 2020.
If my doesn't sell by then, I'll probably take it there.
This looks like it was carried in a farmer’s back pocket for 37 years.
It was an incenorator find.
How does one test a silver bar this big? I listed it on FB, and some guy asked if he could drill it to test. Does that sound reasonable?
Yep, most would saw it in half or thirds.
Years ago there was a bunch of large silver bars that had been drilled and filled.
This type of manipulation is why I would never buy anything above 1 ounce coins. Large bars are a pain in the ass in most cases.
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Don't cut it!
Because it is a well known minter (Sunshine) all you need to do is weigh it and measure it. If is a fake (which I highly expect it is NOT) it will reveal itself.
I will find the exact measurements for this bar and get back to you.
Why?
If it fits dimension and weight characteristics for this bar, it can't have anything other than 999 silver content.
And the 50toz bars are rare! Not that this has collector value, but the counterfeiters have not forged these STRUCK bars...
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Product Specifications
| Condition | Secondary Market |
| Purity | .999 |
| Actual Weight | 50 troy oz |
| Gross Weight | 1,555.15 grams |
| Diameter | 130 x 76 mm |
| Thickness | 15.47 mm |
| Mint/Brand | Sunshine Mint |
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For shits and giggles have you "Ring" tested it or checked it with a Rare Earth magnet?
Betcha it sings better than it looks...
Betcha it sings better than it looks...
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Someone here as a Precious Metals Verifier, but it would be up to him to reach out...
413dan
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can anyone shed some light on why him "cleaning" it up was bad. what does that entail with that bar. why or how come it hurts value. thanks always looking to learn some more
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It was a joke about it having "Provenance" here at NES. He had posted many years ago about how it came into his possession.
Nothing more. Its value lies in its weight, not its cosmetic properties.
Besides, to polish it up enough to make it pretty it might lose a gram or two in weight.
For me the bigger question would be in cutting it up.
I would be much less inclined to buy a cut up bar than a solid one, and this bar most likely predates Chinese counterfeiting of Sunshine Mint "large" bars.
These 50oz Sunshine Mint struck bars are no longer made (by like 2 decades) and no examples of counterfeits have been mentioned.
IMHO this is a 'good bar' of .999 silver.
~Enbloc
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413dan
NES Member
^^ thank you for the concise reply. I have followed this thread for a couple years. It is what urged me to initially make a silver purchase of eagles.
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There are really two separate issues:
1. Is the bar real?
2. Will you have any problem selling it without an assay fee; the customer drilling the bar (risking the customer changing his mind after leaving you to try to sell a drilled bar); or having to sell at a bigger discount because only a few buyers are naive enough to accept it as good on its face or sophisticated enough to know how to properly and non-destructively test the bar?
I'll be honest I would love to be able to find someone local (and by local I mean in Nashua) that can use a spectrograph or whatever non invasive testing to prove that it is pure silver. if anyone knows anyone in this area that they will do it for a nominal fee I'm all in. I have concerns about selling it to somebody that wants to take a drill to it and decide nevermind. I'd rather be able to say here's the bar, here's a spectrograph read out, by it or don't buy it....
I had an offer from one perspective buyer to drive down to Boston to have him test it and then he would buy on site. I don't feel like driving into Boston........
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Too bad Gate City Coin is gone, they would have taken it without issue. I remember seeing those big, meaty Engelhard 100 oz bars in his safe. Some were deep blue/black from oxidation.
I don't remember him having any issue with buying cosmetically flawed bars. Also, Bob's Coin in Chelmsford, he'd give you spot-$1 for silver by weight and had a smelter in RI melt it down.
Problem with local AU/AG sellers is they are drying up as the internet kills what little profit they made...
Ron, I know you lowered your asking price by $0.10/oz, but in my humble opinion you may want to thing more like SPOT - $1~2/oz.
I know that won't make you happy... but it is realistic.
~Enbloc
I don't remember him having any issue with buying cosmetically flawed bars. Also, Bob's Coin in Chelmsford, he'd give you spot-$1 for silver by weight and had a smelter in RI melt it down.
Problem with local AU/AG sellers is they are drying up as the internet kills what little profit they made...
Ron, I know you lowered your asking price by $0.10/oz, but in my humble opinion you may want to thing more like SPOT - $1~2/oz.
I know that won't make you happy... but it is realistic.
~Enbloc
Nashua Coin is open and wouldn't take it. Recommended I take it to the coin show. I passed.
I have a buyer (more like 3 lined up). Going to meet him next Tuesday, but he wants to drill it to test. That's why I was asking about a tester that was non invasive. Another buyer wanted me to drive to Boston so he could test it (he has the equipment) but I hate Boston lol.
It's gonna get sold, I'd just rather it not be with a drilled hole...
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Good for you. I have no doubt that is a valid bar. If I was still buying, I'd have lined up too.
No drill holes, no questions...
No drill holes, no questions...
richc
NES Member
Gold has inched up some more on open tonight. Up around $1583. Seems like it wants to test $1600. Silver is about $18.20 at the moment.
The world is an uneasy place at the moment it seems.
The world is an uneasy place at the moment it seems.
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I’m fully expecting it. Most headlines stating shutdown of travel to/from China disrupting this global economy which in my eyes is on borrowed time to pressure the globalists. We need desperately to move back to a smaller government and local economy for the sake of the Republic.
FrugalFannie
NES Member
one of the most volatile of gold stocks to buy, no? GDX would be less volatile, no?
Was just talking the other night about buying silver mining stocks as we feel that the price of silver is undervalued. Gold is valued 88x silver where it's historically in the 40x-60x range.
Varmint
NES Member
GDX is a little less volatile yes. But the bigger difference is that GDX is made up of mostly major gold mining companies and royalty companies. The latter is basically a small office of a few people who sign deals with gold mining companies - for example they might pay a company $50 million cash in return for 2% of their future mining revenues. Mining companies desperately need cash, cause both exploration and mining are extremely cash intensive. Royalty companies have been doing great, they do best in bear markets and early on in bull markets for gold. So GDX was a great buy in 2017 or 2018.
GDXJ has some smaller companies in it, who tend to do well later in a bull market when stock buyers find the majors too expensive and go looking for smaller fish. GDXJ is a better buy now, imo.
We're in the middle of a pullback right now. I'd buy GDX at 26.5 and GDXJ at $37.
I don't own either one - I buy individual stocks - but I use a paid newsletter to pick them, plus I get a few ideas from the mining podcasts I listen to. I don't really recommend that unless you listen to 2+ hrs a day like I do (while driving). I probably listened to 100 hrs before picking a newletter to use. Individual junior mining stocks stocks can easily go up 10X, the best ones 100X. most of them go to zero, lol. But none of mine have gone to zero yet, a few have gone down like 70%, a few went down that much and are now above water. My best ones are up 2-3x so far, but we're early in this bull market.
Why buy mining stocks? Gold is like $1500 right now. Typical mining company mines gold at like $1200/oz, their cost. They might make $100 per oz profit. If gold goes to $1600, their profit just doubled. Gold goes to $2000, their profit is now 5x. The stock could go up 5x. And that's for big companies in production. Junior explorers can go up a lot more if they make a good discovery AND gold goes to $2000.
Varmint
NES Member
Forgot to answer the 2nd part. I do like silver mining stocks, though they for some reason were really hot this fall - they've pulled back quite nicely so now's a good time. There are so few good silver mining stocks that I think money piles into them.
Best ones imo are:
First Majestic Silver (AG)
Alexco (AXU)
Silvercrest (SILV)
SILJ ETF has all of these in it if you want a less risky investment.
SIL is the other ETF, which is bigger companies. More crappy companies in that one though.
Varmint
NES Member
With silver and the mining stocks not participating in this rally (silver is still 15% off its recent high while gold is back at its high), it's most likely a short-term fear trade that will fade once the coronavirus scare is resolved.
Silver and mining stocks will join the rally when the Fed signals the next escalation in easy money. The coronavirus could trigger that, so all bets are off at this point.
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