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View Full Version : 1,000 ounce bar question


Jamesbong
09-24-2010, 11:41 PM
I gotta sell some of my silver, to pay bills. Where would be the best place to convert this to say 8 100 ounce bars and 200 1 oz. rounds. Would the taxman want a cut for just converting? I don't wanna sell the whole thing. I'm half tempted to take a sawzall to it and whack a chunk off lol. Any suggestions?

spotco2
09-25-2010, 12:47 AM
Check with a local dealer or pawn shop, but expect them to take a cut.

Nobody is going to exchange it 1:1.

HARDTACKWON
09-25-2010, 01:02 AM
in Winchester Indiana, I do not know all the sizes that they have, but
1-800-###-#### x ### Tony He is an Honorable man tell him Kentucky Kevin said God bless you

ingots
09-25-2010, 01:24 AM
your kidding right? where did u get ur silver? u think they only sell?
eh check there bet u they buy as well

br1150
09-25-2010, 01:56 AM
This one of the many reasons i don't buy +10oz bars


like others said you can find someone fairly easy just search around for local dealers but they are going to take their cut obviously.

you may want to post something in the buy/sell section, someone may take you up on your offer

easy8
09-25-2010, 02:24 AM
This one of the many reasons i don't buy +10oz bars


like others said you can find someone fairly easy just search around for local dealers but they are going to take their cut obviously.

you may want to post something in the buy/sell section, someone may take you up on your offer


Yeah, I always wonder why people would want to buy & hold these 1000 oz silver ingots? I can think of too many reasons why the 1 to 10 oz are the right choice for physical, but non for the 1K oz...

ingots
09-25-2010, 02:39 AM
lmao really?
why are 100 oz worhtless?
actually?

ingots
09-25-2010, 02:39 AM
Yeah, I always wonder why people would want to buy & hold these 1000 oz silver ingots? I can think of too many reasons why the 1 to 10 oz are the right choice for physical, but non for the 1K oz...

for money? maybe?

easy8
09-25-2010, 02:41 AM
lmao really?
why are 100 oz worhtless?
actually?


Yeah, they are... send them to me please, I'll get rid of them for you... LOL

ingots
09-25-2010, 02:41 AM
i know a con when i see one giddy up

easy8
09-25-2010, 02:46 AM
for money? maybe?



Not worth the trouble I don't think. I rather pay the extra premium..

easy8
09-25-2010, 02:55 AM
i know a con when i see one giddy up


Sounds like you don't believe me... LOL


but really, the 100 oz is border line to me, especially silver is going to be $50 $100 an oz.... :D

Jamesbong
09-25-2010, 05:17 AM
Yeah, I always wonder why people would want to buy & hold these 1000 oz silver ingots? I can think of too many reasons why the 1 to 10 oz are the right choice for physical, but non for the 1K oz...

This was the only reasonable silver I could find in 08 it was only .79 over. The only other silver at the time was $3-4 bucks over when I could find it, it had to be done. I could mail it back and pay a shipping fee+insurance+conversion fee. My local guy doesn't have near enough to work a deal. I'm leaning toward Silvertowne it's about an hour an a half ride each way, guess I could make a day of it.

gunDriller
09-25-2010, 09:09 AM
Yeah, I always wonder why people would want to buy & hold these 1000 oz silver ingots? I can think of too many reasons why the 1 to 10 oz are the right choice for physical, but non for the 1K oz...

A. they're pretty -

http://www.apmex.com/Resources/Catalog%20Images/Products/59074_Slab.jpg

B. that was all that was available for about 3 months in those months in 2008 & 2009 when the silver prices were way down.

Ten bears
09-25-2010, 10:46 AM
I understand the helpful nature of the responses to the OP's question, but please send all references and information on where to sell the bar directly, by private message.
Posting ph#'s and giving public recommendations of other precious metals companies is considered slightly ill form, since our host here, Kitco, is in the same business.

And thank you for your helpfulness to the OP & cooperation with us.

Ten bears

AntiSpin
09-25-2010, 07:28 PM
coin dealers will pay highest for one-ounce coins or rounds, and a little less per ounce as the size of the item gets larger.

Of course, they charge the same way -- get the best deal on a large bar, but lose it back when you sell it back.

It's just that they can sell the 1-ouncers more easily, while large bars might sit for a while.

ingots
09-25-2010, 07:32 PM
A. they're pretty -

http://www.apmex.com/Resources/Catalog%20Images/Products/59074_Slab.jpg

B. that was all that was available for about 3 months in those months in 2008 & 2009 when the silver prices were way down.

thats a nice hunk of plata

Copperhead
09-25-2010, 09:51 PM
You can have a 1,000 ounce bar converted to rounds. Sell in smaller lots, not to avoid taxes of course, but to get a better price. As G.G. says, a dealer has got you by the seam of your pants if they sense you must sell a large lot.

Jamesbong
09-26-2010, 03:19 AM
coin dealers will pay highest for one-ounce coins or rounds, and a little less per ounce as the size of the item gets larger.

Of course, they charge the same way -- get the best deal on a large bar, but lose it back when you sell it back.

It's just that they can sell the 1-ouncers more easily, while large bars might sit for a while.

Yeah I guess I kinda put myself in a bind. All in all I'm glad I got the biggin, I'm pretty bad about selling my generic rounds when I need a little extra cash sometimes.

Auric6
09-26-2010, 10:55 AM
Big is beautiful. And they make great door stops. It is also much easier to catch a thief trying to make off with one! And, you are less likly to sell on a whim, or to make up a minor cash short fall. The big bars are for the long haul.