Practical aspect of 1000 Oz bars

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#1 Mon, Jul 27, 2020 - 10:23pm
KG
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Practical aspect of 1000 Oz bars

Newbie here: I am considering a 1,000 Oz bar from a local, long-time, reputable source that is recommended by other silver holders I know. The price appears to be reasonable, much lower than 10x the 100 Oz bar rate.

What are the practical considerations of holding such a bar? Other than the simple size and storage issues, what should I consider as obstacles to redeem/trade/resale such a bar in the future? Is the market solely resale/trade back at the retail level? I see some websites offer purchasing: do you all have good/bad experiences? Are there other avenues direct to (smaller) financial institutions that may seek some physical holdings in the future? What should I expect from a prospective buyer at the time of resale? Will they test the bar to establish purity, etc?

I started silver in 2015 and presently have a nice little inventory, but no "big bar."

Tue, Jul 28, 2020 - 3:36pm
Island Teal
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WEIGHT

having moved a few pounds around in my life a 64lb bar is real DEAD WEIGHT.

I would think twice about it and also just handling it.

Tue, Jul 28, 2020 - 5:26pm
Pemaquid
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1000 oz bar

I asked the same question in another forum and didn't get an answer. I think Texas Sandman just took delivery directly from Comex on a 1000 oz bar. I am sure trying to sell this beast isn't an easy thing to do. I think if you chose to sell you my have to drive the thing to a big dealer. Would love more info as well.

Wed, Jul 29, 2020 - 1:51am
Titus Andronicus
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1000 oz bar

Probably, you'll regret it.

The only exception I can think of is when there is a drastic drop in silver and the physical is almost impossible to buy. Then you can buy on the Comex and take delivery or wait for the premiums to disappear.

The premium difference between 100 and 1000 oz bars is going to stay more or less the same. The extra you pay now will most likely translate into extra you get on the tail end.

Certainly, it will be harder to find a buyer. You'll be at a disadvantage. On the other hand, any dealer will buy 100 oz JM or eagles or maples or 90% junk.

90% junk silver is the way to go, if you ask me. My guess: the premium will probably rise more than any other form of bullion.

Wed, Jul 29, 2020 - 1:20pm Island Teal
BryanP
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Big bars

My coin shop guy had some he took in. I bought 1 for 17k and left it in his shop because I could not lift it alone. Sold it 2 weeks later for 18k. You don't want too many if you are not built like Arnold S. The 100's are much more manageable.

Wed, Jul 29, 2020 - 3:00pm
RangeRider49
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You can have big bars kept in storage!

KG wrote:

Newbie here: I am considering a 1,000 Oz bar from a local, long-time, reputable source that is recommended by other silver holders I know. The price appears to be reasonable, much lower than 10x the 100 Oz bar rate.

What are the practical considerations of holding such a bar? Other than the simple size and storage issues, what should I consider as obstacles to redeem/trade/resale such a bar in the future? Is the market solely resale/trade back at the retail level? I see some websites offer purchasing: do you all have good/bad experiences? Are there other avenues direct to (smaller) financial institutions that may seek some physical holdings in the future? What should I expect from a prospective buyer at the time of resale? Will they test the bar to establish purity, etc?

I started silver in 2015 and presently have a nice little inventory, but no "big bar."

I know you can buy 1k silver bars and store them with Gold Money in the Channel Islands where they should be very safe. When you need to cash out, you can cconvert some or all to smaller denominations, have tthem shipped to you (somewhat costly) or sell at spot and transfer funds to your favorite bank. Maybe that would work for you?

Wed, Jul 29, 2020 - 10:57pm BryanP
KG
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Things are getting crazy.

Things are getting crazy. Coin shop dealer told me today they were offered $3,300 higher than my purchase price two days ago. I'm considering putting it back on their shelf to see what happens. Maybe an opportunity to swap equal weight down to 100 Oz bars at a lower mark.

Tue, Aug 4, 2020 - 5:01pm
11IMIX
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Rather a 1000 oz bar than fiat $

I would imagine that if things rally as expected and "new investors" come flying into the space if there is a "mania" you would have no problem selling it. Some dealers may swap your bar out for 10 100 ozers. Then you can manage that. I personally would rather deal with smaller size bars but holding any size metal is a good idea.

I miss my old dog.

Tue, Aug 4, 2020 - 6:41pm
givenoquarter
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I love the 100 oz bars. I

I love the 100 oz bars. I have been sorely tempted to get a 1000 ounce chunk but I keep getting distracted by nice JM 100 oz poured bars instead.

Wed, Aug 5, 2020 - 9:07am
RangeRider49
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Silver

The gift that keeps on giving!

Wed, Aug 5, 2020 - 2:01pm RangeRider49
11IMIX
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Welcome to the party !

I see you joined the clownshow in July of this year. Allow me to welcome you personally to the party. Cheers mate. Tell your friends

I miss my old dog.

Wed, Aug 5, 2020 - 2:11pm
11IMIX
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phyzz

With the hard push towards outlawing cash just around the corner ( Sept ?) And the forced introduction of digital sh!tnotes by the same satanists that totally destroyed the current system I would have a stack as large as I could get my greasy little fingers on for bartering purposes to ride the storm out as long as I could until some dust settles. Then all bets are off as syringes face off against cold steel. Good times. People need to push back now so it doesn't come to that. Stand up. Be a man. Stack on. Buy a 1 ounce. 10 ounce. 100 ounce, 1000 ounce, generic round, bars. Pull up your Speedo to your chin and dance the Wango Tango ! Its go time.

I miss my old dog.

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