Question re: Engelhard's.. So when spot was, say, $20 higher than where it is now, what were the typical premiums like on, say, a "common" higher-mintage 10-oz poured Engelhard? About $20 higher per ounce? More? Less?
Why oh why?? Can someone explain to me the obscene premiums on Englehard bars? Obviously like numis people think they will hold a value above the spot.. I guess it depends why you stack, for me it's a hedge for a SHTF situation, in that instance I can't see any premiums being worth squat.. Please enlighten me?
Why do some people spend millions on paintings? It's just some paint slapped on a canvas, after all.. Not a whole lot of intrinsic value with that, is there. And some don't just "stack" -- but perhaps also "collect." That said, I've only got a few of the more "common" poured/cast variations out there. Probably going to stop here -- unless I can find one or 2 other types at a reasonable price (doubtful). No interest in the minted stuff. And I'll leave the more rare (i.e., expensive) pieces to the die-hards with deeper pockets. Different strokes, and all, I guess..
I don't think you cam compare art to a slab of poured metal, though I see where your coming from.. still, all gets melted down the same.
Well I'd have to say it's something you'd have to appreciate if your into that sort of thing, kinda like art. The premiums on bars(Not Blobs as another member here likes to call them) are associated with the collectability the same as numi coins are. Are they not? If not then why? They are pieces of history, some have unique serial numbers and some have low mintages that are extremely low. With the Engels in the pic above these will never be produced again because Engelhard no longer exists.
Beauty is in the eye of the beholder. And I've seen (and own) some pretty nice-looking pieces of poured art, Engelhard & otherwise. Do you, personally, buy only very plain bars & rounds? Why or why not? Speaking of plain bars, I stay away from certain Engelhard's because some are pretty boring, to me. I saw a bunch of those, and admittedly didn't "get" the whole Engelhard thing, at first. Then I started poking around more, and started seeing more & more examples of some really cool pieces. And as spot came down, so did some of their prices. Enough so that I ended picking up a few. One seller was getting rid of his because he was using the proceeds to pick up some generic stuff because spot had gotten whacked -- I believe he might very well regret that decision someday. As somebody already mentioned, they don't make these anymore, and never will again (save for any fakes). There weren't a whole lot to begin with, anyway.. And add to the fact that a bunch have been melted down over the years, reducing the populations that much more. Oddly, I heard that Engelhard's were originally some low-premium stuff, so the melting of them wasn't really a big deal. At some point, though, that began to change, and here we are today. As for paintings as artwork, eventually they, too, will likely suffer a destructive fate at some point, despite extensive & expensive processes for maintenance & protection. Still doesn't stop people from paying big bucks for just some paint slapped on a canvas. Can't fight nature/chemistry/human screw-ups. At least PM's can potentially have a better survival rate. And for the record, yes, sometimes people ask way too much for some Engelhard's. Doesn't mean they will be sold at that price, however.
Nice rare Engelhard.. https://www.youtube.com/watch?v=CfylyH20kE8 So many YouTube comments congratulating him for what he ended up doing with it. I say it was foolish.. https://www.youtube.com/watch?v=ltKlHUPTFao
Engelhard minted for SilverTowne.. 7th series, scroll about halfway down.. http://allengelhard.com/definitive-pages/engelhard-10oz-class/ & http://allengelhard.com/item/10oz-ag-ingot-p002311-silvertowne/
Regardless of the age on it (looks like a generic silver town bar), nothing special, not my thing - but maybe collectors are paying a premium.
I really like it. And with an estimated mintage of less than 300 -- and who knows how many are still surviving after 40 years or whatever -- I like it that much more. I definitely would have held onto it. Nice ROI on a net basis, but I wouldn't have sold it on eBay for a quick flip. Apparently the most recent owner paid $750 USD for it; an advanced search of sold listings on eBay more or less confirms that figure. I definitely wouldn't have paid that much for it; $350 would have been my max. However, there are some die-hard Engelhard collectors with deeper pockets than me, and that bar type just doesn't pop up very often. And I most definitely wouldn't have taken the proceeds & purchased a current Johnson Matthey kilo.. http://www.apmex.com/product/85203/1-kilo-silver-bar-johnson-matthey Seems like those are an American thing? Then again, I'm in the US, and I hate 'em. Awesome Engelhard -- but foolish move on his part, IMO. No offense, of course.
Seems like he's regretting it already. Stumbled upon one of his YouTube comments made today.. "I already miss my EngelTowne 10oz. :-("
