Can I get some feedback/advise regarding hand poured silver? I am a silver stacker who needs to economise to increase my holdings. I have become aware of an overseas operator who purchases bulk silver, on behalf of a group buying arrangement, and pours the silver on behalf of the group thereby reducing the buy price by virtue of the volume purchase. Is it happening in Australia and what are the pros and cons? All responses most appreciated
Freight costs? Hmmmmm We have some great members whom I hope might come forward to help you. In the meantime. Ummmmmm. The overseas thing. Could easily be ok. But you can call me a cynical old turd and I’ll agree
i bought some hand poured silver before price expectation range usd 20-25 at current spot of 14.30 usd it is not something to buy in huge amounts the mints are efficient enough to sell with low margins and in huge volumes i don't know how to poured silver, don't want to get burn
You might find a hand poured bar to be difficult to sell at a later stage. After all, its not marked with a mint stamp, assay, purity, etc. To sell through a bullion dealer would likely be class 'scrap' and get around 90% of spot (as they will only pass it on to a refiner/mint). Secondary market (fleabay,feebay,gumtry,you get the point) would also likely get a lower value as its hard to validate purity, etc. Also, add in the set up costs for the furnace, electricity, time, risk to injury and it becomes less attractive Arranging/managing a group/bulk buy (and getting a percentage for you time) however would likely return you a better increase to your holdings
