Newby wanting advice

Discussion in 'Silver' started by Ennisvale, Oct 12, 2019.

  1. Ennisvale

    Ennisvale New Member

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    Hi guys
    I’m new to the precious metals scene and just wondering if there are any brands of silver bullion to steer clear of?
    I have purchased a Baird and co bar but I am wondering it’s a good mint or not.
     
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  2. ozcopper

    ozcopper Administrator Staff Member

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    Baird & Co is Great. Just learn and stick to the big named brands like Perth Mint at first and you will be fine.
     
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  3. Ennisvale

    Ennisvale New Member

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  4. SteelHand

    SteelHand Member Silver Stacker

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    Location:
    Perth, WA
    Perth Mint (Aus)
    Queensland Mint (Aus)
    ABC Bullion (Aus)
    Ainslie Bullion (Aus)
    Royal Mint (UK)
    Royal Canadian Mint (Can)
    Scottsdale Mint (US)
    SilverTowne Mint (US)
    Sunshine Mint (US)
    Republic Metals Corp - RMC (US)
    Asahi Mint (US)
    Monarch Metals (US)
    Geiger Metals (Ger)

    That should get you going.......
     
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  5. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    What's more important is where you get it from, as there are many fakes out there. My list of places in order of safety is:
    1. Refiners such as the Perth Mint.
    2. Bullion dealers such as Bullion Now and Gold Stackers, in Melbourne.
    3. Members on this Silver Stackers forum with lots of good trader history. Not 100% safe, but this can be offset by the usually lower prices and occasional good deal.
    4. Stay away from places such as eBay and Gumtree.
    Also, if you're not buying from refiners or dealers you should learn some PM testing techniques. I expect that having a Sigma Precious Metal Verifier would cover most of your needs, but they are expensive. If your're prepared to learn some new skills you can get a lot of testing done using equipment costing less than $20. I've detected a lot of fakes using things such as small $10 pocket scales, magnets and water (for a density test). I have been lucky so far, and have always been able to get a refund when I've detected a fake.
     
  6. jultorsk

    jultorsk Well-Known Member Silver Stacker

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  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Wow that xray gun is cool.
     
  8. JOHNLGALT

    JOHNLGALT Well-Known Member

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    Baird & Co. is a well recognised brand (mint), but if you live in Australia & you are thinking of re-sale later Perth Mint is the best local Brand.
    Welcome to the world of 'REAL MONEY' (GOLD & SILVER). _JOHNLGALT. said that.
     
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  9. JOHNLGALT

    JOHNLGALT Well-Known Member

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    Having just said that, BULLION NOW & Little Coin Shop (one if which)=((same Peeeps)) are offering SPOT PRICE on resale (ye canny beat that offer). LOL. _JLG. (not my real name).
    P.s. Joe & Michael, JOHNLGALT, or the Country Victorian with the tight purse, is hoping for a discount next time in the BIG SMOKE LOLOL.
     
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  10. SilverDJ

    SilverDJ Well-Known Member

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    Baird and Co are fine. One of the cheapest premiums on the market.
    Less brand appeal than locals like Perth Mint or ABC, but if selling back at spot no one really cares, you'll find a buyer.
    As Goldeneye said, buying from a known good source is more important.
    Also, it can matter where you buy it from in terms of resale. Some dealers will offer better buy-back prices if you can prove you bought it from them.
     
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  11. JOHNLGALT

    JOHNLGALT Well-Known Member

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    Receipts DJ, Receipts, that's what you call them. I don't give a $#!T whether you give me an up-tick for being right (MUCHly).
    Buy from a reputably supplier like Perth Mint, or a reputable buy-back crowd who will pay you CASH, (not a cash cheque). ((danger, danger, Will robinson))
     
    Last edited: Oct 13, 2019
  12. Ennisvale

    Ennisvale New Member

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    Thanks Guys there’s some good info there.
    Will keep doing some home work and hopefully keep purchasing some more “real money”!!
     
  13. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I suggest that you attend tour local meets and hear from the regulars.
     
  14. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    It would want to be for $20K+.
     
  15. SilverDJ

    SilverDJ Well-Known Member

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    You are coming in at an interesting time. Silver is near 5 year highs in AUD, but still low in terms of the 10 year peak that A lot of people on here got caught up in and are still making a big loss from.
    The drop in the AUD hasn't help AUG metal buying prices recently.
    You might have missed the sub AUD$20 boat, that might not happen again. But it's next to impossible to tell where the market is going from here.
    World turmoil = prices up, in theory, so good to buy now. But don't underestimate how far down the road that turmoil can can get kicked, so prices could just as equally fall back making for better buying opportunities.
    The old adage "buy the dips" perhaps?

    upload_2019-10-14_11-36-45.png
    upload_2019-10-14_11-37-19.png
     
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  16. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    The Baird & Co 1kg bars are good looking and great value. You can't go wrong with them as long as you buy them from a reputable dealer like Goldstackers, Bullion now, ect.
     
  17. Mint Silver Coins

    Mint Silver Coins Active Member

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    Golden Eye, Hi, just to expand further on your post ... offering help to Ennisvale

    in order of testing:

    1). Ping Test (for coins and small bars) suspend the coin on the tip of your left pointer finger (over your bed, to cushion the fall in-case it drops, until you are practiced in "pinging") and tap it gently on the edge (rim) with a known real coin ... it should have a long "sweet" high pitched ring ... it if is a "short" duller pitched ring, it is fake ...

    You can also get a free android app called "Bullion Test" on google play ... which will give you an accurate reading (it is worth the $5 upgrade though).

    2). 500g Digital Coin Scales are best ... and make sure to get the increments as 00.00g (and not 00.0g) ... as it will give you an exact reading ... the coin should never weigh more than 10% over weight (those that do are re-smelted) ... so an under weight coin is always fake ... and an overweight coin can not be more than 10% overweight otherwise it is fake.

    3). Digital Callipers ... coins and (non-freeform) bars have a set dimension and width, that you can check using Callipers ... (Scales and Callipers can be bought cheaply enough from Ebay) ... you can find (weight, dimension and width) coin specifications online ... if you can't find certain specifications, please feel free to message me :)

    4a). Specific Gravity Test ... eg: the Specific Gravity of 999 Silver is 10.46 ... how you calculate the S.G. of any metals ... of any size or shape under 500g is ...

    A.) calculate the dry weight eg. the coin weighs 31.27g dry
    B.) then calculate the wet weight (I use a water bottle with the top cut off and a bent coat hanger)
    C.) put the "cup" of water and the wire hanger suspended in it on the scales and tare it off (water must cover the coin holding section)
    D.) carefully place the coin on the stand (without disturbing the water level too much)
    E.) so let's say the wet weight was 2.99g
    F.) 999 Silver dry weight 31.27g / divided by wet weight 2.99g = 10.46g S.G. (confirmation that it is 100% beyond doubt genuine)
    -.) another example is ... 9999 Silver 10 oz. coin dry weight is 313.51g divided by 29.90g wet weight = 10.49 S.G. (also spot on)

    TIP: you can also just tie a cotton thread around the coin and dunk it under the water-line ... to calculate the wet weight (or you can make a suspension stand out of a coat hanger as per the attached photos)

    4b.) With the Specific Gravity Test make sure the S.G is very close to spot on ...
    as China can mimic the S.G. of 999/9999 Silver ... with fakes made from anti-friction alloys. (with a S.G. between 9.4 and 10.6)
    999 Silver has a S.G. of 10.46
    9999 Silver has a S.G. of 10.49

    and with Gold it can have a wafer or core of Tungsten
    (Tungsten 19.60 S.G. is close to the 19.32 S.G of 9999 Gold)
    so you must also confirm, weight, dimension and width to be 100% sure.

    -.) I do not find the Neodymium Magnets to be of any use anymore, as the new anti-friction metals, that China makes the Silver fakes from, re-act like Silver.

    -.) If you have bought a fake from Ebay ... you have a 30 day Guarantee to lodge a claim ... if more than 30 days ... you have upto 180 days to make a claim on Paypal.

    PM Testing 1.jpg PM Testing 2.jpg PM Testing 3.jpg PM Testing 4.jpg

    I've created an easy to use, excel workbook file with a complete S.G. list ... for all metals and variations eg. 14k Gold or 15% iridium platinum ... you just simply need to enter the dry and wet weight data ... and it will auto-calculate the S.G.

    If any SS members would like a copy, just message me with your email address ... with the conversation titled as "Specific Gravity Test"

    I am also happy to answer any random questions, that anyone may have re: Precious Metals
    Cheers ... Toni (Mint Silver Coins) :)
     
    Last edited: Oct 19, 2019 at 11:00 AM
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