Hi all, I'm new to stacking and can see I'm going to be consumed by this adventure for some time. I'm interested in investment purposes so I'm not going to want to pay premiums although I am going to want to own a bar from every mint across the world. So far I own ABC and I am interested in purchasing a 1kg Melbourne Mint bar. Is anyone selling one or know the cheapest way of obtaining one? Also, how do I know if it's real silver? I don't want to duped or ripped off. I recently bought a 1kg ABC bar from ABC (I now realise I paid a premium for it) but it didn't come with a certificate of authenticity, is that normal? And how would I go about getting it certified? Thanks in advance and I look forward to this journey. Andrew
As a Bullion retailer (previously) and now as a wholesale specialist I can tell you that certificates of authenticity aren’t worth anything. Paper is cheap. I would pay the same price for any kilo (well almost). If I buy a kilo with a certificate I destroy the certificate. If I buy a Melbourne Mint kilo bar I beat it with a hammer and then melt it into something I can resell. They aren’t a government mint like they would have you believe. Very little resale or industry acceptance in Australia.
If you are in Melbourne see Stuart at Goldmongers or the guys at Goldstackers. Levels 6 and 8 of 227 Collins St. They have XRF machines that can verify your bar for you. If you are in Sydney you can go to ABC in Pitt St. or Bullion List in Ultimo they also have XRFs. Also check out your local Silver Stackers Meetup.
Refiners on LBMA 'good delivery' list may justify paying a small premium for bars. Good deals can be found here on this forum offered by both individual and commercial sellers. Look around on this forum for sell prices and for how long it has taken to sell a bar and you'll figure out what makes sense to buy from an investment point of view. Start gradually building a knowledge base (spot vs premium for a given refiner/size of a bar) for yourself - then you'll instantly know if the price is right when the opportunity knocks. Be selective, think about long term and think if the bar will be easy to sell when the time comes.
