Perth Mint 10oz 9960 fine bar

R

randomname

Member
Hello ladies and gentlemen, long time vanished but came back to ask a question.

I'm helping someone to sell a 10oz Perth Mint gold bar, 9960 fine. As many would have caught straight away, the 9960 fine part is the problem - the retail gold buyers I contacted offer (much?) less than the already sub-spot price due to the lower purity.

But the question is this: does this bar have any value/significance due to its age, or is it just scrap resale value for refining?

It was purchased directly from the Perth Mint by the owner in the very early 1980s, so over 40 years old for sure. There was talk/thoughts about refining it and re-melting into 1 or 1/2 oz bars but nothing ever eventuated.

So is it worth preserving it for value or historical reasons, or just sell it for scrap metal to remelt?

Image attached. There is a 4 digit serial number stamped on the back on the bottom of the bar.Image01.JPG
 
no many collectors are into 5ozs+…most will be on 2-3ozs, especially Au as they all have identical stamping…at end of the day, you need to consider spot-20% to liquidate this bar @ dealers due to its size…and not many dealers are into bar collecting, they’re simply there to make $$$

you hv more chances to get to spot price here in forum than dealers…F2F @ bank branch will be your preferred transaction on this beauty.

good luck, it’s a nice bar
 
Thanks for that. I checked with Bullion Now and that offer is only for up to 2-3oz, not 10oz bars. Plus when it comes to 9960 they all say the same thing that they pay lower due to refining. I even had one shark outright lie to me and say that 9960 is not investment grade and attracts GST, that's why he pays lower (we're talking typically about almost $2k lower than spot price).

I surmise refining might be the way to go as they simply try to take off too much. Plus also the big bar is broken down into smaller more easily sellable lots.

Someone suggested SBA Bullion in Bayswater. Anyone heard of other refiners in eastern Melbourne? Preferably not the city and DIRECTLY with refiner, not middle men.
 
randomname said:
Thanks for that. I checked with Bullion Now and that offer is only for up to 2-3oz, not 10oz bars. Plus when it comes to 9960 they all say the same thing that they pay lower due to refining. I even had one shark outright lie to me and say that 9960 is not investment grade and attracts GST, that's why he pays lower (we're talking typically about almost $2k lower than spot price).

I surmise refining might be the way to go as they simply try to take off too much. Plus also the big bar is broken down into smaller more easily sellable lots.

Someone suggested SBA Bullion in Bayswater. Anyone heard of other refiners in eastern Melbourne? Preferably not the city and DIRECTLY with refiner, not middle men.
Click to expand...
No refiner wants to deal with the public.
 
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I'd be fishing for someone with deep pockets and an appreciation for such a bar.
 
I believe there is a guy in the US with deep pockets who would appreciate your bar but I don't have his details. Maybe that is an option you can look at. It's great to keep these amazing pieces here in Australia, but at the same time it would be a greater shame to have it melted down.
 
When you dont have gold it is a problem and when you have gold like this that is also a problem....go figure....:rolleyes:
 
randomname said:
Thanks for that. I checked with Bullion Now and that offer is only for up to 2-3oz, not 10oz bars. Plus when it comes to 9960 they all say the same thing that they pay lower due to refining. I even had one shark outright lie to me and say that 9960 is not investment grade and attracts GST, that's why he pays lower (we're talking typically about almost $2k lower than spot price).

I surmise refining might be the way to go as they simply try to take off too much. Plus also the big bar is broken down into smaller more easily sellable lots.

Someone suggested SBA Bullion in Bayswater. Anyone heard of other refiners in eastern Melbourne? Preferably not the city and DIRECTLY with refiner, not middle men.
Click to expand...

He didnt lie to you, the minimum requirement for investment grade bullion is 999. Anything else attracts GST. $2k lower than spot price isnt that bad when no one else will touch it. Junk/scrap dealers will buy it but will probably pay even less.
 
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Fractionation is the name of the game going forward from here for those with the foresight to see where we are headed in the future.

Although I would stay away from anything smaller than that, as you will have silver for those smaller transactions.

And definitely stay away from those 1/1000 oz numismatic 'coins' that dealers are now selling for about $40!

Not only do they have an insane premium over spot, but you also need to carry a microscope around with you to see the damn things.
 
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Like when gold was money miners would take a few pinches of gold out of the poke to buy what they needed. It was just grams.

Might have to shave some coins down to a fine powder haha.
 
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