Premiums on bars

[Gunna]

Why are there such high premiums on bars being sold in the for sale thread. They are not numismatic but I sometimes 20% - 25% premium on a bar being sold in the sale section.

i cant fathom why a bar would fetch such high premium when really it should have no numismatic value whatsoever.

 

[spannermonkey]

Some bars do attract a premium
Engelhard's get a hefty premium , early ABC silver ingots get a healthy premium
Somebody sold a 1oz silver ABC ingot for $500 not long ago
I sold a Engelhard 10oz bar for $470

 

[Gunna]

So basically it's the stamp? So as soon as you buy based on anything other than the value of the metal content it is numismatic.

Is it because they are rare?

 

[spannermonkey]

Is it because they are rare?

Yes , generally mints that no longer exist ,
type in Engelhard on ebay & follow some of the links from a certain seller

 

[DanielM]

So basically it's the stamp? So as soon as you buy based on anything other than the value of the metal content it is numismatic.

Is it because they are rare?

numismatics relates to coins only, so a bar can never have numismatic value, it can pull in a big premium but it doesnt make it numismatic

 

[Gunna]

So basically it's the stamp? So as soon as you buy based on anything other than the value of the metal content it is numismatic.

Is it because they are rare?

numismatics relates to coins only, so a bar can never have numismatic value, it can pull in a big premium but it doesnt make it numismatic

Incorrect:

http://en.wikipedia.org/wiki/Numismatics

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes the broader study of money and other payment media used to resolve debts and the exchange of goods.

In my opinion, as soon as the items value is increased due to what is stamped on item it becomes in part numismatic. Generally this is a coin but it can also related to bullion. What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

 

[spannermonkey]

What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

Expansive
Pamp's sell for a premium from NEW
Pamp Numi's :lol: don't think so
Don't take anything on wikipedia as gospil
It's only one persons opinion
NO coin dealer would ever pay a premium for a silver bar

 

[DanielM]

So basically it's the stamp? So as soon as you buy based on anything other than the value of the metal content it is numismatic.

Is it because they are rare?

numismatics relates to coins only, so a bar can never have numismatic value, it can pull in a big premium but it doesnt make it numismatic

Incorrect:

http://en.wikipedia.org/wiki/Numismatics

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes the broader study of money and other payment media used to resolve debts and the exchange of goods.

In my opinion, as soon as the items value is increased due to what is stamped on item it becomes in part numismatic. Generally this is a coin but it can also related to bullion. What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

tsk tsk wiki really? you could have just edited that on there

 

[DanielM]

lambskins for change sounds like your doing

 

[SilverAteMyMonies]

Is it because they are rare?

Yes , generally mints that no longer exist ,
type in Engelhard on ebay & follow some of the links from a certain seller

Anything can add a premium. Some get a premium for being "pretty". I think someone above mentioned pamp bars. Scottsdale silver has brand new bars that sell for a premium. I'd say it all depends on what you want the silver to do. If it's just for bury in the backyard stacking then you probably want any reputable company with the lowest possible premium but that's not to say it's totally crazy to buy a few pieces because you want to that are at a premium. I've picked up a few pieces and paid extra just because I liked them. And I'm currently thinking about picking up a couple of silver bullets like the ones at http://silverbulletbullion.com/ because they look awesome. (if it's not allowed to put links to sites like this tell me so I can remove. I have no affiliation with that company and haven't even purchased anything from them yet) But for preservation of my monies, I'm sticking to my JM 100 oz bars for spot + $0.70 or AMark and similar for spot + $0.60

 

[Gunna]

numismatics relates to coins only, so a bar can never have numismatic value, it can pull in a big premium but it doesnt make it numismatic

Incorrect:

http://en.wikipedia.org/wiki/Numismatics

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes the broader study of money and other payment media used to resolve debts and the exchange of goods.

In my opinion, as soon as the items value is increased due to what is stamped on item it becomes in part numismatic. Generally this is a coin but it can also related to bullion. What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

tsk tsk wiki really? you could have just edited that on there

Down the bottom:

This page was last modified on 12 April 2013 at 04:22.

So no, I didn't edit it.

 

[SilverAteMyMonies]

Incorrect:

http://en.wikipedia.org/wiki/Numismatics



In my opinion, as soon as the items value is increased due to what is stamped on item it becomes in part numismatic. Generally this is a coin but it can also related to bullion. What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

tsk tsk wiki really? you could have just edited that on there

Down the bottom:

This page was last modified on 12 April 2013 at 04:22.

So no, I didn't edit it.

Lawyered!

 

[Scratchy]

From the perspective of buying bars and the premiums that go with such I would be more inclined to pay the premium for LBMA member bars more than non member bars with aesthetic appeal (Aside from normal due diligence on prices).

The main 2 LBMA members products for sale in Oz are the bars from the Perth Mint and PAMP.

Not saying others aren't good quality and some local producers bars are recognized for inclusion within SMSF and I would say they are on the money.

Personally I like the extra comfort that comes from the Perth Mint having met the exacting quality/purity controls and as such I can take the products anywhere with confidence they will have currency. I don't mind PAMP either.

Personal preferences, each to their own, but am certainly interested in any opinions on the LBMA angle / international recognition as opposed to rare / outdated products with manufacturers stamps who are Non LBMA members.

 

[Naphthalene Man]

... but they are second hand!!!!


:lol:

 

[DanielM]

Incorrect:

http://en.wikipedia.org/wiki/Numismatics



In my opinion, as soon as the items value is increased due to what is stamped on item it becomes in part numismatic. Generally this is a coin but it can also related to bullion. What would you call a 10oz bar that sells for 20%, 30%, 40% higher than another just because it has a different stamp on it then?

tsk tsk wiki really? you could have just edited that on there

Down the bottom:

This page was last modified on 12 April 2013 at 04:22.

So no, I didn't edit it.

I guess that makes me double owned

 

[Eureka Moments]

Why are there such high premiums on bars being sold in the for sale thread. They are not numismatic but I sometimes 20% - 25% premium on a bar being sold in the sale section.

i cant fathom why a bar would fetch such high premium when really it should have no numismatic value whatsoever.

They attract premiums because they are collectible due to being increasingly rare.

Another good example of this is natural gold nuggets, says I knowingly.

 

[Gunna]

Why are there such high premiums on bars being sold in the for sale thread. They are not numismatic but I sometimes 20% - 25% premium on a bar being sold in the sale section.

i cant fathom why a bar would fetch such high premium when really it should have no numismatic value whatsoever.

They attract premiums because they are collectible due to being increasingly rare.

Another good example of this is natural gold nuggets, says I knowingly.

So they do become numismatic then

 

[Eureka Moments]

Why are there such high premiums on bars being sold in the for sale thread. They are not numismatic but I sometimes 20% - 25% premium on a bar being sold in the sale section.

i cant fathom why a bar would fetch such high premium when really it should have no numismatic value whatsoever.

They attract premiums because they are collectible due to being increasingly rare.

Another good example of this is natural gold nuggets, says I knowingly.

So they do become numismatic then

Does an old car become numismatic if it is rare and collectible?

 

[Scratchy]

I understand they are second hand. I certainly understand Eureka moments point about collectibility / rarity.

But for some when reselling, the makers reputation / brand (LBMA) does factor in some instances as to price/premium and resale potential.

Five words and a smart emoticon, good one fella's, legends.

 

[spannermonkey]

They attract premiums because they are collectible due to being increasingly rare.

Another good example of this is natural gold nuggets, says I knowingly.

So they do become numismatic then

Does an old car become numismatic if it is rare and collectible?

Only when you send it to the crusher