Anyone who says "silver is silver"

[jim4silver]

Probably is just parroting what they heard someone else say. Why prefer Gov minted stuff? Because the Chinese fakes of the gov minted stuff are crap compared to how good they make generic (private minted) bars. Anyone who would buy a gold bar in this day and age is really taking a chance.

I used to say "silver is silver" before all the good fake generics started coming out. Now I say otherwise. The weights have gotten spot on and the fakes are not magnetic.

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Just my opinion.

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Jim

 

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[jim4silver]

I think you always had to be careful. I agree, you have to watch even closer today.

Even years back people were drilling and filling silver bars with lead then capping and machining with silver. Since the beginning silver and gold anything has been counterfeited. They are just getting better at it now.

Silver is silver. If you understand silver! lol Too many people are just buying whatever they can not understanding anything about what they are buying Or how to even sell it.

Nitric,

I agree with everything you said as of right now. My thoughts are if you have real generic silver that happens to be similar to the Chinese types, what will be the effect in the future when and if silver gets to $100 and you go to sell? I imagine most coin dealers would be checking everything they buy and perhaps having to saw open bars - one of my old time coin dealers said that back in 79-early 80's they had a band saw put in the shop and were sawing many of the larger bars to determine if drilled and filled. If that were to happen again, the buy price will be much lower for those generic than those coins that don't have to be destroyed and remelted. I am just speculating on all this of course but can anyone see a scenario where having generic is better than gov silver (not counting the higher premium)? I can't, but I can see where having the gov silver is better than generic.

I have seen fake silver rounds/coins in some of the local stores. I have even accidentally purchased a couple in the past. I had some of the Johnson Matthey one ounce fake bars in the individual plastic holders. They looked perfect (maybe too shiny) but weighed right and had a sound somewhat like a silver ring (not exact but close) and was just slightly too thick but not by much.

Thinking down the road 5 to 10 years as silver goes up the good and probably by then even better Chinese fakes will be flooding the markets far more than now. I would imagine that the roughly $2 over spot higher price compared to generics one has to pay now for getting silver Maples or Eagles will easily be recouped in the future as the dealers (and public) will prefer it to generic. So even if both items are pure silver, if one is more preferred and valued you will make a higher profit selling the preferred one.

I have a good amount of generic 1 and 10 oz bars that will be the first silver I sell whenever that day comes or if I ever decide to sell silver to buy gold once the ratio tightens again.

Just my opinion.

Jim

 

[Marchas45]

This is why I have the Precious Metals Verifier. Great Tool but a wee bit expensive. Keep Stacking

 

[FreedomUIC]

I always try to buy from a reputable business, either Silvertowne or Provident. In my mind it eases
the worries a little. I also buy only Silvertowne Bars (10 toz) or NTR (10 toz) bars. I do have a tube
of OPM 1 toz rounds but I am not worrying to much about them.

Maple's are my favorite and cost a little less than Eagles but the premium on the Government minted
rounds are $1.00's more than on generic right now. I am trying to get the most bang for the buck.

I think my next buy will be Junk silver, maybe a $100.00 bag.