Looking for valuation on 10oz Engelhard poured bar

[Kanav]

Hi, I recently purchased a 10oz Engelhard poured bar and was wondering if someone could give me a valuation on it in terms of premium value.

[CoinFinders]

Hi!  Glad to help.  I'm familiar with the way these are sold in the US -- your mileage may vary.  🙂   Generally, these bars are considered "generic" or "rough poured" bars.  Yep, they are manufactured by very reputable firms, but that doesn't give your 10oz bars any kind of premium.  For example, the 10z silver bars (.9999) from the Royal Canadian Mint are selling for a $2 per ounce premium over spot; that same bullion company will buy your 10oz RCM bars for a $1.10 premium.  You should've been able to buy these bars for a small premium over spot, and most bullion dealers I know will buy these rough bars for a small premium below spot.

This doesn't mean you got a bad deal -- silver is silver and will always be worth spot on any given day.  The issue becomes when it's time to sell.  If prices are higher and on the rise from  when you bought, you should be able to sell for spot to a reputable dealer.  It's all about supply and demand on the day you decide to sell.  I'm also concerned about dents and marks on the back side of the Englehard bar.  It appears this bar has been assayed a few times along the way.  Were you able to verify this bar weighs exactly 10.0 ounces?  Thanks from Scotty at CoinFinders

[Kanav]

43 minutes ago, CoinFinders said:

I'm also concerned about dents and marks on the back side of the Englehard bar.  It appears this bar has been assayed a few times along the way.  Were you able to verify this bar weighs exactly 10.0 ounces?  

Yes, it weighs 10 troy and I did magnet test.

43 minutes ago, CoinFinders said:

Generally, these bars are considered "generic" or "rough poured" bars.  Yep, they are manufactured by very reputable firms, but that doesn't give your 10oz bars any kind of premium.  For example, the 10z silver bars (.9999) from the Royal Canadian Mint are selling for a $2 per ounce premium over spot; that same bullion company will buy your 10oz RCM bars for a $1.10 premium.

I wouldnt sell this bar to my LCS or a dealer. I am going by the prices on ebay and there is a collector market for these old engelhards. I got an offer off craigslist for 10% over spot and talked them up to 15%. 

[CoinFinders]

AH!  I hadn't thought of selling these as a collector item -- well done!  I was thinking strictly as a bullion transaction.  And eBay is probably the best place for this kind of transaction.  However, I know several big bullion dealers, and not a one of them would buy this coin with a collector's premium -- they would either resell to a customer, or send it off to get melted.  Scotty

[Kanav]

12 minutes ago, CoinFinders said:

AH!  I hadn't thought of selling these as a collector item -- well done!  I was thinking strictly as a bullion transaction.  And eBay is probably the best place for this kind of transaction.  However, I know several big bullion dealers, and not a one of them would buy this coin with a collector's premium -- they would either resell to a customer, or send it off to get melted.  Scotty

Yea on https://allengelhard.com/10oz-draft/ you can see the tier that old Engelhard bars are placed in. Mintages under 1000 are usually tier 1 on the pyramid and the lower the mintage numbers, the higher the price in terms of collectibility. Things like the "Bull logo" on the bar I have or floating decimals on the weight stamp give it more value like this bar pictured below.

[SilverStud]

From my experience, I would say $300-400 USD

[STONE]

Its worth what someone will pay you for it. Engelhard bars are a whole different ballgame because there is a collectors market for them. I am one who collects these and watch's the market daily for ever increasing stock of these. I encourage you to go to, https://allengelhard.com/definitive-pages/investment-rating/  And do some research there. Condition is important to a collector like me especially if I am paying high dollar for a rare bar. To be honest your bar is pretty beat up which will detract from the value. I second SS's evaluation except I would put it closer to the $300 mark. Personally I wouldn't go over $250.00 for it because right now the market is saturated and great deals can be had on better condition bars.

 

 

[STONE]

Here's a couple of mine:

[flim]

unless it is a 5 oz, then the price is the same as the 10 oz

the price guide are very much close to what the above posts estimated 

minimum 1.5 x bullion price up to what buyer is willing to pay.

[STONE]

I would also highly suggest to the OP to do some serious research on the Engelhard bars as there are fakes out there and subtle differences can make all the difference in the world. Watch the auctions on Ebay from the sidelines, you can learn a lot...

[Kanav]

Thanks for all the replies. Much appreciated.