925 silver

[Damon]

Is 925 siver worth buying?

[Norskgeld]

Yep.

[Damon]

Bin offered 1kg of 925 silver in a block, he has his own auction business and gets it well below scrap price and pours its himself for £395 yay or nay?

[Pipers]

Yes i think 925 is worth buying.  If you are going to buy it make sure it is stamped 925 and it tests 925.   Some of the antique 925 sterling silver is just under 925 they did not have as accurate testing facilaties 200 years ago. 

[Damon]

Iv got a decision to make so do I go 925 1kg for £395 or 999 for £650kg what's peoples thoughts ?

[DarkChameleon]

2 hours ago, Damon said:

Bin offered 1kg of 925 silver in a block, he has his own auction business and gets it well below scrap price and pours its himself for £395 yay or nay?

 MY lcs does that too, probably more use in smaller bars so they can be remelted easier in future...some refiners are not fans of large ingots, too skittish about foreign bodies think...although under the gun all truth is told.

[Derv]

At a rough 7.5% silver difference for over £250 difference I'd be well in. Assuming it's definitely correct , as said if it can be tested even better. 

[Bimetallic]

8 hours ago, Damon said:

Iv got a decision to make so do I go 925 1kg for £395 or 999 for £650kg what's peoples thoughts ?

He's offering the Sterling for $17.57 per ounce of pure silver by my math, when spot is $24.00. Why? Seems strange.

Sterling might be less liquid with stackers. But I wouldn't expect such a huge discount to be real.

[dicker]

I must say it seems a little off...personally I don’t get it. 
 

Best

Dicker

[InvestInCoins888]

When a deal seems to good to be true... It usually is!

[Damon]

It's my coach from the my gym he owns auction business and pretty much for nothing well under scrap price then melts it into bars 

[SilverMike]

55 minutes ago, Damon said:

It's my coach from the my gym he owns auction business and pretty much for nothing well under scrap price then melts it into bars 

Why sell so cheap when he could walk into a pawnbrokers and get 95% spot, 90% on a bad day. Is he getting them hallmarked? If not its probably because your coach has no idea on the purity as he’s been throwing allsorts in. Complete gamble and likely against you as he’s making money at whatever price he sells you, you’ll regret it, buy some brits or a proper bar 👍

[SilverHoarder]

14 hours ago, Damon said:

Iv got a decision to make so do I go 925 1kg for £395 or 999 for £650kg what's peoples thoughts ?

You could always refine the 925 bar to 9999 fine using electrolysis in a silver nitrate bath then pour your own pure silver bars.  It's relatively easy to do.

[Damon]

[SilverHoarder]

So, where did the other 210.5g go?  Not as good a deal as your coach originally proposed and you're only saving yourself about £25 on the spot price of pure silver.  Bit of a bummer

[Jimmock]

This might not be correct,I might just be making this up. 😂😂 But dont all pm bars that are sold in this country have to by law be hallmarked. Maybe somebody like @BackyardBullion can confirm this or not.

[SilverHoarder]

3 minutes ago, Jimmock said:

This might not be correct,I might just be making this up. 😂😂 But dont all pm bars that are sold in this country have to by law be hallmarked. Maybe somebody like @BackyardBullion can confirm this or not.

You're bang on @Jimmock, yes they do.

[BackyardBullion]

5 minutes ago, Jimmock said:

This might not be correct,I might just be making this up. 😂😂 But dont all pm bars that are sold in this country have to by law be hallmarked. Maybe somebody like @BackyardBullion can confirm this or not.

Hallmarking is not a legal requirement for bars and rounds that can be defined as just simple bullion bars. 

It is when they start getting pretty and having nice artistic elements to them like hammering or pretty patterns and ripples that you get into grey areas of legislation. 

Personally I am very much of the mind that a pretty hammered finish bar with designs and stamps on it is NOT a simple bullion bar - which is why I assay and hallmark everything regardless. 

It is down to interpretation from trading standards at the end of the day - and I just never want to be on the wrong side of that. 

These bars, no need to hallmark. Make it pretty and add value to it - in my opinion 100% yes. 

[BackyardBullion]

I don't think you can call a hand poured art bar with nice stamping "raw material" even if it is in bar form. 

[Damon]

So buying 925 silver at spot price is not worth it then we saying ?

[BackyardBullion]

I should also add, Selling NON hallmarked silver that is required to be hallmarked on the second hand market can actually be an offence in the legislation too - so buying something from someone that is not hallmarking their silver and then you subsequently selling it at a later date could get YOU in trouble. 

[ShropshireTom]

15 hours ago, DarkChameleon said:

 MY lcs does that too, probably more use in smaller bars so they can be remelted easier in future...some refiners are not fans of large ingots, too skittish about foreign bodies think...although under the gun all truth is told.

Depends on the gun, the operator and the thoroughness of both. I’ve worked in metal all my life (until April this actually...love Covid..) and you wouldn’t believe the lengths people will go to to rip you off. Plenty of dealers have been stitched up - bales are worse than ingots to be fair, but ingots are often the target of a nefarious plan. You need to gun at 5 points along the length of the bar and then along the longest axis to be relatively sure. 

All of the above is with non-Pm non-ferrous, but of people the that hard to rip you off in the copper/brass/Ti/SS arena, I imagine there’s plenty that try in the PM world.

The Niton brand guns are best, but bugger me they are expensive! XRF in general have a very narrow band of detection, so although the penetration is good (so she said 🤣) the width of detection is, usually, not.

[dicker]

I buy 925 when the price is right.  See how unpopular it is....better price for me.  

[dicker]

I reflected in my comment and it is not meant to be rude.  I simply dont get why people don’t by 925.

I have over 20 kilos of 925 collected slowly over the years (all in coin format) and people really do dislike it.  
 

Best

Dicker

[SilverHoarder]

12 minutes ago, dicker said:

I reflected in my comment and it is not meant to be rude.  I simply dont get why people don’t by 925.

I have over 20 kilos of 925 collected slowly over the years (all in coin format) and people really do dislike it.  
 

Best

Dicker

I love 925 because it's usually way cheaper than spot for equivalent silver weight.  Chuck it through a refining cell and pour my own pure silver bars.  I need to get with it and start talking to the assay office though as it's time I got those bars certified.