Topic: Buying silver @ spot for BTC or LTC - PM ME (Read 6022 times)

update

Pretty much. The same can be said for cryptos, but the difference is crypto has more utility, liquidity, and speculation. The fact is ultimately they are both a store of value and they don't really rise, everything else falls. So in the end for me it is really about diversifying my assets than having a store of value. A "don't keep all your eggs in one basket" type of thing.

It's funny, people keep saying to keep piling into silver/gold for their inevitable rise. You diversify but it's more as a store of value, right? Such as keeping the approx. same purchasing power and not being diluted due to inflation?

Sorry about the delayed answer but it's summer time

Yes, I bought them from eBay but I don't the list of sellers now. However I can tell you how I catch that there are fake bars - by volume! As all ordered bars was 1oz, they all should have the same volume (W x H x Z). But then some came with a higher or smaller volume from previous and this raised my suspicion.

Than you and for the advises how to test it.

That is a good reason to cash in your silver for some cryptos... I am just doing it to diversify. Crypto is growing much faster than silver. Take advantage.

I wish they would quit SLAMMING the silver price.  Its hard to decide spending money on silver or cryptos....

This is interesting! something a lot of people may not know about, thanks for posting!!

There are a few things you can do to test, and I use multiple methods. It can often be simple to fool one test, but if you use multiple tests it gets much harder. BTW where did you buy them from? eBay I assume? Some pictures would be appreciated if it is not too much trouble. I like to know what the recently circulating fakes look like.

1. Try to buy from known trusted vendors.
2. Know what legitimate bars/rounds look like
3. Know what the genuine coloration/finish looks like
4. Check weight, anything significantly higher or lower than the stated weight is a bad sign
5. With acid tests it is best to sand down an area to make sure you are not just testing a silver plate. Many acid test kits include a block with which to do this. You can test what you scratched off directly on the block.
6. A simple test you can do is place an ice cube on your silver and see how long it takes to melt. Since silver is highly conductive it should melt very fast. You can compare with a bar you know is silver to know how long it should take
7. Check the tone of the sound it makes when it is tapped with a hard object. Real silver has a very distinctive ringing tone
8. Silver is diamagnetic, this means it will create an electrical field around it when it comes into contact with a strong magnetic field. If you run a strong neodymium magnet over your silver you will feel resistance as you pass over it. Be aware other metals are diamagnetic as well, so this test alone is not proof.

There are more, some are simple, some are expensive. Do a little research and you will find there are plenty of ways you can simply test your bars and rounds to be sure they are real.

I'm curious how do you authenticate the bars you are buying?

As few months ago I bought 7 silver 1oz 999 bars from different locations. And i ended with 5 nickel! All of the nickel bars were perfectly coated with 1mm 999 silver and tests originally reacted to silver.  Then just when i start having some suspicions due to bar's size, re-applied test at the same spot few times shown that the bars are not silver.

PMed

I have like 16 generics if you are still interested.

Thank you, I will.

The main point of the post was so I could track this thread. Hope that's okay with you. I only have a few bars to sell, not much, but you are correct I could make the amount back pretty easily. I'll keep it in mind.

Sure, you could do that, but I might not be buying then. Additionally the way Bitcoin is moving you should have plenty of opportunity to make up that small loss. I am only buying silver to diversify my holdings and don't expect it to rise dramatically any time soon (unlike Bitcoin). Let me know if you change your mind.

So, I want to sell silver to you, but I just realized over the past 8 months, silver has really dropped in price.

Once (IF) it raises back above ~$19/oz I'll contact you. I would like to get a few off my .99/.9999 bars hand.

PMed. For future reference please refrain from posts above spot price unless you have something of significant numismatic value. The title says spot price, I mean spot price.

I have 90% Washington Quarters and Roosevelt dimes - somewhere around $50 Face Value.  Average circulated condition.  I would sell at 13.6 x Face Value plus shipping.  Offer good with silver below $18/ounce

I would not ship first so please review my history and trust to decide if you are comfortable with that arrangement.  I am also willing to use OgNasty, minerjones, or Zepher as escrow but you pay the fee.

I own a Sigmametalyics Precious Metals Verifier as shown in my post history and this photo:



The Sigma tests US 90% well (gold shown in photo)

Edit to add, I also have the 10 oz 0.999 Fine Silver bar shown below.  I would sell at spot +0.50 / ounce



PM if interested.

Cheers!

PM sent.

I have a 1964 JFK Half Dollar which is 90% silver.
The coin itself is in good condition [not graded] and is tarnished.

I have a sterling silver bracelet which I no longer wear. weight = 22g

I have an 18ct gold ring which i traded for a U.K "Half Crown"
about 20 years ago and is damaged and which my fingers have outgrown. weight = 0.10oz ?

I also have a silver tie pin weight = 0.05oz ?

Images available if interested


EDIT June 06, 2017, 09:59:39 PM: Erm I think my post might not be what you are looking for
in relation to the jewellery but I'll leave it up anyway. Apologies in advance

Sure, send me a PM of what you have. Thanks.

lel what? Anyways OP are you still interested in purchasing silver for BTC?