Auction: 125 silver 100 oz. bars -- Engelhards
Silver Stock Report
by Jason Hommel, October 8 2008
As you may know, the 100 oz. bars are the most
premium form of silver bullion available to investors. They are most
compact, easiest to handle, easiest to count, forms of silver available
for investors. The 1000 oz. bars are ugly, too heavy, odd
weight, at about 70 pounds, and impractical to ship. 1 oz.
rounds take up to three times more space. It is no wonder
that 100 oz. bars disappeared from sale before other forms of
I will auction my own nice, premium
brand, 100 ounce bars. They are in my safe, and available
for shipment immediately after the auction closes, next
I hope to use the proceeds from the auction to either
buy replacement 100 oz. bars from two people who have emailed me a desire
to sell bars, or I might buy and take delivery of COMEX 1000 oz.
I hope, one day in the future, to mint COMEX bars
into new 100 oz. bars, or 10 oz. bars or 1 oz. rounds, when an
acceptable and reliable mint can be found.
I'm listing this
auction at seekbullion.com
Terms: Shipping to within the USA only.
Auction ends middle of next week, October
15th, Noon, Pacific Time .
First, Register at seekbullion.com
now, it only takes 2-3 minutes to fill out the address form, and confirm
the incoming email.
Next, bid the "per bar"
price, not the "per ounce" price, and don't enter a huge
dollar amount for the whole lot. And specify how many bars you want,
at the auction site: seekbullion.com
So, you should bid around $1100 to $1800, and also,
the number of bars you want.
Minimum bid: NO MINIMUM
Minimum bid size: 1 BAR!
Rules. High bidder wins and gets first allocation, but the final
auction sales price will be the lowest price bid that is required to fill
the whole 125 bar auction.
DO NOT EMAIL ANY
BIDS! ALL BIDS MUST BE PLACED AT seekbullion.com
Winning bidder (or bidders) will be notified after the auction
on Wednesday October 15th, wire transfer instructions.
Wires must be sent by Thursday, within 24 hours of auction's
wires will be accepted. No checks, no Credit Cards, no
Free, insured, shipping, to anywhere in the USA ONLY,
included in the price.
Prices for 100 oz. silver bars
at ebay.com range from $1300 to $1800. One sold last week for
My first silver auction for 25 x 100 oz. bars, or 2500
ounces, was 9.5 times oversubscribed, and the silver bars sold for $4.01
Auction Closed: 25 silver 100 oz. bars, JM or Engelhards
August 29, 2008
My second silver
auction for 50,000 1 ounce Olympic Maples was 4 times oversubscribed, and
the coins sold for $3.00 over spot.
Auction Closed; Final Bids for 50k oz. silver
September 22, 2008
different this time?
Better for you: Longer lead time, 1
week, may give you enough time to raise cash to bid.
you: Using seekbullion.com, may allow more
competitive bidding in real time, and increased transparancy of the
auction process. The bid that shows up is not the highest bid, but
the "dutch auction" bid, which is the lowest minimum price needed to
fully allocate all bars to all bidders.
Better for you: Some
people may be discouraged by a more complex "sign up" process, and fewer
people might bid.
Better for you: No minimum bid!
you: I'm trying serve the market need, given that mints have dropped
the ball, and cannot meet demand.
Kitco - Pool program liability, little product,
indefinite wait times, as listed at their own website.
Perth Mint -
$880 million certificate liability, as listed in their annual
Johnson Matthey - 2 month wait times, not taking
AGR Matthey - shut down Australia offices???
Amark - JM's
primary dealer, mostly sold out, long wait times.
Mint -- 2-4 month delays
Monex -- $400 million US IRS
Goldline -- Sells "quasi - non - numismatics" on
In case you miss an email,
check the archives:
You can buy silver in
lots of 100-500 oz. at my auctions at www.seekbullion.com
Auctions end M-Th, Sat, At 7PM Pacific, but you can place bids anytime, 24/7.
Wires only. USA Shipping only.
You can also buy silver at www.momsilvershop.com
ship overseas, and also in lots of more or less than 100
See us also at:
4870 Granite Drive, Rocklin, CA 95677