This was posted 11 years 3 months 30 days ago, and might be an out-dated deal.

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1 Kilo Silver Bullion Bars (OPM) at Spot Price + 10c/Oz (E.g. $3 over Base Value of Bar)

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1 Kilo Silver Bullion Bars (OPM) at Spot Price + 10c/Oz (E.g. $3 over Base Value of Bar)
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LBullion Baron on 23/08/2013 - 10:41 bullionlist.com.au (1140 clicks)

I signed up to OzBargain to start sharing some cheap bullion deals when I see them. This is the first deal posted, but I've been a long time browser.

Normally you would pay around $20-50 premium over spot price for a kilo bar, but this deal is only $3.20 over spot. Bargain.

The product is: 1kg OPM Silver Bar

Bullion is not something I've seen listed on ozbargain before so I will be interested to see if people are interested.

Spotted originally at: http://forums.silverstackers.com/message-565746.html#p565746

These bars won't last long at this price.

I don't have affiliation with the deal, but have purchased through this company before.

Financial Bullion Silver

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closed Comments

  • AJW on 23/08/2013 - 10:45

    https://www.bullionlist.com.au/silver/opm/1kg-opm-silver-bar - is that the product?

  • bluedufflecoat on 23/08/2013 - 10:47

    What is postage like, usually? They require login to get rates… :(

  • mafmouf on 23/08/2013 - 10:50
    +32

    Thanks, I just bought 200 to start bricking my house.

  • hellbound on 23/08/2013 - 10:52

    What's the purpose of these? Do i just hang on to them and hope they increase in value before selling them? Where can you sell bullion at a decent rate?

    • pyramid on 23/08/2013 - 10:54
      +1

      You need to sit on this for pretty long once u purchase. Because bullion shops normally buy back but with low price. For example, if i buy 1 oz gold today for $1800 and i want to sell same today, they will give me only $1400-$1500.

      • gavt on 23/08/2013 - 11:01
        +4

        Yeah, it's called the spread.

    • Bullion Baron on 23/08/2013 - 10:59
      +1

      Yes as an investment asset for appreciation in value or in the case that fiat currency fails us… hard assets like Gold & Silver have no counterparty risk and intrinsic value. Or you can build a house with them as suggested above ;)

      Most dealers do buy backs or you can sell privately on the forum listed in the deal: http://forums.silverstackers.com

      • paddy567 on 23/08/2013 - 11:11
        +1

        "Intrinsic value"? Hrmmm.

    • ferguscan on 23/08/2013 - 11:01

      Spot price is the value of the underlying metal. It doesn't include the cost of minting the bars.

      EDIT: actually, that's not true. It's more accurate to say that spot is the value of silver bars when purchased in bulk. Whenever you buy low quantities of anything, you will pay a higher per-unit price.

      • jv on 23/08/2013 - 11:22

        Spot price is the value of the underlying metal.

        Yep, that's all it's worth…

    • Bullion Baron on 23/08/2013 - 11:01

      Most private transactions occur above the spot value of the metal. It's worth what someone else is prepared to pay for it.

      • jv on 23/08/2013 - 11:22
        +1

        It's worth what someone else is prepared to pay for it.

        That's how the spot price is determined… Supply and Demand…

        • Bullion Baron on 23/08/2013 - 11:29
          +1

          Supply and demand on markets like the Comex dictate what the spot price is, but the premium paid over spot for physical metal can be higher based on supply and demand in the physical market.

          By your logic (that metal is worth the underlying spot value only) the 1930 Australian Penny is only worth a few cents even though it sells for tens of thousands of dollars.

        • Cobalt_ on 23/08/2013 - 11:40

          Spot price = paper instrument price. Sit back and enjoy the great decoupling as paper (manipulated instruments) begin to fall over. Meanwhile I'll continue stacking while the prices are artificially low.

        • ozscharfschutze on 23/08/2013 - 11:48
          +1

          Spot price has little to do with underlying demand, more to do with underlying manipulation by the likes of Goldman.

        • Cobalt_ on 23/08/2013 - 11:51
          +1

          Goldman, JPMorgan HSBC and the rest of the parasitic "investment banks".

    • mycosys on 23/08/2013 - 11:02
      +2

      You also pay share brokers either a percentage or flat fee to trade shares, on top of what they are worth. You also pay futures traders a fee.
      The difference between this and the shops is you know what profit they are making over the price elsewhere and can choose by that. They arent going to do it for you for free.

      • jv on 23/08/2013 - 11:23

        You also pay share brokers either a percentage or flat fee to trade shares,

        That ceases to be a bargain then because you can't recoup that cost when you sell it (unless the spot price goes up)

        • mskeggs on 23/08/2013 - 11:38
          +3

          This is like arguing Coles should sell a bottle of coke for what they pay for it. The broker supplies retail, the spot price is at best wholesale (most futures contracts specify delivery to a central point, so you would incur additional storage or shipping costs).

        • jv on 23/08/2013 - 11:44
          -1

          This is like arguing Coles should sell a bottle of coke for what they pay for it.

          Most people don't buy Coke as an investment… There's no exchange to determine a fair price… It's a consumer product.

  • orin on 23/08/2013 - 11:00
    +15

    Never thought I needed a bar of silver but now I want it!

    • derkyft on 23/08/2013 - 11:02
      +5

      me too…. It's so nice and shiny. I want it!

      • andy19363 on 23/08/2013 - 11:55
        +2

        my….precious….

  • Jorkus on 23/08/2013 - 11:03
    +1

    If a currency fails, do people really start trading in shiny metal?

    • mycosys on 23/08/2013 - 11:10
      +1

      i think i would likely be more interested in petrol, food, or water myself - unless I was making electrical switches to trade for these and needed the silver

    • cannedhams on 23/08/2013 - 13:21
      +5

      Hell no. Its just a security blanket for gullible rubes who are frightened of the upcoming zombie apocalypse. Makes some stonking good money for brokers though.

      I always admire the two-faced chutzpah of the brokers that pitch physical bullion to mug punters. They always tell them that smart people should trade in their worthless paper money for dependable bullion. Then these brokers offer to sell physical bullion to these same people for (wait for it) paper money. If you can't tell who the sucker is, its probably you.

  • BuyoTheCat on 23/08/2013 - 11:04

    I'm stocking up in case of werewolves or really hairy people

  • one man clan on 23/08/2013 - 11:06
    +1

    This sounds like a really bad investment idea. Just buy some shares.

    • Bullion Baron on 23/08/2013 - 11:08
      +3

      A company can dilute their shareholders by issuing more shares, go bankrupt, takeover deals could mean you lose your holding without wanting to sell. They come with all sorts of counterparty risk if buying and holding through brokers… just buy shares? lol.

      • jv on 23/08/2013 - 11:26
        +1

        A company can dilute their shareholders by issuing more shares

        The money gained from issuing more shares is owned by the existing shareholders… It often goes to reduce debt or to buy new assets and is usually done to increase the value of the company overall…

        • Bullion Baron on 23/08/2013 - 11:33
          +2

          Or into the back pocket of management as the board increases their salaries.

          Or into exploration/research that doesn't result in additional value for the company.

          I'm not saying don't hold shares, but precious metals play an important role in any portfolio.

        • jv on 23/08/2013 - 11:46

          but precious metals play an important role in any portfolio.

          Most financial advisers focus on Shares, property and cash…

        • Daabido on 23/08/2013 - 11:46
          +5

          Best to stop talking now before someone thinks you sounds like a kook.

          There is a place for all types of investment, including the holding of physical bullion, without running around saying, "The sky is falling and look at that CEO who has bundles of cash stuffed in his pockets."

        • Bullion Baron on 23/08/2013 - 11:50
          +2

          "There is a place for all types of investment, including the holding of physical bullion"
          +1
          Bottom line, that is it. I've been called worse :)

      • jv on 23/08/2013 - 11:28

        They come with all sorts of counterparty risk if buying and holding through brokers…

        So hold them yourself… They're much lighter than Silver, you don't need to lock them up in a safe and will most likely increase in value more than Silver over the long term…

      • JeBs on 23/08/2013 - 11:39
        -3

        Yes, and a company can also initiate a buyback to do the exact opposite of diluting their shareholders. Out of all the companies in the ASX 100 for example, how many have you known to go bankrupt over the last 15 years? How many takeover deals can you name that have not increased value for their shareholders? Every asset class has risk, hence the point of diversifying your asset base. But given the price of bullion is massively above their long term average, if anything, they're likely to fall much further. But I would say stay away from the share market too right now which is also at a near all time high.

        • whiteflame on 24/08/2013 - 23:07
          +1

          why were u negging this deal?

    • hoxygt on 23/08/2013 - 11:59
      +1

      Lol, I'm pretty sure that's sarcasm :)

      • JeBs on 23/08/2013 - 12:37

        You are right if you're referring to the initial poster..

  • altomic on 23/08/2013 - 11:09

    um, how much is it?

    • had to click a link $831
    • mycosys on 23/08/2013 - 11:11

      goes up/down every few seconds with the spot price

      edit - 832.50 now

      • mafmouf on 23/08/2013 - 11:58
        +1

        Could have made a bargain in that time!

        • altomic on 23/08/2013 - 21:29

          yeah and now it's $829.96.

          i think it's time to buy.

  • altomic on 23/08/2013 - 11:10
    +3

    hey, let's buy tulips!

    • loremoon on 23/08/2013 - 11:20

      used to be worth millions, now, not so much :)

    • Bullion Baron on 23/08/2013 - 12:00

      What is this… I don't even, have I stepped back in time to the 1600's? ;)

  • altomic on 23/08/2013 - 11:12
    +1

    from the site "Made from 100% recycled metal"

    I want brand new silver for that price!!!

    • 51ngh on 23/08/2013 - 11:20
      +2

      Comes from dead werewolves ?

  • [Deactivated] on 23/08/2013 - 11:16
    +5

    http://silverprice.org/silver-price-history.html

  • robbyjones on 23/08/2013 - 11:26
    +6

    I'm getting a headache from trying to work out what a kg price would be based on the spot price per oz! I think I'll stick to investing in my mortgage. +1 from me for bringing something different to the table and answering people's skepticism and questions in a friendly manner.

  • Shlomo Scheinbaum on 23/08/2013 - 11:33
    +1

    This is probably not a terrible investment. The main driver for gold and silver prices is the jewlery market and the prices will only go upwards as China and India become richer.

    • hoxygt on 23/08/2013 - 12:04
      +1

      Not entirely true. The biggest drivers are world banks and lack of trust in paper currency. Here's a simplified view - http://www.usfunds.com/wdg/#.UhbCyC7R6ac

    • SomeGuyOnOzB on 24/08/2013 - 00:20

      Since you've mentioned India and it's interest in precious metals, here's an article that refers to a slump in India's interested in gold.

      http://m.indianexpress.com/news/is-gold-losing-its-safe-have…

      Also refers to a tax on gold being introduced in early 2012, in India.

      Note: I've only just googled for an article; this is presented here but I haven't done any fact checking to confirm what it says

  • ilostnemo on 23/08/2013 - 11:39
    +1

    Just remember gold and silver have no yield.

  • savara on 23/08/2013 - 11:41
    +1

    Hi Baron,

    welcome to Oz bargain. I think it is the best price for this.

    Cheers

  • holdenmg on 23/08/2013 - 11:48

    I really think this deal would pick up if they offered a DVD (or viewing) of Silver Bears
    http://www.imdb.com/title/tt0076715/ lol

  • fishandchips on 23/08/2013 - 11:52
    +1

    Why do you want to buy silver? How many household mum and dad buy silver, I know mum and dad buy gold.
    Why is it so cheap??????
    Are you sure this is not scam?
    I prefer go to shop, eg Perth Mint.

    • Bullion Baron on 23/08/2013 - 11:56

      I buy Silver mostly because I think it will rise much higher in price over the medium term (2-3 years).

      It is not a scam, I've made large purchases through this company in the past.

  • apophis on 23/08/2013 - 11:52

    Price for Gold and Silver is high over the three months trend, in my pov, not a good time to buy.

    Again, in my own opinion, it would be safer to buy from Perth Mint, every Perth Mint gold and silver bullion bar is stamped with The Perth Mint logo, its London Bullion Market Association (LBMA) registered mark. I am just not too comfortable buying American silver.

  • check on 23/08/2013 - 12:03

    You can buy Gold on the ASX. GOLD is ticker code.
    Easier (and safer) than buying physical bars.

    • Bullion Baron on 23/08/2013 - 12:09

      Or PMGOLD, which is the Perth Mint equivalent of the ETF you have listed. Or ETPMAG is the equivalent for Silver. ETFs and physical have different risks, so "safer" is a matter of perspective. Safety deposit box to hold physical can mitigate risk of theft. But you are right that the electronic equivalents are easier to buy (for those who already have a broker/account for transacting).

      • mycosys on 23/08/2013 - 13:53
        +1

        Many people buy physical negotiable instruments as a partial hedge against the collapse of the current financial system/regime - whatever your view on that action. It seems reasonable enough to me - it has happened many times before.
        [edit - note abn amro's recent default on physical silver delivery contracts]

  • hoxygt on 23/08/2013 - 12:05
    +1

    Could always make a nice gift - for that person who has everything…

    • pyramid on 23/08/2013 - 12:17
      +1

      A person with everything will buy silver mine and not silver bar…lol

  • RickOnOzBargain on 23/08/2013 - 12:42

    On a comparable site (place I buy from)
    for a comparable product they are neck and neck…
    ie 1kg PAMP Silver Bar 'Cast'

    $880.90 http://www.abcbullion.com.au/store/silver
    vs
    $880.95 https://www.bullionlist.com.au/silver/pamp

    Bullionlist loose out on the 15Kg bars too…
    $12,890.85 https://www.bullionlist.com.au/silver/more-silver-bullion/15…
    vs
    $12,798.90 http://www.abcbullion.com.au/store/silver

    • Bullion Baron on 23/08/2013 - 12:55
      +1

      Does ABC Bullion have a 1 Kilo bar for $3 over spot? No. That is why I posted the deal, it's a great bargain :) I'm not saying that every item listed on Bullion List will be the cheapest you can get it.

      • RickOnOzBargain on 23/08/2013 - 12:59

        Not trashing your deal!

        Just pointing out if you need 15Kg or prefer PAMP,
        best to shop elsewhere.

        • Bullion Baron on 23/08/2013 - 13:23
          +1

          If you need 15kg, you would be better off buying 15 of these 1 kilo bars at $3 over spot ;) Lower price and more liquid than 15kg bars.

        • RickOnOzBargain on 23/08/2013 - 21:45

          You are right on that 15Kg deal…
          I assumed too much.

  • RickOnOzBargain on 23/08/2013 - 12:46

    Also gold… $30.23 cheaper at abcbullion…
    If you are buying loads of 1Kg Gold bars that can add up to real savings!

    $49,617.40 http://www.abcbullion.com.au/store/gold/page/3
    vs
    $49,647.63 https://www.bullionlist.com.au/gold/pamp/1kg-pamp-gold-bar-c…

    • cwongtech on 23/08/2013 - 13:09
      +2

      Personally, I'd save up for one berkshire hathaway share.

  • savara on 23/08/2013 - 13:34
    +1

    I would prefer this over the I-phone anyday.

  • ccrap on 23/08/2013 - 13:54
    +1

    Thanks OP, keen on any gold bullion deals if you come by them.

  • Bob81 on 23/08/2013 - 15:30

    Does this come with an iPhone App?

  • Ninjabredman on 23/08/2013 - 15:37
    +1

    currently out of stock..

    i buy from ABC bullion, originally they had PAMP at ABC Bullion prices which was amazing, i wish wish wish i ended up buying when silver and gold dipped to it's lowest on the 28th of June ($699 for 1kg), i wanted to wait til the 29th cos it was my birthday and it didnt end up dropping in price ever since…

    someone post a deal up for a time machine sigh =\

  • Store RepJoey Bullion List @ Bullion List on 23/08/2013 - 15:46
    +7

    Hi everyone,

    I'm Joey and I work for Bullion List.

    To those of you who are asking "what's the point of owning bullion?" the answer is that it is an asset with a dollar value attached to it which can be traded. Like every other asset class, bullion comes with it's own unique attributes. We're not financial advisors (we don't pretend to be either) and we don't know what your personal financial situation is or what your investment goals are. Depending on who you are and where you're coming from, bullion might be a great investment option for you, or you might be better off putting your money somewhere else.

    One thing that we think people should be aware of is that our industry typically doesn't pay commissions/management fees/cash incentives to the financial services industry. For some strange reason(!) it is very difficult to find financial advisors who recommend bullion investment to their clients, even though we know many of them are investing in precious metals themselves. People have been trading in gold and silver for thousands of years and the fact that there are now pre-packaged, reverse leveraged, interest rate hedged, consolidated default contract swaps being traded now doesn't really make bullion any less relevant than it was a hundred years ago.

    Precious metals are simply an investment option that is available and, like all investments, you should do some research before investing in them (or not).

    If there is any interest, we'll be happy to look at offering a special on gold bullion products in the future, or anything else you guys might be interested in. Bear in mind that we operate on TINY profit margins, but we can put together some competitive deals.

    Thanks also to Bullion Baron for posting our sale on OzBargain.

    Cheers,

    Joey

    • savara on 23/08/2013 - 16:12

      Hey Joey,

      Please offer a deal on 1 oz Lunar horses.

  • Jorkus on 23/08/2013 - 16:07
    +5

    Here's a pic of the rep above. He Seems pretty unbiased to me.

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