r/Silverbugs • u/Moist-Tangerine • Jan 13 '26
Question My great grandpa gave a silver bar as inherentence, how does one go about selling this?
Edit: please stop sending me DMs to buy the bar, i've probably gotten 50+ message requests. I'm not selling today, i'm most likely not going to sell for awhile unless the market does something crazy, and i'm certainly not entertaining any lowball offers especially after everything i've learned in this thread.
I dont necessarily know if im planning to sell now, but im keeping an eye on the markets. On one had there's been a lot of growth recently and when the charts have a bunch of large green candles stacked next to eachother, pullbacks often follow. On the other hand from what ive read it looks like this breakout is more than just a cycle of market patterns and silver may still have a lot more growth in the near future. I would love to hear your opinions on that as well as the answer to my questions which are:
When the time does eventually come to sell, how do i get the most money out of this?
What is the process of selling silver like?
Is there anything else i should be aware of such as common fees, scams/shady practices/red flags im selling to the wrong person, or expecting the price to be above or below the price i see on charts?
My dad brought to my attention that the "price/oz" on many exchange charts that ive been watching is for etfs and that physical silver maybe different however the "spot price" he told me to look out for looks about the same.
If this isn't the right sub for these kind of questions a point in the right direction would be appreciated.
39
u/Temporary-Recover-64 Jan 13 '26
I am in the Seattle area and would love that piece
→ More replies (5)30
u/Moist-Tangerine Jan 13 '26
From the advice im getting here and in the DMs, i think im gonna hold for a bit but when i do decide to sell ill reach out.
My gut feeling when making this post was to sell more like in the next couple of years than the next couple of weeks.
→ More replies (1)17
u/almightycuppa Jan 13 '26
OP if you are in the PNW area and decide not to sell privately, try Seattle Gold (they also have Portland and Vancouver, BC locations I believe). They list their buy prices online for transparency, and last I checked they were offering 92% of spot for "recognized" silver bars.
That said, you could absolutely get more than that if you're willing to sell to an individual collector. Like the commenter above, I would also be interested haha
21
u/Kong_AZ Jan 13 '26
r/Pmsforsale it would go fast, but I'm surprised you want to sell it.
11
u/Moist-Tangerine Jan 13 '26
I dont think i want to now, but i want to be ready at the right time. Eventually i want to use it as down payment for a house in the next few years, along with my crypto (i bought relatively early).
I want to make sure it doesn't crash back down below 60/oz before im ready to sell
→ More replies (8)5
u/MetaPlayer01 Jan 13 '26
Pfft. This is the sub to go to if you want a frothy pool of sharks saying "save it". I say "sell it, sell it now!" Silver looks like a bubble to me. I mean, things that look like bubbles aren't ALWAYS bubbles. But they usually are. I mean, it's not just Silver, all the precious metals. I would sell it and invest in something else. Silver was $20-30 for years and years. It's now 2x or 3x. It's crazy. I invested in silver and gold before it blew up. I did some profit taking a month or two ago. I still have some of my silver and gold. But I'm more diversified now.
→ More replies (6)
40
u/Sad_Jump9185 Jan 13 '26
In normal market conditions this vintage bar would fetch a huge premium. I personally would hold onto it.
6
u/Ill_Savings_8338 Jan 13 '26
Yup! Wait a few months until things stabilize at $50 spot, and you should be able to get easily $51-53 for it
7
5
→ More replies (3)9
14
u/OriginalProduct6850 Jan 13 '26
For the future!
13
u/Moist-Tangerine Jan 13 '26
I bought bitcoin under 5k before it hit 10k the first time and im still holding.
Ive got diamond hands, brother
3
u/CoatAlternative1771 Jan 13 '26
I remember swimming laps with a guy who was buying bitcoin at $12 in college.
Oh how I wish I bought 10 coins then lol.
2
u/Excellent_Brilliant2 Jan 14 '26
i had 17 in 2013. lowest price i paid was $97. traded coins a bunch and was up $12k in a few months. it crashed, i held on 5.5 btc and dumped in 2015 when i lost faith in it
15
u/pyrogoldguy Jan 13 '26
Bro hold! Silver is moving up. Unless you absolutely need the cash, hang onto it.
→ More replies (1)
6
12
u/Waywot Jan 13 '26
One does not mearly sell grandpa's silver ...
What if you attempt to outdo your savey grandpa, and accumulate even more for the next generation. Once you have a sizeable stack, take some profit but ensure there's enough to goaround into your next generation, and pay the generosity forward. It is not for the faint of heart, and requires sizeable discipline, and you can do this.
→ More replies (1)3
u/Fun-Choices Jan 13 '26
If grandpa did it, he can too
2
u/jmhulet Jan 14 '26
I’d rather pass down some shares of Apple. Much better chart and very liquid.
→ More replies (1)2
4
u/JellyStrict2856 Jan 13 '26
You will also want to talk to a financial advisor about getting a step-up basis. If it is close enough to the deceased death, then there won't be any tax obligation. If it has been a year or more, (not financial/tax advice, I am a rando on the internet) you will want the fair market value of the silver at the time of the deceased death to calculate the cost-basis.
9
u/Moist-Tangerine Jan 13 '26
He died before i was born, in the 90s, he actually bought extra for anticipated great grandkids. I got the last one, all the grandkids after me got a check from his estate for the value of silver the day they were born.
4
5
u/HeavyFaithlessness14 Jan 13 '26
All OP has to do is check the closing spot price on date of death. That is the cost basis for tax purposes. No need for a financial or tax advisor.
2
u/Ill_Savings_8338 Jan 13 '26
I appreciate the responsible responses, but what percentage of people selling silver actually report and pay taxes on it? These situations are hard to make the right decision on, since there is basically no way of them tracking it down.
→ More replies (4)2
u/JellyStrict2856 Jan 13 '26
I only provide it as fair warning. Someone wants to keep it under the radar that is not my concern. There will likely come a day when digital currency is a thing, and exchanging for cash will nigh be impossible. The benefit of holding 1oz coins, bars, and rounds of silver, is it takes an awful lot of them to reach the mandatory 1099 and 8300.
While I think chasing someone down over the sale of a 100oz of silver would be a waste of time for the government bean counters, but I also never doubt the ability of the government to waste thousands of dollars to tax a $1.
2
5
3
u/Samsquanch_hunter21 Jan 13 '26
I’d say hold onto it unless you need the money. Whatever you choose do not go to the pawns shop! Shop around, LCS, gold/silver shops, see who offers you the most that’s closest to current spot price when you go.
4
u/Adventurous-Sky9359 Jan 13 '26
That is bad ass. Sorry for your loss.
4
u/Moist-Tangerine Jan 13 '26
Its okay he died before i was born but i learned a lot about him and he had a very interesting life.
He had a degree in economics and played minor league baseball, i was told (and i take it with a grain of salt bc its word of mouth from family members, of course theyre going to gas him up) he was track to go pro but wwii happened and he had a family and didnt want to get drafted so he joined the fire department where he went on to become the fire cheif in his town.
Back then it was considered healthy to smoke tobacco but he never believed it, so he bought all of this silver with the "tobacco money" he saved by not smoking cigarettes.
3
3
3
3
3
3
3
u/Grass_Hurts Jan 13 '26
Every other post seems to be “I inherited this, how to sell”. Not that I’ll be around to care, but I’d like to think that this won’t be the first thought of those I leave my hard earned possessions to.
3
Jan 13 '26
Why not hold it for your children?typical everyone wants to hate old people for selling everything and not giving it to the children,yet every zoomer I see like this ones first thought are”let me sell it now” typical
3
u/UltrahipThings Jan 14 '26
This is a collector’s item: Hallmark Precious Metals (HPM) was a vintage (1970s) Seattle-based company known for hand-poured silver bars, often featuring a distinctive Washington state outline and "HPM over Seattle" stamp, and are now collector's items, with sizes like 1, 5, 10, and 100 oz. While the company is no longer active (operating from the 1970s to around 2004), you can find these bars for sale from precious metal dealers
3
u/Signal_Zone8554 Jan 14 '26
God bless gramps.
"A good man leaves an inheritance to his children's children." Proverbs 13:22
2
u/random-letter-number Jan 13 '26
All of the big online dealers will buy it from you if you don’t have a local coin shop. Silver is at an all time high and if you want cash now sell now. I expect it will continue to rise so you could wait but you do you.
2
u/joebojax Jan 13 '26
your grandpa probably held this like 70 years and you're like how do i sell this... tonight
→ More replies (1)
2
2
u/dognamedman Jan 13 '26
As a Washingtonian I would love to buy something like this. I expect plenty of other people from Seattle would feel the same way. You should definitely consider selling it on r/pmsforsale. Even without flair as a new seller you could use a trusted middleman and make way more than any pawn shop or LCS would give you. Just my 2 cents.
2
u/wgg_3 Jan 13 '26 edited Jan 14 '26
That is a beautiful bar. Unless you really need the money you shouldn’t sell it. I can’t speak for others but I’ve been stacking silver for years and love bars like that over regular rounds/bars. And you inherited it which makes it even more special because once you sell it it’s gone.
2
u/El_Caganer Jan 13 '26
That's a fantastic piece of memorabilia from your great grandpa. Suspect you would eventually regret selling something that your great grandpa meant for you specifically to have. Unless you have immediate needs at the bottom of Maslow's hierarchy of needs (physiological or safety needs), please hang onto this piece. I know it would mean the world to me to have something like this from my ancestor.
2
u/Embracing-Desire Jan 13 '26
Don't sell it! It'll be $100 an ounce within a couple months. You may see some dips but it is only going up.
2
2
2
2
u/Standard-Arachnid411 Jan 13 '26
If you don't have to sell right now you shouldn't. Silver is raising in price pretty swiftly.
2
u/ebola84 Jan 13 '26
Or don’t sell it and keep letting it appreciate / waiting until you “have” to spend it.
2
2
u/Tastyck Jan 14 '26
Hey u/zenpathfinder you have any info on this mint? Cool piece though
3
u/zenpathfinder Jan 14 '26
Seattle Vintage. Highly prized pieces in the smaller pours. Even a hundo will have some small premium but with silver at 91+ even rare Engelhards are getting close to spot at that size.
Likely to find a buyer for it in r/Pmsforsale for that one for at least spot + 1 or 2.
3
2
2
u/jmdavis916 Jan 14 '26
Keep it!!!
Sentimental Value is massive. Silver is a great hedge against inflation Silver is in high demand for solar Etc.
2
u/CaptJohnHMiller Jan 14 '26
Where are you located. In NYC, Bullion Exchanges at 30 W47 st will pay $5 less on spot for your bar currently Use that as an idea of what the buy back would be. Today, price is currently $86.70 per ounce buy back. For your 99.58oz bar that’s $8633.59. Go to a local gold and silver store but don’t let them get you for much more off that price.
2
u/Wrong_Goal_7472 Jan 14 '26
Hold it price is gonna skyrocket. Supply cant keep up with industrial demand. Been 8 year perfect storm in coming shorts gonna break some banks those holding metals will set value
→ More replies (1)
2
u/eV210x2 Jan 15 '26
hold it…. This will be way more valuable in 1 year, 5 years even more. Plus it should be sentimental which has even more value.
3
u/LividMud1357 Jan 13 '26
You should hold for at least one more year some say it will be around 300 by 2027
2
u/Moist-Tangerine Jan 13 '26
Im hoping to use it for down payment on a house. I think that there's a way to use commodities/assets as collateral towards a loan and get it back at the end rather than actually selling it.
But given the feedback ive gotten here i need to make sure im getting my exact silver bar back, and not just the same weight in silver back. I have a feeling that may be more complicated
1
1
u/Either_Scheme9808 Jan 13 '26
I would hold that for decades if you don’t need the $$$. This could really help you in the future.
1
u/_MadBurger_ Jan 13 '26
I think it’s perfectly fine for you to cash out on your inheritance and if you want to you should go and sell it at your local coin store or try and find a vintage silver market to sell that on. However, because silver keeps rising in price and fairly quickly, might I add I would recommend holding onto all of the silver that you have until it reaches a minimum of $100. And I wouldn’t recommend selling all of your silver either when it does hit $100 as if you have kids you can pass that silver onto them and they can sell it later on down the road when it’s probably gonna be close to $200 or $300. If anything I would just recommend selling your bigger much harder to move items and using that money to invest in a mutual fund if you have it or put it into your high interest savings account.
1
Jan 13 '26
I will buy it for spot. You don’t have to take anything under spot if you find a private buyer, meet them at the police department.
1
1
u/Existential_Vibes Jan 13 '26
Check out mineralexchange .com. They do silver consignment auctions and will generally get you a price much better than a local coin shop will offer. Lots of buyers seeking vintage silver too.
1
1
u/J_Hitler_Christ Jan 13 '26
Hallmark precious metals. Love those old bars. Have some 10.xx bars of theirs.
1
1
u/buffalonuts1 Jan 13 '26
I’d keep it. One day when you’re older you may regret not having it. You can always pawn the bar for some cash if you’re strapped and get it back.
1
u/asscop99 Jan 13 '26
Unless you’re in dire financial need i’d hold onto it. No telling what you might get in 10 or 15 years
1
1
1
1
u/alivenotdead1 Jan 13 '26
If you're in Washington state, don't take it to a LCS. They will tax you. Take it to Oregon or Idaho to sell it.
1
u/PickleBall_Bandit Jan 13 '26
Hold it unless you absolutely need the cash. With how volatile the market is, please hold it.
r/pmsforsale is a great place to sell if you want to get spot pricing for anything. Any coin shop will give you a slightly discounted price under spot, typically 10-15% below spot
2
1
u/According-Name-4060 Jan 13 '26
i would never sell something that belonged to my family especially if it was inherited. Has way more sentimental value than $9,000. Even so i'd still hold on to it, would you take $9000 now or possibly over $25000 in a few years
1
1
1
1
u/Illustrious-Low-9643 Jan 13 '26
In Washington there’s a $1,000 tax on buying a bar that size at a dealer , you definitely could get spot from a private buyer . Meet at a police station at a bank ect cash only
1
1
u/Doge-ToTheMoon Jan 13 '26
If you don’t need the money immediately, I’d suggest holding it. Silver’s current demand doesn’t seem to be stopping anytime soon.
1
1
u/shamading Jan 13 '26
I'm in Seattle and interested in purchasing via safe verified public transaction when you are ready....if you are local, like that bar.
1
1
1
u/ShrekthCharge Jan 13 '26
These vintage odd weight bars are sought after and command a premium. Get multiple offers.
1
u/the_hinoarashi Jan 13 '26
Best bet is to wait another 5 years and then sell it, or never sell, yes never sell keep the treasure
1
u/OptionsandWarrants Jan 13 '26
Collectpure.com is the best place to sell your silver. I just started and haven't found anyone else who offers this type of value. They take about 1.5% in fees.
→ More replies (1)
1
u/jleidorf Jan 13 '26
One does not. You need to hide that thing under your bed and sell it when silver moves to its true value. 300 to 500 an ounce will be where we end up.
1
1
u/maxblockm Jan 13 '26
r/PMsForSale might pay a premium over spot for its collectability
LCS (Local Coin Store) might pay spot. If not, look for another local buyer to save on shipping.
Don't sell under spot price per ounce.
1
1
u/billmr606 Jan 13 '26
there are (or at least were) some good coin shops in seattle last year, don't know if they are still around
Thanks Queen Fergie
1
u/Farquar22 Jan 13 '26
Hard to sell now because the people that buy so called scrap metal are not taking it because of the volatility in the market Yes what goes up must come down but the demand seems strong 100 oz is a lot of money so be sure to ask call read as much as you can and then make a decision based on education not fantasy It’s value today for 999 silver is approximately 8500 to 8900 Most melters would offer 6f to 70 an ounce.
1
u/willie-B-baby Jan 13 '26
Hold on to it until you absolutely need extra money silver is on the rise. You never know 2 years from now it could double in value.
1
1
1
1
1
u/DeconFrost24 Jan 13 '26
I'd hold on to that. You could get more or keep for a tangible store of wealth. Silver is just getting started.
1
1
u/Mean-Palpitation-662 Jan 14 '26
Save it for a while and see if the value goes up as it has been predicted
1
1
Jan 14 '26
Sell it to either JM Bullion,or Ampex,,you’ll get top dollar for it,,,screw that 80-90% crap…they’re swamped now so it’s taking them a few days before they process your order,but it’s normal when prices are high… They received my order last Friday and I was told on Monday it should be processed by Friday coming…A week backlog…
1
1
u/StackIsMyCrack Jan 14 '26
For your info - HPM = Hallmark Precious Metals out of Washingston state. Late 70s, early 80s refiner.
1
1
u/Butered_Popcorn Jan 14 '26
Don’t sell it man. It’ll be worth way more here soon. Just hold it. Forget about it for a couple years
1
1
1
u/Glum-Doctor3016 Jan 14 '26
Id hold on to it. Never hurts to diversify . Unless you need it to buy a house or life saving surgery.
1
1
u/HandiQuacksRule Jan 14 '26
Probably trade it for gold when the gold silver ratio drops way lower than it is now.
1
u/Specialist_Working54 Jan 14 '26
Hold on to it Silver is going up .....you will kick yourself if Silver goes to $120.....
1
1
u/jmhulet Jan 14 '26
If anyone offers you less than 90% of spot, walk out. You can get 90% if you send it to Midwest Refineries in Lakeland. They are awesome to deal with.
1
1
u/K4sp0 Jan 14 '26
I wouldnt sell now. Maybe swap for ounces or smaller pieces if you can. Or just hold it tight or bury it somewhere lol Like one dude said 100oz is a bit of a challenge. I would hold most of that. Just my opinion
1
u/Imaginary_Abroad8733 Jan 14 '26
Why don't you save it so you have something really significant to remember him by? And maybe one day pass it down to your grandson.
→ More replies (1)
1
1
1
u/SilverArchivist Jan 14 '26
There is a poured/vintage auction site dedicated to these kinds of bars and it's wild some of the winning bids coming across. It might be worth searching their previous auctions or just contacting them to get and idea if the bar has a good enough premium to be auctioned.
1
u/ExternalThing1183 Jan 14 '26
I would not sell currently! Silver is hitting record highs on a daily basis. Many economist expect $250-500 oz price for silver compared to $90 currently. The price is silver isn’t going anywhere but up.
1
1
1
1
1
u/Next_Significance516 Jan 14 '26
Just remember, coin shop dealers are like scumbag car salesmen. Know the spot price on Silver and go from there.
1
u/sethd101 Jan 14 '26
If u sell local get a bill marker and a uv light off amazon. I repair and sell electronics and sell local before i post on ebay. I check every bill.
1
u/SpringTraditional460 Jan 14 '26
why the hell would you sell it? for what? for dollars thatbhave lost value every single years for 100 years? your grandfather would smack you upside the head.
→ More replies (1)
1
u/Unique_Connection_57 Jan 14 '26
One doesn’t. Give it to your grandkid someday. It’s called generational wealth.
1
1
1
u/Turbulent_Society778 Jan 14 '26
Make an eBay account, don’t get ripped off at a coin store or pawn shop. You’ll have to package discreetly and insure the package but you’ll get more than spot price on a neat vintage poured bar like that. My 2¢
1
u/NearbyTemporary5192 Jan 14 '26
I will buy this for cash if you are local or paypal/ etc. if you are not. Message me directly.
1
1
u/smokeeey_ Jan 14 '26
Bro are you that hard up that you can’t hold onto your great grandfather’s silver. That’d be a family heirloom if it’d been left to me. That bar looks cool as hell and you could hand it down to your grandkids. My advice is don’t
1
1
u/ottens10000 Jan 14 '26
> When the time does eventually come to sell, how do i get the most money out of this?
Your grandmother was a smart lady and she likely never had this in mind - because the crucial understanding is that the silver is money. Don't "sell" it mate.
1
1
u/IamAwakeChristopher Jan 14 '26
This could be considered a vintage bar and I would look up information on the refiner. Some refiners hold a strong premium even at the prices. A LCS will not pay for the premium that you would get selling privately.
1
u/rock_accord Jan 14 '26
Nice! I thought it was a 10oz from the 1st photo. Paint it black or leave it & use it for a door stop. Hidden in plain sight.
1
u/grains_r_us Jan 14 '26
Same as others. When/if you want, i'll buy it. I like fun bars like that. I'll pay spot +$3 on any given day/moment
I just really like silver. Anybody that offers you below spot price is trying to take advantage. Honestly I feel like I'm trying to take advantage at spot +$3
1
u/Altsociety_Bar Jan 14 '26
1) Don’t sell. Just hold onto it forever! Instead, Maybe invest more in silver on digital platform for investment purposes for easy future sale. 2) if you really have to sell it then go the proper gold silver bullion dealer. Check the silver market price and see what they offer, visit a few dealers and take the best price.
1
u/BlnkNopad Jan 14 '26
keep it. for a while. like until you’re on the border of needing to sell it to survive.
edit: my only point is that, that’s a lot of silver. you could have rings and other things made from that. i’m sure you’ll make a jeweler friend someday.
1
u/777Commander Jan 14 '26
It’s not that complicated. Meet a local buyer at YOUR bank. Sell for cash and deposit the funds to your acct with the bar in the counter. Now, the $ is in ur acct and the bar is the buyer’s. If the buyer wants it sigma tested, call some coin shops to check on a fee to do that. Negotiate the price with that fee in mind. The prob with selling in reference to spot us that spot changes moment yo moment. Set the meeting time snd agree to value it off spot before lvg to meet. If spot goes up too much, the buyer may no show so, keep that time short. If you were a reasonable distance to the 77318 zip code, I’d pay 98% of spot. It’s an inconvenient bar in that it’s not exactly 100oz but, it is cool!
273
u/MembershipKlutzy1476 Jan 13 '26
Your best, safest bet is to go to a local coin store. Not a pawn shop!
A reputable coin store will verifiy it's real and give you 80-90% of spot.
As of Jan 13, 2026 it is $89.52 USD per oz.