These .999 fine silver bars are produced and assayed in South Africa and conform to SABS (NRCS) standards of purity and weight. The .999 fine designation indicates the purity of silver as 99.9% or better. The bars dimensions are 50mm x 30mm x 8mm.
This auction price starts 15% below the normal retail price of these bars.
That's on top of an already smashed low on silver.
Silver in this form has an advantage in that it is easily identifiable as silver in a highly purified form. The manufacturer, purity and weight are stamped on the bar so, just like a coin, this form of silver is readily identifyable, saleable, and therefore in demand from investors. The smaller bars such as this hold a higher premium than say 1000oz bars, but are much more in demand and therefore saleable than larger bars. Unfortunately, manufactured silver in this form attracts VAT when new (included in the auction price). There is no VAT paid when sold on in the secondhand market.
It is now perfectly legal to own silver in this form in South Africa as as silver has been deregulated to conform with international practices. Silver is no longer designated a precious metal under South African law, and is therefore not subject to the restrictions that apply to metals such as gold, platinum and palladium. Silver is still however considered a precious metal as it is rare, and in demand as an investment or inflation hedge. Silver can also be considered a monetary asset, a store of value (a hedge against inflation), a fungible commodity and displays counter-cyclical behavior (zero correlation to the stock market and negative correlation to many financial instruments including the US dollar). In addition to it's investment attributes, it also has many industrial usages.
Please check "Shipping & Payment" tab for shipping options. Items can be combined from different auctions at highest shipping cost to save on postage. Insurance, if selected, will be charged on additional items.
Parcels will be dispatched within 3 working days AFTER payment has been received.
If full payment is not made within 3-5 working days AND there has been no reasonable explanation given, a negative rating may be given.
Collections can be arranged in Port Elizabeth, waiving the postage.
FAQ
Can you supply this in larger/smaller bars?
Absolutely. If you're interested, please contact us and we'll put some up for auction. We supply bars by a number of different South African mints according to your taste and preferences.
How do I know this is .999 Fine Silver?
We have our reputation to protect. We therefore only source our silver from reputable suppliers that we can trust. This is why we give a money back guarantee. If a buyer were to find they had received inferior quality silver or a substitute, a negative rating would severely effect our business. If you are happy with us, please take the time to leave some positive feedback to help future buyers.
How can I test silver myself?
There are a number of tests you can do depending on the form and what's at hand:
Pass a magnet over the silver. It should not be attracted to the magnet.
File a small V in your silver. It should be shiny inside too, else it could be plated.
Flatten a small piece with a hammer. Silver is quite soft and malleable.
Use an Ohm-meter. Silver is highly conductive.
Silver melts at a lower temperature than Cupronickel.
Pure silver is very shiny (unless tarnished).
A silver test solution can differentiate between silver, gold and copper alloys. Contact us to put this on auction.
- Feel and intuition. If you handle silver a lot, you will intuitively learn it's density, the sound it makes when dropped, and it's heat conductivity. Walk around with a silver coin in your pocket for a month.
Can you supply bars in gold, silver or palladium?
Absolutely. If you're interested, please contact us to put some up for auction. Precious metal bars are now also legal to own in South Africa. For many years this was not the case.
