I first got into precious metals around 2003. After I got slammed in the stock market I thought it best that I invest in real tangible physical metals. Each year I bought more and more bullion. In 2010 I decided to purchase a JM 1,000 oz Silver Bar. I saw that I could save about $200 by buying the BIG bar over 10 100 oz bars. So, when my package came it was taped up in a Green Monster Box (silver eagle container). It took me awhile to lift the thing (weighed about 74 pounds). I kept it for about 1 year and then decided to sell when the prices of the metals went way up. I think I bought it around $18 an oz and sold around $31 per oz. I ended up having to drive it to the bullion dealer (Apmex). Right then I decided never to purchase a 1,000 bar again. The savings on the purchase really didn't help, because when you sell a bar that big then you get less for it as well.
I myself like the 100 oz'ers. They are pretty portable and easy to sell to anyone around. Also, they are hard to loose. I know many of you will say coins are better, and they do have their benefits.
So, when I did bring the 1,000 oz bar to the Apmex location in Oklahoma City, I was met by a guard and an Apmex attendant. Pretty fun day. However, as I said before, I will never buy a 1,000 oz bar again. What was I thinking. So if any of you get the urge to purchase one of those huge bricks, you better think twice. Have a great day all.
