4 oz Silver $100 bill

7 posts / 0 new
Last post
bwgolden's picture
bwgolden
Status: Member (Offline)
Joined: Jan 27 2011
Posts: 3
4 oz Silver $100 bill

Hi everyone, I'm new here and have recently began investing in silver. While my portfolio with consists mainly of bars & coins, I've recently acquired a 4 oz silver $100 bill from a very reputable dealer in town. What concerns me is that all of the images I find on the computer are of more recent years (mine is a 1996 'bill') and have on the left of the front "4 Troy Ounces" and on the right ".999 Fine Silver". Mine, however, does not have either of these. Do anyone know it they just weren't putting that verbiage on there during that time and started adding later or do I have a fake?

Thanks for any input.

SteveW's picture
SteveW
Status: Gold Member (Offline)
Joined: Jan 21 2010
Posts: 490
Re: 4 oz Silver $100 bill

You haven't given much of a description related to the issuer etc.

I don't know what you have but from your description it would appear to be some kind of paper silver and subject to counterparty risk even if authentic.

db's picture
db
Status: Member (Offline)
Joined: Oct 8 2008
Posts: 13
Re: 4 oz Silver $100 bill

Hello bwgolden,

First off, welcome to the forums! 

My father has a few of these bills in 1 oz and 4 oz versions.  His are from 2010 and stamped as you indicated with "1 oz" / "4 oz" and ".999 Fine Silver".  

It sounds like what you have may have come from The Washington Mint company.  I found a few photos of 1996 and 1997 versions.  It appears to me that they were probably just not stamping the "4 oz" and ".999 Fine Silver" in the earlier editions.  Here are the links :

http://www.worthpoint.com/worthopedia/1996-troy-ounce-100-dollar-bill-77582775 (click zoom)

http://www.collectingsilvercoins.com/a1worldtrading-4-oz-1996-silver-100-bar-note-bill/

In my opinion, I doubt what you have is fake.  But, your scenario is also why I only buy silver eagles and maple leafs...  It is much easier to detect counterfeits.

I hope this helps.

db 

bwgolden's picture
bwgolden
Status: Member (Offline)
Joined: Jan 27 2011
Posts: 3
Re: 4 oz Silver $100 bill

Thanks db, after looking at your images, I've also been able to look up more images of the 1996 edition and none of them have that particular verbiage.

 

One other question...when it comes to silver eagles and maple leafs, are there certain mints I should try to stear clear of?

 

How do you know which mints are safe? Is Westminster Mint a reputable mint?

 

Thanks for the input and thanks for the welcome!

db's picture
db
Status: Member (Offline)
Joined: Oct 8 2008
Posts: 13
Re: 4 oz Silver $100 bill

bwgolden,

You are welcome!

Silver Eagles and Maple Leafs are officially minted by the government of the USA and Canada, repectively.  The government certifies that the coin contains the labeled amount of a particular metal.  I am not endorsing monex but, here is a helpful link to the most common government minted bullion coins (enclosed in the second box on the page) and their current prices.  If you click on the links of any of the coin names it will bring you to another page with a picture and history of that coin.   

http://www.monex.com/liveprices

So when I stated that I only buy Silver Eagles and Maple Leafs, what I meant was I only buy government issued bullion coins.  Like you mentioned, there are also private mints which manufacture their own silver "rounds".  There are advantages and disadvantages to each...  One advantage of government issued coins is that they are widely recognized and certified by a government to be what they say they are.  One  disadvantage is that they usually command a higher premium over the spot price of bullion.  One advantage of private silver rounds is that they usually have a low premium over the spot price.    One disadvantage of private rounds is they may not be widely recognized and, in the future the people that you might want to sell or exchange them with may be suspicious that they are counterfeit.

Since I only purchase government issued bullion from local coin dealers, unfortunately I do not have any recommendations for you on private mints that are good or bad. 

If you haven't already read Dr. Martenson's article on investing in gold and silver, you will want to read it.  It helped me get started and answered many of my questions.

http://www.peakprosperity.com/buying_gold

If you are looking for even more information, this book also helped me : 

http://www.amazon.com/Rich-Dads-Advisors-Investing-Financial/dp/0446510998/

I hope this helps.

db

bwgolden's picture
bwgolden
Status: Member (Offline)
Joined: Jan 27 2011
Posts: 3
Re: 4 oz Silver $100 bill

Thanks db, I printed out that which you mentioned and read over it. It seems that most of the "approved" dealers deal with minimum order amounts that I am not ready to plung down yet.

I may need to do some more research on Westminster Mint. I received some positive feedback from one buyer (on this forum or on another). I noticed that they do not charge any sales tax (unless you live in 2 mentioned states, which I don't). So if I can determine that they are legit, it would save hundreds of dollars in taxes.

Steve1024's picture
Steve1024
Status: Member (Offline)
Joined: Mar 19 2011
Posts: 1
4 oz $100 Silver Currency

I am interested in purchasing the 2011 4oz $100 Silver Currency Bar from the Washington Mint. The only seller I've located is Collectible America. I know they charge a premium for the purchase. I was wondering if anyone found them cheaper than their asking price of $200 or from a more direct source. Any assistance would be greatly appreciated!! 

~Steve

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments