Chilliwack man shaken after home invaders take $750,000 in silver

theprovince.com ^ | February 16, 2011 | LORA GRINDLAY AND SEAN SULLIVAN

[Jet Jaguar]

Ping

[smokingfrog]

Look for a white Toyota Camry or Pontiac G6 with busted shocks.

[TigersEye]

Loose lips sink ships. He shouldn’t have told anyone at all.

[ExSES]

spirited away with $750,000 in silver the man had bought as an investment last year.

And..., one would expect such a transaction to be unnoticed???

[Fresh Wind]

At $30/ounce, $750,000 would be 25,000 ounces, or about 2000 pounds (assuming Troy ounces). The cop said it was “several thousand ounces”. Something doesn’t compute.

[Huntress]

He didn’t insure the silver, he said, because the price to do so was astronomical.

Groan. For this guy's sake, I hope the perps are found before they unload the silver.

I realize they can easily be melted down, but are silver bars marked in any way to distinguish one bar from another?

[rahbert]

the silver is long gone, through the Vancouver underground,
possibly to Hong Kong by now.

maybe someone needed a little sil’, a little gol’ to
take to the hangman’s post...

[ravinson]

If you're going to invest in that much metal, maybe you should also invest in a fake stash of silver-plated slugs to show your “friends”.

[Persevero]

I am very sorry about what happened to this man.

That said, it is not wise to keep your life savings all in one place. Obviously.

Lots of things could happen, wherever the one place is. You need to spread out a little. No where is perfectly safe.

[Michael.SF.]

Call me skeptical on this whole story.

$750,000 of silver would be in the neighborhood of 700 bars of silver (assuming 1 kilo per bar).

Kind of difficult to "spirit off" with 700 bars of silver.

[Smokin' Joe]

Loose lips sink ships. He shouldn’t have told anyone at all.

True enough. I have taught my Grandchildren the number of people it takes to keep a secret.

One.

Any more than that, it isn't a secret.

I'd also advise folks to keep their nest eggs in more than one basket.

A couple hundred ounces in the vault, some in the base of the Ficus planter, etc...

All that said, I hope at least some of his silver is recovered and returned to him--and the perpetrators caught and appropriately punished.

[Persevero]

Great point, is there any evidence he ever had this?

[SatinDoll]

Back up a truck and load her up.

[Jonty30]

Whomever took them likely had a ready buyer who could restamp them and resell them on the market.

[TigersEye]

He should start by water boarding the most likely big mouth. ;-)

[Attention Surplus Disorder]

“I realize they can easily be melted down, but are silver bars marked in any way to distinguish one bar from another?”

Most are...

http://www.tulving.com/bullion/engelhard_silver_bullion_bars.htm

I would posit that very, very few private holders of bars mark down their serial numbers. They are “easy” (not really) to melt down but anyone who does so loses $50-$100 per bar assay charge converting it from a known item (eg; “Englehard 100 oz bar) to an unknown blob or block of silver.

[Krankor]

There’s the dollar, the peso, the mark, the ruble, the pound and now “the blob”.

[Attention Surplus Disorder]

Ahahahahahhahahha I bet you don’t realize I know very well who Krankor is!

[edpc]

Chilliwack - My Girl

Early 80s blast from the past.....