100-oz silver bar
From Silver Bullion Bars, Ingots, Coins and Rounds. Junk Silver Prices
There are many ways of investing in physical silver. You can buy 1-oz silver coins, 1-oz silver rounds or sterling silver jewelry. But investing in silver bullion bars is the most popular and affordable way of investing in silver bullion products. And the most popular silver bullion bar is 100-oz silver bar. 100-oz bars offer for all precious metal investors and silver collectors a liquid silver product with low premium over spot silver price and a compact size.
100-oz silver bar is the most popular silver bar among silver bullion investors but you can also buy silver bars from other sizes: 1-oz, 10-oz and 1000-oz silver bars can be easily found on the bullion market. Please keep in mind that the smaller the silver bar you buy the higher the premium over spot price you pay. But you should note that larger bars are harder to sell. It is much harder to sell 1000-oz bullion bar than 100-oz or 10-oz bar. Beyond question 100-oz silver bar is an optimum silver bullion bar for individual investors.
Investing in 100-oz silver bars
100-oz silver bars are very affordable and convenient way for silver investors to invest in silver bullion. .999 pure silver 100-oz bars do offer the important investment advantages:
- low premium over spot silver prices;
- they always recognized around the world as a trading medium;
- they are always very liquid;
- easy to stack and store.
The best way to buy precious metals is online auction sites or online store. Start with Ebay, register there and look for the sellers who offer 100-oz silver bar with the lowest premium and shipping fees. Buy precious metals items only from reputable sellers with the feedback of 99.9% or 100%.
Amazon, COMEX and APMEX are also the good sources for buying 100-oz silver bars.
The best brands of 100-oz bars
The most readily available are Academy, Ohio Precious Metals, Johnson Matthey and Royal Canadian Mint bars. Wall Street Mint bars, which are no longer manufactured, sometimes are accessible.
Sunshine Minting silver bars, although still being produced, are hard to find. Sunshine Minting provides no explanation as to why their production of silver bars is low.
Engelhard silver bar, along with Johnson Matthey bar, carry the best recognition with precious metals investors because of their longevity in the precious metals industry. There are no better known and reputable names in the precious metals industry than Engelhard and Johnson Matthey.
Please note that Engelhard bars not having been manufactured since the late 1980s so bars made by Engelhard can be available only when sold by other investors or collectors.
I recommend you to include Engelhard and Johnson Matthey products in your silver bullion collection or your precious metals portfolio.
Johnson Matthey 100 oz silver bars
Simply because with the reputed name, Johnson Matthey bars are well-liked. Johnson Matthey is manufacturing poured (cast) 100-oz silver bars, but production isn't sufficient to meet current demand, resulting in Johnson Matthey silver bars carrying higher premiums than Academy, Royal Canadian Mint, Engelhard and Ohio Precious Metals silver bars.
Johnson Matthey has not produced their struck silver bars since the late 1980s; therefore, struck Johnson Matthey silver bars are accessible only when sold by investors or collectors who purchased those bars years ago. Generating the Johnson Matthey struck silver bars still more scarce will be the fact that not numerous were produced within the first location.
Old Johnson Matthey poured 100-oz silver bars are serial numbered, the new ones are not.
Engelhard 100 oz silver bars
Engelhard silver bars remain well-liked despite not getting been manufactured since the late 1980s; nevertheless, they are not usually available.
Most Engelhard 100-oz silver bars are extruded (maybe 20% are poured) and are perfect for storage in secure deposit boxes. All extruded Engelhard silver bars measure the same; poured Engelhard silver bars can vary a little in dimensions.
Engelhard 100-oz silver bars are serial numbered.
Sunshine 100 oz silver bars
The name Sunshine is almost synonymous with silver because with the famed Sunshine Mine, within the equally-famed Coeur d'Alene Mining District, near Kellogg, Idaho. Further illustrating Sunshine Minting's prominence in the silver industry, the U.S. Mint utilizes Sunshine 1-oz blanks to produce its Silver Eagles.
Investors can buy Sunshine silver bars with confidence that they are buying a renowned name in the silver industry. Old Sunshine silver bars can be either struck or extruded. New Sunshine silver bars are difficult to come by, and nobody seems to know why.
Wall Street Mint 100 oz silver bars
Wall Street Mint silver bars are no longer produced, but occasionally they show up within the secondary market. Simply because Wall Street Mint bars had been produced fairly recently, they usually are in pristine condition.
Wall Street Mint 100-oz silver bars were produced by an extrusion procedure and are the exact same dimensions as extruded Engelhard silver bars. Wall Street Mint and Engelhard extruded 100-oz silver bars are ideal for stacking and securing in safe deposit boxes.
Wall Street Mint is much better known for its 10-oz silver bars, which carry the skyline of New York City with the Twin Towers still standing. WSM's Twin Towers bars rarely are accessible.
Ohio Precious Metals 100 oz silver bars
Ohio Precious Metals is a respected regional refinery that turns out appealing, flat cast 100-oz silver bars. OPM bars are appropriate for stacking and storing as they are similar in size and shape towards the old poured Engelhard silver bars.
The bars are marked Ohio Precious Metals, .9995 fine. They are not serial numbered.
Royal Canadian Mint 100 oz silver bars
The Royal Canadian Mint producers some of the highest quality bars in the marketplace. Silver bullion dealers merely call them RCM 100s.
Royal Canadian Mint 100 oz silver bullion bars are flat and uniform, making them ideal for safe deposit boxes.
Royal Canadian Mint 100 ounce silver bars are the only .9999 (4 9s) 100-oz silver bars being produced. All Royal Canadian Mint 100-oz silver bars are serial numbered.
Academy 100 oz silver bars
Academy silver bars are well-liked with silver investors because they're manufactured with computer numerical controlled machine tools that result in precision cut bars which are identical in size and shape. Academy 100 oz silver bars are the only silver bars that we know of which are manufactured with this high-tech procedure.
Simply because of interlocking grooves, Academy bars can be stacked like Lego pieces. Academy 100-oz silver bars are serial numbered too. Academy 10-oz silver bars are also accessible but are not serial numbered.
Materion plans to unify all of its companies under the new name, and sometime in 2011 Academy silver bars will be changed to Materion.
History of 100-oz silver bar
Within the early 1970s, inflation ran rampant, and investors moved to protect themselves financially by buying gold and silver products which are confirmed inflation hedges. But before December 31, 1974, investors could not legally own gold bullion so in early 70s only silver bullion goods were accessible.
To meet the surge of silver bullion products buying, little refiners began turning out .999 pure silver products. By the mid 70s, demand was extremely robust and Engelhard, a globe major precious metals refiner, started producing .999 pure silver bullion bars (called also silver ingots) and silver coins (silver rounds - Silver Prospectors). Engelhard 100-oz silver bar was instant hit, and shortly thereafter Johnson Matthey, another well known gold and silver refiner, started producing .999 fine silver 100-oz bars.
By the mid 80s the U.S. administration had brought down the rate of inflation, and demand for silver bullion products waned. As a result, Engelhard and Johnson Matthey ceased production of silver bullion bars, ingots, coins and rounds. However, due to the huge quantities of silver bars issued within the 70s and 80s, Engelhard silver bars and Johnson Matthey silver bars were readily available via the secondary market, until the 2008 Financial Crisis when investors cut back on selling any form of gold and silver products. Since late 2008, Engelhard bars and Johnson Matthey bars have been very scarce.
Risk when buying the 100-oz silver bars
You can be at risk with 100-oz extruded Engelhard bars. A great quantity of 100-oz silver bars were drilled and filled with lead when the price of silver reached US$50 back in the early 80s. Lots of people purchased the 100-oz silver bullion bars and sat on them for years. Holes had been drilled into one end and about 50 oz of silver were removed. The holes had been then filled with lead, a layer of silver was replaced over the end after which the finish was machined smooth and polished to ensure that the only way a person could tell if a 100-oz bar is legit is to drill or cut into it. This really is the reason why many people avoid 100-oz or larger silver bullion bar.
Lead-filled 100 oz bars apparently initial started appearing within the early 1980s, as the price of silver skyrocketed. The bars started off as actual 100 oz silver bars. Somebody then removed part of the silver, and replaced it with lead or perhaps a lead-tin alloy with the exact same weight as silver. Unfortunately, there is little credible information available.
There are estimates in the rumor mill that 1 in 25 to 1 in 40 with the 100 oz bars becoming afflicted with this problem. Nevertheless, these all seem to be just rumors. We estimate that Engelhard made about 2,000,000 100-oz silver bars; that would mean that 50,000 to 80,000 were lead filled (5 to 8 million ounces). It could be very difficult for an organization to move that many silver bullion bars unnoticed and untraced.
Another person who claims to have worked numerous years within the refining company says that he has only noticed 2-3 lead filled 100-oz silver bars out of 1000s that he was involved with.
In the FBI Case, it was claimed that about 150-200 bars were created (of which 16 had been recovered), meaning that a minimum of 150 or so such bars produced it into circulation (and as numerous as 500 or so, per our calculations, based on their purchases of lead). Common sense dictates that it's most likely that several people did this on a comparable scale, so maybe 1,000 or so bars produced it out there (most likely many of which have because been discovered). That could be about .05% of all Engelhard 100 oz silver ingots being tainted, or a 1 in 2,000 opportunity of getting such bar.
Please note: major online bullion dealers don't show much emphasis on lead-filled 100 oz silver bars. If they had been as prevalent as some suggest (1:25 to 1:40), they would have lots and plenty of customers sending in bogus bars (numerous send in 10+ at a time). Those clients would certainly begin complaining, but there are not any complaints of anybody sending 100 oz silver bars to main online dealers that told them that they were filled with lead. This makes the ~1:2,000 estimate appear much more accurate.