Silver bullion bars
From Silver Bullion
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What are silver bullion bars
The most traditional way of investing in gold and silver is by buying Gold bullion bars and Silver bullion bars .
Silver bullion bars usually minted by private mints or refineries and contain .999 pure silver.
Bullion bars come in many shapes, sizes and of course, weights. As well as silver bullion coins, bars are the best way of investing in silver. You can buy anything from 1 oz silver bars up to and over 100-oz silver bars or one ounce up to 1000 ounces.
Every silver bullion bar is marked with the weight, purity and the refiner hallmark.
Types of silver bullion bars
- 1-oz silver bar;
- 10-oz silver bar;
- 1000-oz silver bar;
- as well as from one gram up to 5 kilo.
Silver bars made by most popular manufacturers
- Engelhard silver bars;
- Johnson Matthey silver bars;
- Royal Canadian Mint silver bars;
- Pan American silver bars;
- Perth Mint silver bars;
- Sunshine Minting silver bars;
- Wall Street Mint silver bars;
- Sheffield silver bars;
- Handy & Harman silver bars.
Although Engelhard silver bars and Johnson-Matthey silver bars made by two of the world’s largest refiners, they have not mass-produced silver bullion bars since the mid-1980s. This means Engelhard silver bars and Johnson-Matthey silver bars are available only when other investors sell. However, 100-oz Sunshine Minting and Wall Street Mint bars are readily available. Occasionally, Sheffield (English) and Handy & Harman bars surface.
Advantage of .999 pure silver bars
Silver bullion bars are a great way of accumulating silver and storing it (and gold bullion bars are a great way of accumulating gold too). The premium over spot silver is much less than on coins and the value of course will continue to grow.
Generally, common bullion bar is about $1 plus to $2 above spot if you are buying small bullion bars: 1-oz silver bars or 10-oz silver bars. But if you are buying 100-oz solver bars, it can be as low as 40 cents above spot.
Bullion bars are the cheapest form of silver compared to numismatic or government coins.
.999 pure silver bars are also recognized around the world as a trading medium and are therefore very liquid.
Investing in silver bullion bars
Silver bars have emerged as a popular investment because bars have uniform sizes and convenient to store and handle.
Silver bullion bars can be stored in bank vaults, which they often are, or even in your own home or office, although, for the larger bars, that is not recommended. Pure silver bars are able to be used in an IRA account according to the IRS and can make an excellent addition to a retirement fund.
Buying silver bars
The one thousand ounce bullion bar is considered the industry standard and usually used for trading and storage, but can also be taken for personal delivery, although this is not particularly recommended. Each silver bar is hallmarked to certify weight and purity. The actual weight, however, can vary by up to ten percent above or below the 1000 ounces. With bullion bars sold to individuals the price is adjusted according to the actual weight.
The 100-oz silver bar is usually reserved for individual purchases. The big advantage with these is the low premium over spot making it a viable purchase for the individual investor. 100-oz silver bullion bars are easy to transport and can be sold for spot anytime.
The larger the bullion bar you can afford to buy the lower the premium on a bar of course. The premium covers the manufacturing costs, admin and profit for the mint or dealer. When taking delivery of the larger bars it is prudent to ensure the shipping is secure and insured.
Where to buy silver bars
Johnson Matthey, Wall Street Mint, Sunshine Minting and Engelhard silver bars can be found from the 1000-oz down to one or ten grams.
You can buy silver bars from local silver dealers or online.
One can also go to gold and silver bullion coins dealers. They often sell bullion bars as well.
It is possible to buy silver bars at auction as well. On eBay, for example, you can find silver suppliers. Here you will fine bars from one gram up to 100 ounces.
Storing silver bullion bars
A 100-oz bullion bar weighs only 6.8 pounds and so are easy to transport and store.
100-oz silver bar is .999 fine, which means that silver bullion investors are able store a great deal of wealth in a small space. Additionally, as 100-oz bars are acceptable trading units, they are just as easily sold as they are bought.
