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Buy Silver Bullion

Silver bullion is a precious metal with multiple uses.  It is considered a precious metal by some and an industrial metal by others.  To the many that buy silver bullion, it is an investment metal.

Silver’s rarity and luster give it value as a precious metal.  It has been used for millennia as a monetary coinage of premodern empires.  Silver along with gold formed the bimetallic standard once backing currency of modern governments.

Silver’s properties makes it an invaluable industrial metal.  Its high electrical conductivity, thermal conductivity, and reflectivity and its low contact resistance are superior to all other metals.  It is used in applications including electrical contacts and conductors, electromagnets, and solar panels.

Silver is now investment-grade bullion used to preserve wealth, hedge against inflation, and minimize risk.  Buying silver bullion allows investors to take physical custody of the precious metal. Investors choose the purity, style, weight, and brand from Goldmart’s varied portfolio of investment-grade silver bullion products which is suited to differing investment strategies and personal preferences.

Silver Bullion Purity

The purity of silver bullion is measured by its millesimal fineness, how many parts of pure silver per 1000 parts of material.  This millesimal fineness can also be expressed as a percentage. Jewelers use .925 fine or 92.5% sterling silver. Investors should only buy .999 fine silver that is 99.9% pure bullion, such as a 10 oz Sunshine Minting Silver Bar, or .9999 fine silver that is 99.99% pure bullion, such as a 1 oz Canadian Silver Maple Leaf Coin.

Silver Bullion Style

Silver bullion is minted into coins, rounds, and bars.  

Silver coins are monetized bullion that are only minted by sovereign mints.  The intrinsic value of the silver coin is worth more than its stated face value, such as the 1 oz American Silver Eagle with a legal tender of one dollar.  

Circular silver rounds minted by private foundries and rectangular silver bars minted and cast by sovereign and private mints are non-monetized bullion.  The premium cost per ounce is less for rounds, such as the 1 oz Sunshine Minting Buffalo Silver Round, and ingots, such as the 1 oz Sunshine Minting Silver Bar, than for coins, such as the 1 oz Austrian Silver Philharmonic Coin, even though they are equal in weight and purity.

Silver Bullion Weight

Silver bullion is minted and cast in various sizes ranging from small 1 gram (g) bars to large 1000 troy ounce (oz) COMEX-approved ingots.  Some of the more popular sizes are 1 ounce coins and rounds and 1 ounce, 5 ounce, 10 ounce, 1 kilogram (kg) or 32.15 ounce, and 100 ounce bars.  Heavier bullion, such as the 100 oz Royal Canadian Mint Silver Bar, is easier to store and has a lower premium per ounce than lighter bullion, such as the 1 oz Mexican Silver Libertad Coin, which provides more flexibility when trading part or all of an investment position.

Silver Bullion Brand

Silver bullion is produced by private foundries and sovereign mints.  

There are numerous independently operated refineries that fabricate silver rounds and bars.  It is important to buy precious metal manufactured by the world’s most trusted private mints that are ISO 9001:2008 certified, such as Republic Metals Corporation.  They operate with quality management systems that comply with the International Organization for Standardization’s statutory and regulatory requirements.

Conversely, sovereign mints produce silver coins and bars that are guaranteed by their country’s governments.  It is important to buy monetized silver coinage, such as the 1 oz Canadian Silver Maple Leaf Coin, or silver ingots, such as the 10 oz RCM Silver Bar, that are produced by a trustworthy country’s mint, such as the Royal Canadian Mint.

Silver Bullion Prices

The price of physical silver bullion is calculated using two values: the spot price of silver and the premium cost of the product.

The spot price of silver is the current rate of the commodity traded in global exchanges and reflects changing market conditions.  The spot price is unaffected by wholesale distributors and retail dealers.

The premium is the cost charged over the spot price and is typically established by the purity, style, weight, and brand of the product and includes manufacturing, storage, and distribution costs as well as any profit or gain realized or to be realized by mints, wholesalers, distributors, and retailers.  Premiums charged for physical silver bullion, unlike for other precious metals, are highly susceptible to price fluctuations in volatile markets. It is typical to see normal premiums temporarily increase, sometimes doubling or more, during these atypical conditions of low supply and high demand.

Silver Bullion IRA

Investors can either make new contributions to or transfer or roll over existing individual retirement and 401(k) accounts into self-directed precious metal IRAs.  The IRS stipulates investors must buy silver bullion for inclusion in their precious metal IRAs that has a minimum millesimal fineness of .999 fine or purity of 99.9% and which is either minted by a private refiner/assayer that is NYMEX/COMEX approved with ISO 9001:2008 certification or by a sovereign foundry of a stable nation.   All silver coins, rounds, and bars offered by Goldmart are IRA approved silver bullion.