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 Silver Bars

Silver Bars

Buy Silver Bars

Buying silver bars allows investors to act as general contractors through requisitioning silver bullion bricks used to build stable foundations supporting their financial portfolios.  Blueprints rendered by investment architects list silver bars in addition to other precious metals on the bill of materials necessary to build a store of wealth, hold up against inflation, and brace riskier positions.

What exactly is a silver bar and why buy silver bars instead of silver rounds and silver coins?  A silver bar, or ingot, is a rectangular shaped precious metal asset minted or cast in various weights of investment-grade silver purities that are guaranteed by sovereign governments or private assayers and refiners.  Unlike silver coins, silver bars and silver rounds have lower margins and are priced closer to the values of their precious metal content. Unlike silver rounds, silver bars are minted in various sizes that allow convenient storage and receive economies of scale.

Investors select the brand, style, weight, and purity when buying new silver bars from Goldmart’s expansive selection amassed for unique financial strategies and differing personal preferences.

Silver Bar Brand

Silver bars are fabricated by either sovereign mints or private mints.

The governments of national mints guarantee the silver content.  It is important to buy silver bars fabricated by the trusted sovereign mints of stable nations.  When investors select 100 oz RCM Silver Bars, they have chosen a bullion asset manufactured by the reputable Royal Canadian Mint of Canada.

Independently operated mints also guarantee the silver content of their bars.  It is important to buy silver bars manufactured by renowned private refiners/assayers that are certified compliant with International Organization of Standardization (ISO) regulations and accredited by global associations and commodity exchanges.  When investors choose 10 oz RMC Silver Bars, they have selected a physical precious metal produced by the globally recognized Republic Metals Corporation that has ISO 9001:2008 Quality Management System (QMS) certification and London Bullion Market Association (LBMA) and Commodity Exchange, Inc. (COMEX) accreditation.

Silver Bar Style

Silver bars are available to buy in two different manufacturing styles – minted or cast.  The resultant type of bar is dependent upon which fabrication method was utilized to produce it.

Minted, extruded, struck, or stamped bars are produced when a die cuts smooth, even-surfaced blank plates of specified dimensions and weights from a continuously cast bar of uniform thickness.

Cast, loafed, or poured bars are produced when molten silver solidifies in open-form molds resulting in a tapered shape with rough and smooth surfaces.  

The minting method is typically utilized in the production of smaller-sized bars, such as 1 oz Asahi Refining Silver Bars, and the casting method in larger-sized bars, such as 100 oz Silvertowne Poured Silver Bars.

Silver Bar Weight

Internationally traded silver bars are weighed in either metric grams or imperial troy ounces.  There are 31.10 grams in 1 troy ounce and 32.15 troy ounces in 1 kilogram. Silver bars are available to buy in various sizes to accommodate different investor preferences.  Some investors buy small bars consisting of only a couple grams. These fractional bars have high mark-up costs. Other investors buy large LBMA accredited 1000 troy ounce Good Delivery Bars.  The chain of custody is broken if the bars are removed from LBMA accredited vaults resulting in their good delivery status being revoked. The majority of investors, however, buy silver bars in sizes ranging from 1 ounce to 100 ounces including popular 5 ounce, 10 ounce, and 1 kilogram sizes.  The larger the bar, the smaller the premium cost per ounce when buying.

Silver Bar Purity

Investment-grade silver bars are minted with a millesimal fineness of either .999 or .9999 fine silver, values that can be conversely stated as purities by weight – 99.9% and 99.99% pure.  Regardless of how they are stated, these values denote a metallurgical assay measured 999 or 999.9 pure silver parts present in each 1000 parts of material. The residual material is typically copper alloy or minute impurities.  The difference between purities or fineness is immaterial with no resultant effects on price and is only a preference of investors when selecting silver bars to buy.

Silver Bar Prices

The price of a silver bar is the sum of two components: the melt value and the total premium cost.

The melt value is calculated by multiplying the total silver weight in troy ounces by the spot price of silver traded in global commodity markets and exchanges.

The total premium cost is the amount charged in excess of the melt value and includes all manufacturing, storage, and distribution costs incurred and any profit or gain realized by the mint, wholesalers, and retailers.  The premium is influenced by the brand, style, and the size or weight but is also highly susceptible to substantial increases in periods of heightened demand for physical silver bars during volatile markets.

Silver Bar IRA

The Internal Revenue Service originally provided for the inclusion of gold bullion coins as an acceptable investment type in individual retirement accounts in its Taxpayer Relief Act of 1997.  The IRS has since defined other precious metal investments that are now approved. For instance, investors are allowed to buy silver bars to diversify their self-directed precious metal IRAs that meet two criteria: the assayer/refiner must either be sovereignly operated by a stable nation or privately run with COMEX/NYMEX accreditation and the silver must have a minimum millesimal fineness of .999 fine or be at least 99.9% pure.