Silver Bars – What You Need To Know

When I am looking to purchase physical precious metals I normally purchase coins. I focus on United States Silver Eagles and the Canadian Maple Leaf. Why – because they are easily recognizable an readily accepted by others if you have to convert them into cash, goods, or services. I prefer silver because it is a smaller denomination and more readily usable in day to day transactions. Since there is a lower unit value I feel there is less of a chance of counterfeits.

But there are some drawbacks. When you purchase coins you will be paying a premium above the precious metal value. This is to cover costs that go into making and marketing the coin. You also have to store the coins and that might cost you some additional money.

Others prefer to purchase silver bars. Why? The premium is lower than for coins. However I feel the chance of encountering a counterfeit is higher than with coins. This silver bar advocate gives some good advice when he suggests focusing on lower weight one ounce bars. There is less of a chance that someone will counterfeit a one ounce bar than a hundred ounce bar. When you get up to the higher weight bars and want to sell it the purchaser might require an assay of a 100 ounce or thousand ounce bar. That can be quire expensive.

In this video this silver bar enthusiast gives a breakdown of the different types of silver bars. Do you know the difference between natural, cast, milled, machined, poured and pressed bars? I certainly didn’t.

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19 thoughts on “Silver Bars – What You Need To Know”

  1. Douglas Williams

    Very nice! Love the variety. I've been buying coins and 1oz rounds, but I think I'll buy some bars now. Subbed.

  2. Robert Walterman

    Some questions on storage i just bought a shrink wrap machine on amazon about$50 with bags. thought i would put some 20 oz scottsdale in them so i can leave them out slacker here exposed me to the 100 oz us assay office bar its stunning i want to leave out but dont want it easy to steal so it must stay in safe most of time

  3. Robert Walterman

    Thanks really helps i didnt get was how is cast made i love the look of scottsdale they call cast they look poured to me but i am a newb no clue lots to learn thanks for doing this

  4. I have an OPM 1kilo silver bar (Trapezoid shape) with a matt/frosted finish…do you know if these are a semi-collector bar? I had read once, and i can't find the article now, but it stated they they aren't making this shape anymore. Thoughts? I was thinking about selling it for some 1oz silver, but will not if there's a chance it could be a 'odd' with a premium in the near future. Thanks

  5. I wonder when grading companies start grading bars. Not that I would want that, but the demand is there with so many of them already collectable with huge premiums dependent on condition.

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