Comprehensive 2020 Buyers Guide for Silver Bars

silver bar

Credit: Iamc9in6 / CC-BY-SA 3.0

Silver bars can be a smart investment decision as they come with lower premiums and are easier to store in comparison to their coin counterparts. Are you wondering what exactly you should buy or where to buy silver bars? Keep reading to find out the best places to buy silver bars.

First, let us look at some of the top reasons to invest in silver bars.  

  1. Costs: Silver bars cost less than silver coins. Bars typically have lower premiums. Why? Coins have a more intricate design than bars, and that is why they have more labour and machining costs. It is quite simple to pay extra for that charm. Let us take a look at silver Eagle coins (10 ounces), the silver premium in May 2018 was 19%, whereas, for bars, it was 6%. As we can see, the bars are cheaper, and their premiums are half of what you would pay for the Eagle coins.
  2. Storage: A silver bar takes up less space than silver coins. When it comes to storing your silver bullion, as you accumulate more ounces, it is logical that space would be a consideration.

Another critical aspect when buying silver bars is its weight. What size to purchase? Silver bars range from 1-ounce to 100-ounces. The bigger bars have smaller premiums. However, you should be cautious while buying larger silver bars. Why? 

  • Smaller bars are more practical to sell. 
  • Larger bars have fewer potential buyers.
  • Most counterfeit bars are typically very large bars.

Let us now look at another essential facet of choosing a reputable brand. All reputable refiners have a proper stamping. You would find information, such as content or weight, purity, refinery, and serial number on any silver bar when you consider buying. Here is a list of some reputable mints.

  • Royal Canadian Mint, Canada
  • Perth Mint, Australia
  • Royal Mint, United Kingdom
  • Johnson Matthey, US, UK, China
  • Asahi, US, Canada, Japan, Mexico, Chile

When you are buying silver bars, remember to check if they are eligible for IRAs. Where to buy silver bars? You can buy them from online dealers, auction sites, and coin or bullion shops near you. Owning silver bullions can assure you considerable profits in the next bull market.

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