Best Silver Bars to Buy for Your Investment
By BullionMentor on December 18, 2023
Over the years, people have often turned to precious metals to play it safe when inflation hits or things get tough economically. Holding silver bars is a smart move for many investors to mix things up in their investments. These silver bars come in all sizes and shapes, so there's one for every budget. Trustworthy mints produce these high quality silver bars ranging from small 1-ounce bars to bigger 1-kilo bars. That means whatever your investment game is, there's a silver bar that fits everyone’s goal. Besides just keeping the silver bars yourself, there's another way. You can stash them in your Self-Directed IRA and enjoy their tax benefits plus enduring value. Keep reading to know more about our top pick of the best silver bars to buy for investment in 2024!
What Types of Silver Bars Make Good Investments?
For collectors diving into the world of silver bars, there are two main types: minted and poured.
- Minted silver bars are crafted by melting and casting refined silver, followed by stamping details from bigger cast silver bars.
- Poured bars, on the other hand, are created by pouring melted silver into a mold and letting it cool into a solid block.
Minted bars usually come with higher prices compared to poured ones. They need more effort and sometimes more space to create. Silver bars that meet IRA standards (.999 pure silver) are the best silver bars to buy for investment. Whether you go for minted or poured bars, both choices will meet this requirement.
When it comes to sizes and weights, silver bars vary. People often go for smaller denominations like single, five, or ten ounces. But there are also larger options, such as 100-ounce silver bars, which might suit wealthier investors. Remember that a silver bar's value depends on its weight and purity. Bigger bars aren't automatically better investments if they have less silver content than smaller ones.
Before choosing, ask yourself some key questions:
- What can I afford?
- How will I get to my silver?
- Do I need a place to store it?
Larger bars are cost effective yet might cost more due to composition, storage, and logistics. Depending on where you buy, you might have to figure out your storage. Going for smaller bars could be better if space is limited. Some banks and mints can handle transport and storage for heavier products.
If your plan involves collecting more silver over time, starting with smaller weights and gradually moving up might be a smart move.
Benefits of Investing in Silver Bars
Silver's been around the block for thousands of years, used as money and a reliable value stash. When things go haywire in the economy, silver often does better than stocks and other money moves. So, silver bars and bullion—what's the deal? Well, silver bars are like shiny rectangles with their weight and purity stamped on them. Bullion is a sophisticated word for any precious metal valued by how much it weighs and how pure it is and minted by government or private mint. Alright, now, why invest in silver now? Let's get into it:
Not Breaking the Bank
silver bars and bullion won't break the bank. Compared to some fancy metals, they're a good deal. You won't have to shell out tons of cash to get in on the action.
Easy Buying and Selling
Getting your hands on these silver bars is a breeze. They're traded worldwide, and plenty of trustworthy folks specialize in dealing with silver bars and bullion.
Real, Hold-in-Your-Hand Stuff
Unlike virtual money and stocks, silver bullion bars are the real deal. They're not tied to any company's ups and downs. This is why mixing things up in your money game is a solid way.
Diversify Your Money Squad
Adding silver bars and bullion to your holdings is like backing up your future financial needs. They've been pretty steady over time and don't tag along with other investments too closely. So, you're lowering the risk and getting more gains by having them in your investment portfolio.
Top Silver Bars to Buy
Here are our top picks for the best silver bars to buy for investment:
- Royal Canadian Mint silver bars
- Johnson Matthey silver bars
- Engelhard silver bars
- PAMP Suisse Silver Bars
- Perth Mint Silver Bars
- SilverTowne Silver Bars
Royal Canadian Mint silver bars are made by Canada's esteemed government mint - The Royal Canadian Mint. RCM silver bars come in different sizes and weights. Each has the Royal Canadian Mint name, mintmark on the front, weight, and .9999 silver purity. And here's a cool thing: these bars can be part of your Gold IRAs, offering you tax benefits and value appreciation simultaneously. 10 oz RCM silver bar is the best example of Mint’s meticulous craftsmanship.
Engelhard Johnson Matthey is a famous name in the world of silver bullion. They have a rich history and are known for their top-notch products that are both high in quality and authenticity. Although they stopped making silver bars a while back, collectors and investors were excited when Johnson Matthey recently started selling them again.
Today, Johnson Matthey silver bars have a few differences compared to their counterparts from the past. You can still snag them in 1 oz, 10 oz, and 100 oz sizes, but there are some changes. For example, while the 100 oz bars from the 1980s were struck, today's ones are cast (poured). So, does this mean the new Johnson Matthey bars are somehow lower quality than the old ones? Absolutely not. They're still made of 99.9% fine silver and remain a smart buy for investors looking to broaden their precious metals portfolio.
Engelhard silver bars are made by Engelhard Corporation, a respected American company known for good silver and gold bullion. These bars are usually made of 99.9% pure silver and come in different sizes, from small to big. Engelhard bars have a simple and neat design with the company name and details stamped on them. Even though the company is now part of a German one, its silver bars are still popular because they're of good quality and have a legacy of craftsmanship. You can buy Engelhard silver bars 10 oz from reliable online stores like APMEX, BOLD Precious Metals, etc.
PAMP Suisse makes excellent silver bars everyone's talking about. What's so special about these bars? Each Pamp Suisse silver bar comes with exquisite designs and details like the mint logo, weight, purity, and a unique serial number. These bars are like the purest of the pure, usually 99.9%. PAMP Suisse doesn't just give you one type of silver bar—they've got a whole bunch to choose from. Whether you're just starting your collection or adding to it, there's something for everyone, from small bars to big cast ones. A popular PAMP Suisse bar is the Fortuna silver bar, which collectors and investors are much sought after.
The Perth Mint silver bars come in different sizes. You can make a choice from a tiny 1-ounce to a whopping 100 ounces. However, the 1-kilogram Perth Mint silver bar is the crowd favorite. All these bars are super pure at .999 fineness. You can stash them in private storage or get them delivered anywhere in the world. We recommend popular online sellers like BOLD Precious Metals if you want to buy a 10 oz Perth Mint silver bar.
SilverTowne Mint makes silver bars in .999 fine silver. The most popular one has Prospector and his burro on it, and you can grab it in 1oz, 5oz, or 10 oz sizes. They also have a Buffalo Replica bar and some vintage-style cast silver bars from SilverTowne. These SilverTowne silver bars won't break the bank. They're some of the most affordable ones. And if you're into themed or special occasion silver bars for gifts or events, check out their SilverTowne-themed Silver Bullion collection.
Where To Buy the Best Silver Bars
We always recommend our trusted sellers, such as APMEX (American Precious Metals Exchange), BOLD Precious Metals, JM Bullion, BGASC, Money Metals Exchange, and SD Bullion.
To ensure the quality and authenticity of the silver bars, it is recommended that you do business with well-known dealers who keep the bullion products of renowned mints and refiners.
Compare Silver Bars Price at Bullion Mentor
If you are considering the best silver bars to buy for investment, you must stay abreast with current price fluctuations. Apart from this, different silver bars have different premium values. Therefore, if you are still determining which silver bar will meet both your investment goals and budget, do a thorough price comparison of varying silver bars from popular dealers to decide on which brands, refineries, and mints only with Bullion Mentor.
We always help our users in making intelligent choices when it comes to precious metals. Stay tuned with us and get real-time updates in the Precious Metal industry!
FAQ's
- What are the best silver bars to buy?
- Why are Engelhard silver bars worth more?
Some popular silver bars are Royal Canadian Mint silver bars, Johnson Matthey silver bars, Engelhard silver bars, PAMP Suisse silver bars, Perth Mint silver bars, and SilverTowne silver bars.
Engelhard silver bars have top-notch fineness. It ranges from 99.9% to 99.99%. These bars are rare and uncommon. This reason justifies its high value.