Where to Buy Silver Bars? Best Silver Dealers

Around 500 BC, the first silver coins were minted and began to be used for trading and currency. Silver’s use as currency has declined significantly. Today, however, this metal is believed to be up to eight times more abundant than even gold, making it a coveted investment option. 

Not only is that true, but it remains one of the rarest metals in the world, given that its abundance is only a little more than that of gold bullion.

In this article, you will learn all about silver bars, their importance, pros and cons of investing in them, and, most importantly, what is the best place to buy silver for you!

Best Silver Bar Dealers Reviews

When looking for where to buy silver bars, it’s important to choose a reputable and trustworthy dealer. The first thing to consider is the dealer’s reputation in the industry. Look for reviews and ratings online from previous customers to get a sense of their level of service and reliability. Additionally, the best silver bullion dealers are accredited by organizations such as the Better Business Bureau or the Professional Coin Grading Service.

It’s also important to consider the dealer’s pricing and selection of silver bars, as well as their policies on shipping, returns, and storage. By doing your research and choosing a reliable and reputable dealer, you can feel confident in your silver bar investment.

What is a Silver Bar?

A silver bar can also be referred to as silver bullion. It is a piece of highly concentrated silver of up to 99% purity. Bullion comes in the form of coins or bars. Unlike yesteryears, today, it is primarily used for investment purposes. 

Banks moved to purely fiat currencies because of the limited supply of silver and its high prices. Now, it is not being used as currency anymore but as a form of investment, industrial use, and a store of wealth. 

Silver Bar Sizes

Silver bars are available in a variety of sizes. Most of their sizes are based on troy ounces. Nonetheless, some mints offer them in grams. Still, there are imported bars that are sized in metric units. Common silver bar sizes in the market are one, five, ten, and one hundred ounces. Certain mints make other standard sizes that include:

• Half ounce
• Two ounces
• Fifty ounces
• Ten thousand ounces

Types of Silver Bullion Bars

There are a variety of silver bars in the market today if you are interested in investing. The most popular ones amongst most investors are the minted ingots. Ingots start as long-cast silver bars that are fed into a stamping press. 

The stamping press is computer-controlled. As a result, each bar is precisely cut by weight and size. Additionally, the press stamps a unique design on each ingot. While some have exciting designs, others only have essential standard markings. So, this type is the most preferred given its precision and weight, purity, and metal content in each bar. 

Investors and collectors also prefer the alluring hand-poured and cast bars. As a result, most refineries continue to use traditional techniques when creating silver bars. 

Even though not all hand-poured or cast bars lack flair, various U.S refineries pride themselves on producing hand-stamped and hand-poured silver bars with designs; hence, there are no two silver bars in the same series that look similar. 

Despite the type of silver bar you buy, you can rest assured that it is refined with .999 .9999 pure silver content. Additionally, many silver bars have an assay card that authenticates each product and verifies purity, weight, and content.

Silver Bar Manufacturers

Silver bars have been manufactured for years. Some silver bars have been manufactured by two very old but popular companies, Johnson Matthey and Engelhard. They are no longer in operation, though. As a result, their silver products are in high demand because of their rarity. They have unique designs, plus their historical value makes them the most desired bars by collectors. 

On the other hand, new silver manufacturers include the following:

NTR Metals

NTR Metals was established in 2004 and dealt with the refining of various metals for pawnshops and jewelers. The company serves customers throughout the world. It is worth noting that the company is based in the United States.

PAMP Suisse

PAMP Suisse is another metal refining company that has managed to build a good reputation over the years. The company was established in 1977 and has been consistent in producing high-quality metal bars throughout its existence. It deals with the refining, assaying, and minting of gold. Additionally, it also produces platinum, palladium, and silver bullion products.

The above-mentioned companies manufacture silver bars of varying sizes and designs. They are among the most trusted and reputable companies to get quality products from. Just recently, Australian and Canadian companies began producing silver bars, as well. The Royal Canadian Mint, for instance, is a stunningly crafted silver bar with impressive designs.

Several other companies produce silver bars, including

• A-Mark
• Asahi
• Atlantis Mint
• Geiger
• Highland Mint
• OPM Metals
• Perth Mint
• Scottsdale Mint
• Sunshine
• Valcambi

Why Invest in a Silver Bar?

Owning or investing in precious metals like silver bars can reduce the risk of other investments like paper currency and stocks. 

The value of paper money has been on an all-time decline. This has worsened, especially when governments are printing more money in the wake of the economic downfall caused by COVID-19. On the other hand, precious metals, such as silver bars, have remained relatively stable and may help guard your portfolio against inflation. 

On the other hand, silver is a limited resource, meaning that its potential to gain value as its demand increases is high. It cannot be recreated on a computer, nor can it be duplicated like paper money. Therefore, as an investment, it may gain you a higher return on investment. 

Silver Bar Pros and Cons

Before investing a large chunk of change in silver products, weigh the pros and cons of purchasing this asset.

Silver Bar FAQ

How to Buy Silver Bars?

You can purchase silver bars at your reputable local dealer or website. However, buying from banks may entail much higher premiums and prices.

What’s The Difference Between a Coin and a Bar?

A silver coin is minted by government entities and sovereign mints. Thus, each coin gets a legal tender attribution from the country it was minted.

A bar, on the other hand, has a purity of 99.9% and can be privately or government minted.

Where Should I Sell My Silver Bullion?

It is advisable to always trade your silver with the same bullion dealer. A good relationship with your dealer may lead to better payment or incentives.

Which Silver Bar Should I Buy?

To know which silver bar is right for you, first understand your primary goals. For instance, you may be looking to invest and diversify your portfolio or for collecting purposes. A bar with a design costs more than a plain one; thus, for investment purposes, it’s advisable to go with the most economical bar. 

Also, decide what your budget is. Many dealers are willing to work with you to purchase silver products that meet your goals and budgetary constraints.

Why You Should Consider Buying Silver Bars

If you have not yet made up your mind to buy silver bars in 2022, here are the reasons why you should do so:

• High-level stock market – geopolitical tensions that make the stock market decline may lead to a corresponding rise in prices of valuable metals, such as silver. If you buy today and sell later, you may enjoy large returns.
• Silver is the best way to diversify your portfolio – Most investors are quick to invest in the stock market due to its quick and attractive returns. However, when the stock markets crash, investors lose a huge portion of their investment. Therefore, investing in silver bars can be a wise idea to diversify your investment portfolio and safeguard your assets in the event of a stock market decline.
• A not-so-good global political scenario – The geopolitical tension being experienced in various parts of the world can lead to an economic slowdown in the future. Therefore, it may be best to proactively safeguard your investment now by investing some portion of your funds in silver.

Are Silver Bars Easy to Sell?

Absolutely, there are many places where you can sell your silver bars if you no longer need them. Reputable places are handy, especially in times of financial need. Also, you can check with your reputable local jeweler or industry professionals with a knack for selling silver.

The key is to carry out some initial research and find out the best places for you to sell. Once you have a list of some of the most trustworthy dealers, you can go ahead and sell your silver bars at a rate that will ensure you get good returns.