Description
The 100-ounce bar is a long-standing format in the North American silver market. Most are poured or cast by refiners and private mints, then stamped with the refiner’s mark, the weight, the fineness (commonly .999) and a serial number that makes each bar individually identifiable. The refiner supplied varies with inventory and is confirmed with you before purchase.
Large bars spread manufacturing and handling costs across a great deal of silver, which is why they usually carry the smallest premium per ounce of any silver product Opulent Gold Group offers. One bar also replaces a hundred separate one-ounce pieces, simplifying record-keeping and storage.
The trade-off is divisibility. A 100 oz bar cannot be partly sold; when it is time to sell, the whole bar is sold at once. Buyers who expect to sell in smaller amounts often combine large bars with 10 oz bars or one-ounce products. Bars from well-known refiners are generally easier to resell.
At about 6.86 pounds (3.11 kilograms) each, 100 oz bars are usually kept in a professional depository, particularly inside an IRA. Silver is historically more volatile than gold, and storage and insurance costs should be part of any plan. Bars that meet the required fineness and come from a refiner your custodian accepts may be held in a self-directed IRA.
