To get the most out of your silver bullion, you need to know what silver bullion bars and why investors collect them. Silver bars like the 10 oz freedom bar are a popular collection item. Read below to learn more.
What is a precious metal?
First, let’s start with the definition of a precious metal. A precious metal are commonly referred to as coinage metals made up of gold and silver. They tend to be less reactive than most elements and are usually ductile. Today they are mainly regarded as investments and industrial raw materials.
Silver Bullion Bars
Silver bullion bars are known for their purity and weight coming in many shapes and sizes ranging from 1 gram to 5,000 grams. Two exceptions are the Royal Canadian Mint and the Perth Mint. They are considered legal tender and are cheaper because of their purity. They are .999 fine silver that come in two basic forms: poured and minted. Let’s explain the difference of these below.
Poured– Poured bars are individually made by pouring molten silver into molds.
Minted- Also known as pressed bars, are cut from bar stock, and stamped with a design, like coins and rounds.
The different names of silver bars
Most investors like to shop for certain kinds of bars. When shopping you may notice that bullion bars are described as being “name brand” or “generic”. Why? Well, name brand bars are made by famous refiners such as PAMP Suisse, Engelhard, and Johnson Matthey but, these bars are privately minted in the USA.
“Generic” bars are produced by any number of smaller refiners. They are known to have lower premiums and are minted each year to meet consumer demand.
The different sizes of silver bullion bars
So, the most recognizable are 10 ounces or 100 ounces. The 100-ounce bar is tested differently than the 10-ounce bar. For example, the 100-ounce bars have more silver content and purity than the 10-ounce and may come with minor defects, light scratches, and are heavier than 10-ounce bars.
10-ounce bars are generally known for the designs on the obverse side and usually come in perfect condition.
Bullion Express offers a great selection of silver bullion bars. Shop our store and get yours today!