100-oz silver bars for sale
Silver bars are a convenient way to invest in silver because they are uniform in shape, which means they are easy to stack and store. Further, because silver bars individually weigh only 6.86 pounds on bathroom scales, they are easy to handle.
Most 100-oz silver bars are .999 fine (essentially pure), which means investors can store a great amount of wealth in a relative small space. Because 100-oz silver bars are accepted trading units, they are as easily sold as they are bought. Buy silver bars with confidence that you are getting universally recognized silver investments.
Buy silver bars readily available
The most readily available 100-oz silver bars are Academy, Ohio Precious Metals, Johnson Matthey and Royal Canadian Mint. Wall Street Mint silver bars, which are no longer manufactured, sometimes are available.
Sunshine Minting silver bars, although still being made, are difficult to come by. The company offers no explanation as to why their production is low.
Engelhard silver bars have not been made since the 1980s and often are not available. When Engelhard silver bars are available, you can buy them knowing that the bars were manufactured by one of the esteemed names in the precious metals industry.
Royal Canadian Mint silver bars
The Royal Canadian Mint manufacturers some of the highest quality bars on the market. Silver bullion dealers simply call them RCM 100s.
RCM 100s are flat and uniform, making them ideal for safe deposit boxes.
RCM 100s are the only .9999 (four 9s) 100-oz silver bars being produced. RCM 100-oz silver bars are serial numbered, as are Academy 100-oz silver bars.
Ohio Precious Metals silver bars
Ohio Precious Metals is a respected regional refinery that turns out attractive, flat cast 100-oz silver bars. OPM bars are suitable for stacking and storing as they are similar in size and shape to the old poured Engelhard silver bars.
The bars are marked Ohio Precious Metals, .9995 fine. They are not serial numbered.
Johnson Matthey silver bars
Because of the esteemed name, Johnson Matthey silver bars are popular. Johnson Matthey currently is manufacturing poured (cast) 100-oz silver bars, but production is not enough to meet demand, resulting in Johnson Matthey silver bars carrying higher premiums than Academy, Royal Canadian Mint and Ohio Precious Metals silver bars.
Johnson Matthey has not produced their struck silver bars since the late 1980s; therefore, struck JM silver bars are available only when sold by investors who bought those bars years ago. Making the Johnson Matthey struck silver bars still more scarce is the fact that not many were made in the first place.
Old JM poured 100-oz silver bars are serial numbered, the new ones are not.
Wall Street Mint silver bars
Wall Street Mint silver bars are no longer produced, but occasionally they show up in the secondary market. Because Wall Street Mint bars were produced relatively recently, they normally are in pristine condition.
Wall Street Mint 100-oz silver bars were produced by an extrusion process and are the same dimensions as extruded Engelhard silver bars. Wall Street Mint and Engelhard extruded100-oz silver bars are ideal for stacking and securing in safe deposit boxes.
Wall Street Mint is better known for its 10-oz silver bars, which carry the skyline of New York City with the Twin Towers still standing. WSM’s Twin Towers bars rarely are available.
Sunshine silver bars
The name Sunshine is nearly synonymous with silver because of the famed Sunshine Mine, in the equally-famed Coeur d’Alene Mining District, near Kellogg, Idaho. Further illustrating Sunshine Minting’s prominence in the silver industry, the U.S. Mint uses Sunshine 1-oz blanks to produce its Silver Eagles.
Investors can buy Sunshine silver bars with confidence that they are buying a renowned name in the silver industry. Old Sunshine silver bars can be either struck or extruded. New Sunshine silver bars are hard to come by, and no one seems to know why.
Most Sunshine silver bars are serial number, but a few are not.
Engelhard silver bars
Engelhard silver bars remain popular despite not having been manufactured since the late 1980s; however, they are not always available.
Most Engelhard 100-oz silver bars are extruded (maybe 20% are poured) and are ideal for storage in safe deposit boxes. All extruded Engelhard silver bars measure the same; poured Engelhard silver bars can vary a little in dimensions.
Engelhard 100-oz silver bars are serial numbered.
Academy silver bars for sale
Academy silver bars are popular with silver bar buyers because they are manufactured with CNC (computer numerical controlled) machine tools that result in precision cut bars being identical in size and shape. Academy silver bars are the only silver bars that we know of that are manufactured with this high-tech process.
Because of interlocking grooves, Academy bars can be stacked like Lego pieces. Academy 100-oz silver bars are serial number, which is not the case with most other silver bars presently being manufactured. (RCM 100-oz silver bars also are serial numbered.) Academy 10-oz silver bars are also available but are not serial numbered.
In 2010, Academy Corporation was acquired by a subsidiary of Brush Engineered Materials Inc. an Ohio-based company. Recently, Brush changed its name to Materion Corporation, which trades on the NYSE under the symbol MTRN.
Materion plans to unify all of its businesses under the new name, and sometime in 2011 Academy silver bars will be changed to Materion.
Silver bars: .999, .9995 and .9999
.999 fine 100-oz silver bars, usually stated as “three nines silver bars” have been industry standards since the early 1970s. And, they remain industry standards despite some refineries stamping higher purities on their bars.
For instance, the Royal Canadian Mint produces .9999 (“four nines silver bars”), and Ohio Precious Metals stamps .9995 on their bars (“three nines and a five”).
Meanwhile, Johnson Matthey, one of the most prestigious names in the precious metals industry, continues to stamp .999 on their bars, as does Academy Corporation. JM and Academy bars would probably assay much higher, but those two companies put simply .999 fine on their silver bars.
How 100-oz silver bars came to be
In the early 1970s, inflation ran rampant, and investors moved to protect themselves by buying silver, one of two proven inflation hedges. Gold, of course, is the other, but before December 31, 1974, investors could not legally own gold bullion.
To meet the surge of silver buying, small refiners began turning out .999 fine silver products. By the mid-1970s, demand was robust and Engelhard, a major precious metals refiner, began producing .999 fine silver products. Engelhard 100-oz silver bars were instant hits, and shortly thereafter Johnson Matthey, another prestigious precious metals refiner, began pouring 100-oz silver bullion bars.
Engelhard and Johnson Matthey cease producing silver bars
By the mid-1980s the Reagan administration had brought down the rate of inflation, and silver buying waned. As a result, Engelhard and Johnson Matthey ceased production of silver bullion products.
Although Engelhard never again produced silver bars, in 2003 Johnson Matthey returned to the silver bar market with its poured 100-oz silver bars. However, JM 100s usually carry higher premiums than other 100-oz silver bars.
Silver Bars for IRAs
One hundred ounce silver bars have become quite popular for IRAs. However, for large IRA silver investments, CMIGS recommends that investors consider 1,000-oz silver bars, which nearly always are available at smaller markups over spot than are 100-oz silver bars.
Still, IRA investors who think that some day they may take delivery of the silver in their IRAs should consider buying 100-oz silver bars despite their premiums being higher than the premiums on 1,000-oz silver bars.
CMIGS does not recommend that investors buy 1,000-oz silver bars for personal investments because their weights often exceed seventy pounds, making them expensive to ship and difficult to handle.
Other silver bars
Investors wanting still lower premiums than those offered by 100-oz silver bars may want to consider RCM (Royal Canadian Mint) 850-oz silver bars. The RCM bars are not exactly 850 ounces, but that is the approximate average weight of these unique bars.
With the individual bars usually weighing less than sixty pounds, they can be shipped economically. Further, weighing less than 60 pounds, they can be handled by most investors. By comparison, $1,000 face junk silver coins weigh 55 pounds.
RCM 850-oz silver bars are not always available.
More about Buying Silver Bars
If you would like to discuss any aspect of buying silver bars or other silver bullion products, call us. The minimum order for silver bullion at CMI Gold & Silver Inc. is two hundred ounces, which, of course, means that the minimum 100-oz silver bar order is two bars.
However, our Silver Specials page often has individual100-oz silver bars for sale.
To learn still more about doing business with CMI Gold & Silver Inc., visit our Doing Business with CMIGS page. We take calls 7:00 a.m. to 5:00 p.m. MST, Mondays through Fridays.