Investors in precious metals, and particularly those who specialize in silver bar investing, know very well the common bar sizes like small one-ounce bars or the large 100 ounce ones. The 10 ounce bar, on the other hand, frequently goes unnoticed — many people simply aren’t aware it exists or that it can be purchased.
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The 10 ounce bar turns out to be an excellent investment tool. It’s large enough as a bar to make a decent sized investment, while at the same time it’s small and light enough to transport and store almost anywhere. A number of different companies produce versions of the 10 ounce bar, which means you can expect to get different prices as you look at different brands.
As with any other kind of silver bar, the brand has a significant effect on the price you will pay. Since most silver bars of similar size are identical in appearance, it can be difficult to believe a brand will have much of an effect, but it’s true. Some people will only buy bars which are manufactured by their personal favorite brand. Below you’ll understand everything you need to know about the world of 10 ounce silver bars.
As with any other size silver bar, ten ounce bars are made by many different companies. For some buyers a brand name is irrelevant because a ten ounce silver bar from any company is still a 10 oz silver bar. For others, brand name is everything and if a given website does not have the style or company they want then they’ll gladly go elsewhere.
If you do become loyal to a brand, be aware that premiums will change from brand to brand. Just like T-shirts from a high-end clothing firm cost more than low-end T-sirts, some silver bars carry a higher premium than others. As a buyer, your job is to see what different brands exist and choose which you prefer, or, in the event you don’t particularly care about the brand, choose which costs you the least premium.
Some of the popular manufacturers of 10 oz silver bars are:
Silver Bar Dimensions
As the silver bar weight goes up, so too does the physical size. 10 ounce bars are certainly not the biggest variety of silver bullion, but they’re fairly large compared with a 1 ounce bar. Still, storing a quantity of 10 oz bars should not be too hard or space-consuming for most investors. A typical silver bar’s dimensions are approximately 46mm by 90mm by 7.58 mm — if you’re from the US, this is approximately 2 inches by 5 inches.
Of course each brand of bar has small variations in the precise dimensions, but you’ll find most widely circulated 10 oz bars have similar dimensions to the ones just mentioned.
Storing many 10 ounce silver bars shouldn’t be hard. They aren’t much larger than a shoe or a TV remote. Unless you’re buying bars by the thousands, it should be no trouble to find space inside your house. Most people put the bars in a safe or another container to keep them safe and in one place, so it’s easy to access them.
As you get into 10 and 100 oz silver bars, you start to hear about investors looking for third party firms who will watch their investment. Unless you really have a massive collection of bars, however, this would probably be a waste of money for you.
Silver Bar Premiums
As with almost any kind of precious metal, silver bars are sold at a premium. A premium is simply the amount of money beyond the spot price of raw silver that the silver bar is on sale for. Most often, you’ll see the premium on silver is not much more than $2, though depending on the silver bar’s brand name and the year in which the bar was minted, the premium over spot can change a significant amount.
As one dealer may charge a very different premium on the same bar than another dealer would, it’s very important for you to shop around and compare prices on silver bars in order to get yourself the best deal. Failure to compare prices between different online dealers means you’ll very likely find yourself paying too much money for your purchase of silver bullion.