Silver maybe is mostly used as an investment or for industrial purposes of making jewelry, bullion coins, and exchange-traded products. The price of silver has fluctuated from as low as 25c per ounce during the Great Depression 1932-1933 to two high points of approximately $50 per ounce. It’s a more affordable investment than gold bullion, but also a more volatile one. Silver bars are regarded by experts in the field as a clever medium to long-term investment strategy, as they have the smallest premiums out of all bullions.
Silver bars come in various weights and sizes from large 1000 oz troy bars/ingots to tiny aka fractional 1-10 gram bars. They are typically stored in large quantities because many are needed to represent a significant hoard. There’s an appropriate silver bar investment for everyone.
The 10-oz Silver bar is a popular choice and for good reasons. A 10-oz. bar is an excellent compromise between the portability of the 1-oz. bar and the extremely low premium over spot charged on larger silver bars. Equally suitable for first-time investors, or a more diversified silver stacker interested in diversifying their stash.
- 10 oz. silver bullion bar from random refinery
- 0.999 fine silver
- Great balance between portability and low premium over spot price
- Easy to stack, stash, or cache
Silver was first found in large deposits around 5000 BC, while prehistoric people were digging for copper. Its great value and aesthetic appeal were quickly recognized by many cultures where it was used to make jewelry, ritual objects, tableware etc. Some time later small amounts of silver started being used in trade or to store wealth, then at last as a common medium of exchange between groups. The first large-scale silver mines were developed in Anatolia by 3000 BC.
Silver had a prominent monetary role in Greek civilizations, and it was first used as a coinage metal in their times. It has given birth to civilizations like the Athenian Greeks, whose rise was in part made possible thanks to large silver deposits found in the Laurium mines. Large amounts of silver from Spain helped build the ancient economies of the Mediterranean. Iberians, natives from today’s Spain had been extracting silver since 4000 BC. When the Roman Empire conquered the area around 200 BC, they financed their expansion even further, mining 200 tonnes of silver per year.
As silver was synonymous with the history of money for thousands of years, it’s not hard to understand why a more efficient form for storage and transport of silver was needed. Rough silver bars were created in ancient times for that purpose. They were produced by casting molten gold into pre-shaped molds. They are much easier to store and transport than crude silver or silver coins as they can be stacked on top of each other. Collectors of silver and other precious metals are nicknamed stackers because of it. A silver bar is defined as a common form of precious metal bullion.