The big momma of silver bullion, the 100-oz. silver bullion bar is the largest size regularly available from refiners. Almost 7 pounds of 0.9999 fine silver (6.86 lbs to be exact, or 3.11 kilograms) per bar let you add big value to your precious metals savings at a miniscule premium over spot price.
Silver bars are an attractive choice of precious metal investments. They are simple, elegant, and more affordable than their gold counterpart. The 100-oz silver bar is a great way to diversify your portfolio or savings, as silver is regarded as a wise long-term investment choice by industry leaders. Over the past 20 years, the price of silver has risen by almost 500%, and its price is predicted to keep rising through uncertain economic times and further fiat currency debasement. Still, the 100-oz Silver bar is a sizable investment that shouldn’t be taken lightly.
- 100 oz. silver per bar (6.86 lbs, 3.11 kg) is still not too big to easily transport
- 0.9999 fine silver
- Miniscule premium over spot price compared to other silver products
- Best way to make a big addition to your silver stack without overpaying
Silver, along with gold, has been a common form of precious metal bullion since ancient times.
Ingots or bars were created for the purpose of efficiently storing large quantities of silver, hence the stackable, rectangular shape. Silver has been synonymous with money for thousands of years. Some of the earliest types of coins were silver coins, and the monetary use of silver spans over several civilizations. The creation of silver bars predates ancient times, but they became a necessity for the Roman Empire thanks to their overwhelming quantities of silver and other precious metals. During Rome’s expansion throughout Europe, they became the largest silver mining force in the world with peak production reaching 200 tonnes a year.
Silver, similar to gold, also had an important, migratory role in the history of the United States. Gold wasn’t the only precious metal that sparked mania over locating gold, like the California Gold Rush. A silver rush is a mass migration process sparked by the discovery of silver-bearing ore, the equivalent of a gold rush. Silver mining in the U.S. began on a larger scale in 1858, with the discovery of the Comstock Lode in Nevada. Although it initially began with the discovery of gold, the Nevada Silver Rush rivaled the California Gold Rush in size and scope.
Unfortunately, not many years after in 1873 Germany adopted the Gold Standard and dumped its silver reserves. It had a large global impact on the silver trade as the U.S. and other nations quickly followed by demonetizing silver. The Sherman Silver Purchase Act was passed in 1890 that forced the government to buy 4-½ million ounces of silver a month, and use it to coin silver dollars. It made the U.S. government the 2nd largest global buyer of silver. It lasted only 3 years as the financial panic forced the repeal of the Sherman Silver Purchase Act.
Continuing the volatile history, President Franklin D. Roosevelt passed the Silver Purchase act of 1934 which authorized the government to confiscate gold and silver from private citizens. The U.S. Treasury bought silver at 50 cents per ounce which almost doubled the market price of silver. Several years later, the Silver Purchase Act of 1946 made the U.S. the top silver buyer as the Treasury bought all domestic silver at the rate of 90.5 cents per ounce.
Following World War II, the global economy continued growing even after the WWII boom in the 1950s. The nations that were destroyed had gotten back on their feet, and the demand for silver exploded. It was the first year that global silver demand had outgrown production by such a large margin.
Silver has had a volatile history, arguably even more so than gold. The trend has continued to this day, and the price of silver continues to be more volatile than gold with the gold-silver ratio being a good indicator of that. The ratio shows how many ounces of silver can be bought with one ounce of gold.
Many consider silver bars a wise investment strategy, and it’s notable how the silver price rises during economic uncertainty. But, it’s also worth mentioning that the buyer should decide if they are going after a slightly more volatile precious metal like silver, or a slightly more stable one like gold. In any case, both precious metals are considered a solid, value-retaining, medium to long term investment.