Because the price of silver moves independent of stocks and cash, many find it to be a valuable commodity for safe investing. Silver has been used as a source of currency, and in industry, for centuries. The affordability of silver makes it an ideal metal to regularly invest in over a long period of time.
The rectangular shape of silver bars makes it easy to store in a safe or safety deposit box. Provident offers a broad selection of silver bars in various weights, and made by a number of mints. We invite you to browse our catalog of silver bars, as well as other silver bullion products.
What is a Silver Bar?
Silver bars provide an investment option that is comparable to buying silver coins or rounds, but in a larger, rectangular form. The silver bars offered at Provident all consist of at least .999 fine silver and are manufactured by both sovereign and private mints that assure quality and metal purity. For this reason, these products are eligible for most precious metals IRA accounts.
The various weights of silver bars allow you to choose the size of your investment. While some of these products are decorative, many are designed purely to assist you with your investment goals. Investing in a hard asset like silver provides a hedge against inflation and a safe haven commodity in times of economic uncertainty.
Silver Bars vs. Silver Coins or Rounds
Silver coins and rounds lend well to collectors. They often have beautiful, intricate designs and many are produced as part of a series. Limited edition or rare coins and rounds may come with certificates of authenticity, adding to their value as a collection.
While any silver bullion can be used for investment purposes, bars are designed with investors in mind. They are often simpler in appearance, yet still add immense value to your bullion portfolio. The ability to select a bar from several weight options gives you more control over your investment. Bars also come conveniently shaped for stacking and storing.
Which Silver Bar Should I Buy?
The right silver bar depends on your goals. You will need to consider whether you are interested in collecting bars with designs that appeal to you, or if you are purely interested in investing in the metal. A simple bar may cost less than a bar with a design on it. So if your main goal is investing, stick with the most economical silver bar.
Additionally, you will need to decide how much of the metal you wish to buy at one time. Your budget will determine the weight of the bars you buy. We offer silver bars that weigh as little as one ounce and up to one hundred ounces.
Another consideration is brand loyalty. If you prefer bullion products from a specific mint, you may wish to buy bars from the same mint. For example, individuals who admire Canadian Silver Maples may also enjoy silver bars made by the Royal Canadian Mint. Buying silver bars also gives you the opportunity to explore products from private mints like PAMP Suisse, Engelhard, and Geiger.
Why are Silver Bars Different Prices?
Not all silver bars are sold for the same price. One reason the price may vary is by weight; a bar that weighs more will cost more because more metal is present. However prices may vary between bars of the same weight as well. This may be because of an intricate design, a proprietary technique used by the mint, the purity of the metal, or a number of other reasons. The price you are willing to pay can help dictate which bars you should focus on when considering a purchase.
Are Silver Bars Easy to Sell?
If you no longer want your silver bars, there are plenty of outlets for you to sell them. This may also come in handy in times of extra financial need. Provident has an excellent “sell to us” program that offers cash for your bullion. You can also check with local jewelers and other industry professionals who understand the process of appraising precious metals. The value in owning silver is that you can always sell it at spot price once cash is needed.
What is Spot Price?
Spot price is a term that refers to the current price of a precious metal at any given time. Prices are in constant flux while international markets are open. Certain political and financial events or news can impact the prices of metals, so spot prices are very reactive to what is currently happening around the world. Keeping an eye on spot price trends helps you determine the best times to buy and sell your silver.
Should I Invest in Silver?
Silver has a long-standing history of being used for monetary purposes, with some of the earliest coins struck consisting of the metal. It has also been used ornamentally and medicinally, along with various other uses. The utility and inherent value of silver makes it a popular choice for those who invest in precious metals. With a low price tag per ounce, silver makes an ideal choice for long-term investing or gifting to loved ones. Silver’s affordability also makes it a great metal for new investors, giving them an opportunity to become familiar with the industry without a burdensome financial commitment.
Why Choose Provident?
Provident is committed to offering products and tools to help you achieve your investment goals. Our catalog of precious metal bullion has something to please all types of investors and collectors. You can view our spot price charts for up-to-date pricing, which can assist you in deciding when to buy and sell. Additionally, Provident makes every effort to protect your security while you shop.
After browsing through our silver bar offerings, take a look at our blog for industry news and fun tidbits about metals.