1 Ounce Silver Bar

What is a 1 Ounce Silver Bar?

1 oz silver bars are some of the smallest in the silver bar category but they’re still a very popular choice for those investing in silver bullion. The small bars are great because they’re easy to buy and sell. They are perfect for shipping and storage because of their size and they don’t require bank-breaking initial investment. Getting started with these coins requires only a small monetary investment.

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What to look for before buying Silver Bars:

  1. Weight Your silver round should show you how much it weighs. They are typically weighed in troy ounces as 1, but can also show in grams. If in grams, it might say 31.1 grams, which is the same as 1 troy ounce. 
  2. Purity Look for it to show at least three 9’s, expressed as .999. This means it is 99.9% pure silver. (Investment-grade silver is at least 99.9% so it’s very important to see that directly on the bar.) Another way pure silver is expressed is with the words “pure” and “fine”. “Fine” is at least 99.9% pure. (If your bar has less purity, like .925 or sterling, it commands a much lower price and is not considered investment-grade.)
  3. Metal Type This might be obvious, but your silver round should indicate that the metal type is silver. In the scientific expression, it could be indicated as “AG,” which is silver on the periodic table of elements. 

Summary: Make sure your silver bars or silver round show all three elements listed above. There are fake items that show one or two of these and you might be buying a one ounce silver-plated bar of copper.

Types of 1 oz Silver Bars

When looking to diversify your investment portfolio, silver is a great choice. Why? Because it is a lower-cost initial investment than gold and silver bars are available in many different types and styles. Here’s a look at two of the ways these bars are made: 

Minted Silver Bars

Minted bars are considered the go-to method when investing in the silver market. They are readily available and world renowned. They usually have some sort of design or printing on them. They are pure, investment-grade bars of silver and because of this, these coins are always in demand. 

Cast Silver Bars

These bars come from a variety of refineries. They are cast in an old-fashioned, traditional way, which makes these bars each a little bit different. Because these bars are primarily hand-poured, they are a truly unique investment. These bars appeal to those who are drawn to uniqueness as ‘no two bars are the same.

Comparing 1 oz Silver Bars to 1 oz Silver Coins

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Why buy silver bars?

If you’re thinking of investing in precious metals, there are many ways to do this. You can invest in bars, rounds or coins. Each product requires a different investment strategy and each investment will take the buyer down a different route. A popular product for collectors in the world of coin investment is the American Silver Eagle, which is a silver coin. It’s price goes up and down based on the price of silver. This is a popular coin with investors because it’s very well known. 

Coins are popular because they are minted by a sovereign nation and have a denomination of a local currency minted on the coin.  For example, the American Silver Eagle is Minted by the United States Mint and has a denomination of $1 for their coin.  This means you can spend it anywhere as legal tender.  Although it would be foolish to do so because the value of the silver far exceeds the face value of the coin.  

The Silver Canadian Maple Leaf Coin is minted by the Royal Canadian Mint and has a face value of 5 Canadian dollars. 

Silver coins have a higher premium because they are minted by a government and not a private company. Coins are a great investment and they’re popular with first time investors. Silver bars and silver rounds are also great.  Here we’ll highlight some of the greatest benefits of investing in 1 oz silver bars: 

  • Cheaper to ship Because these bars are only 1 oz, they are convenient to ship, plus they are cheaper to ship than the heavier bars. Their small size and light weight makes them the perfect investment for someone buying online. 
  • Easier to store These bars can fit in your pocket and for this reason they are easy to store. You don’t have to keep them in your pocket, but you could put them in a drawer or another location and go back to marvel at their beauty from time to time. Plus they are easier to keep track of because of their size and the fact that they stack easily, which is great for those who are just starting out with bullion investment.  
  • An excellent way to store wealth Bullion bars are an excellent way to store wealth tangibly. This means that in the future, if needed, you could trade, barter or cash in your investment to pay for something different. These bars are excellent for this reason. If you’re looking to purchase something low in price, you’ll only have to bring a few bars, but if your purchase is bigger, you can bring a bunch.

1 oz Silver Bars: Are they a good investment?

These bars are an excellent investment for long-time buyers and for those just starting out. For first time buyers these are an excellent entrance into the world of bullion buying because these are readily available to purchase and they are considered to be a low-risk investment. Plus, there is always demand for these bars, so that means, when it comes time for you to sell, the fact that they are readily available isn’t going to work against you, buyers still demand these bars. The fact that these are smaller bars is another reason they’re a great investment. If you want to sell only a portion, that can be done. You don’t have to offload your entire investment if you don’t want to. Also, silver, in general, is a low-risk investment and it’s also considered a very flexible investment. 

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How much is a 1 oz silver bar worth?

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A 1 oz silver bar’s value is determined by the current spot price on silver. The spot price on silver may fluctuate during the day, week and month, so it’s worth it to always be looking at what the spot price is. Check the footer of CrownGoldExchange.com to see the current silver price.

Do I have to report my silver purchases to the IRS?

The sale or purchase of silver bars is only reported to the IRS under form 1099-B under two circumstances.  The first is if the transaction amount is over 1,000 troy ounces and the second is if it’s over $1,000 in face value of 90% silver U.S. coinage.  Silver coins like the American Silver Eagle, Canadian Maple Leaf, and others are exempt from this reporting for any amount. You could purchase a few million dollars worth of American Silver Eagles and the IRS would NOT be notified.  This is another reason why the American Silver Eagle coins command a slightly higher premium.
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Choose Crown Gold Exchange

Crown Gold Exchange holds the utmost respect for you and your valuables. When you visit one of our locations, we make sure that you feel welcome, and that your property is protected. We use industry-standard equipment to ensure accurate measurement of your valuables, and we have a special process to keep your valuables safe. Our accuracy enables us to offer you top dollar, and we have several different payment methods available for your convenience, so you won’t be waiting around to get paid.

Crown Gold Exchange will purchase any kind of gold you bring us, including 8-karat, 10-karat, 14-karat, 18-karat, 21-karat, 22-karat, 24-karat, or anything else. We buy gold bars, gold bullion, gold jewelry and some gold plated items like pocket watches. If you happen to be in possession of an exclusive piece made by a top gold designer such as Cartier, Tiffany, Rolex, or Patek Philippe, we will often pay more than the weight of the item. Such special pieces often command a higher price on the secondary market due to their superior craftsmanship.

BUYING YOUR GOLD, SILVER, DIAMONDS AND COINS SINCE 2010

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