5 Ounce Silver Bar

What is a 5 oz Silver Bar?

If you’re ready to take the leap from coins and 1 oz silver bars to weightier investments, 5 oz bars are a great jump off point. They’re not as much of a leap as 10 oz bars, and still, they’re an excellent investment. With a 5 oz bar your investment is larger, therefore building up your long term wealth.

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What is the weight of a 5 Troy oz Silver Bar?

Let’s go into a little more depth about the weight of these bars. Of all the sizes, the most popular bar is the 1 troy oz. It’s bought, sold and traded all around the world. Most countries have a 1 oz bar even countries that use the metric system. For the most part, bars and coins are produced in the 1 troy oz size because of its popularity. 

Here’s something important to keep in mind: A troy oz is very different from an avoirdupois ounce, which is the type of ounce most of us are used to. An avoirdupois ounce is what we use to weigh cheese and fruit at the grocery store and what we use on the bathroom scale. In reality, a troy ounce is a bit heavier. 

Here’s how they weigh out:

  • A troy oz is equal to 31.1 grams. 
  • An avoirdupois ounce has 28.35 grams. 

If you had a 10 oz apple in one hand and a 10 oz silver bar in the other, the hand with the silver bar would be heavier. For reference, this bar is about the same size as a military dog-tag, but a bit thicker.

  • Width: 38.1mm or 1.5 inches
  • Length: 63.5mm 2.5 inches
  • Depth or Thickness: 6.35mm .25 inches

Why are they a good idea?

It’s easy. Five oz bars are popular and demand is high for them. They still build wealth as an ample investment but aren’t as pricey as 10 oz bars because they don’t weigh as much. These bars are produced at the Sunshine Mint and are 999 fine silver. They feature a special security design feature, which is the repeating sunburst you may be familiar with already from the 1 oz bars. These bars are great for investors or collectors and are IRA eligible. 

Silver investors already know all of the reasons to buy silver bullion. Here are just a few:

  • Demand is high  
  • It’s used as currency
  • It’s desirable for collectors
  • First-time investors find it both appealing and affordable. 

Many times a first time investor will go for the 1 oz silver bars because it’s an easy way to get started, however the 5 oz bars are a great investment. They allow investors to nab a stronger portfolio while not taking up too much space. 5 oz silver bars are easy to manage and super easy to transport. These bars are the perfect middle ground, larger than the 1 oz, smaller than the 10 oz.

What to look for before buying Silver Bars

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Here are some things to look for when investing in a 5 oz bar or in any size silver bar:

  1. Weight Your silver round or bar should show you how much it weighs. They are typically weighed in troy ounces as 5, but can also show in grams. If in grams, it might say 155.5 grams, which is the same as 5 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 five ounce silver-plated bar of copper.

What is the weight of a 5 Troy oz Silver Bar?

Let’s go into a little more depth about the weight of these bars. Of all the sizes, the most popular bar is the 1 troy oz. It’s bought, sold and traded all around the world. Most countries have a 1 oz bar even countries that use the metric system. For the most part, bars and coins are produced in the 1 troy oz size because of its popularity. 

Here’s something important to keep in mind: A troy oz is very different from an avoirdupois ounce, which is the type of ounce most of us are used to. An avoirdupois ounce is what we use to weigh cheese and fruit at the grocery store and what we use on the bathroom scale. In reality, a troy ounce is a bit heavier. 

Here’s how they weigh out:

  • A troy oz is equal to 31.1 grams. 
  • An avoirdupois ounce has 28.35 grams. 

If you had a 10 oz apple in one hand and a 10 oz silver bar in the other, the hand with the silver bar would be heavier. For reference, this bar is about the same size as a military dog-tag, but a bit thicker.

  • Width: 38.1mm or 1.5 inches
  • Length: 63.5mm 2.5 inches
  • Depth or Thickness: 6.35mm .25 inches

5 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 5 oz silver bar worth?

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A 5 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 silver 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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