Buying precious metals has been a popular investment activity for centuries, and both gold and silver are among the top investment vehicles to choose from. Silver is a top metal to consider because of its incredible ability to provide a hedge against inflation and because its worth has increased substantially over the past few decades.
Before you consider how much silver bars for sale cost and how to buy silver, you may want to take a closer look at a 10 oz bar of silver. While silver is available for purchase in sizes that range from one-ounce to 100-ounces, silver 10 oz bars are a popular choice that works well for many investors regardless of their funds available. You can easily compare these bars against available silver bullion and coins listed online to make an intelligent buying investment decision for your needs.
How Much is a 10 oz Silver Bar Worth?
One of the first questions you may be asking yourself when exploring the silver investment options available is, “what is a 10 oz silver bar worth?” This is an important question. The 10 oz silver bar value as well as current silver pricing will help you to determine how many bars you can feasibly purchase with the funds you have available.
It is easy to calculate the value of a 10 oz silver bar. First, you look at the spot price for silver. “Spot price” is defined as the price at which a commodity could be transacted and delivered on right now. This will number will tell you the current valuation of a single ounce of gold or in this case, silver. Then, you multiply this figure by ten to learn about the value of 10 ounces of silver. As you shop around to get the best 10oz silver bar price, you can use spot prices to avoid paying too much for your silver bars.
Types of Silver Bars That Are 10 oz
Ten ounces is a common option for silver bars, and there are many top dealers that offer these bars. For example, if you want to make the best buying decision possible, you may look for bars from Engelhard, Johnson Matthey, Royal Canadian Mint, Elemetal and others. Conduct your research about these various options thoroughly as everything from the size of the bars to the price over spot will vary from option to option and from dealer to dealer.
How to Make a Large Silver Purchase
While some people want to purchase one or two silver bars, others may want to purchase hundreds of bars or more to fully take advantage of all of the benefits that silver offers as an investment vehicle. If you want to make a large purchase, you have a few options. For example, you could purchase several cases or more of silver bars. You may also look at purchasing larger bars or bullion to add to your portfolio. Buying bars and bullion is often better than buying individual coins when quantity is a factor, but some investors prefer to purchase coins because their collectability can cause a greater valuation increase over time.
How to Save Money When Buying a 10 Ounce Silver Bar
When shopping for silver for sale, you may be interested in shopping around to find a great value for your investment. First, keep in mind that the premium you pay over spot can vary from dealer to dealer. The top dealers are listed on the U.S. Mint’s website, and these are dealers that offer silver for sale at the spot amount or for only a small premium over spot. You also need to focus on the shipping costs. True silver can have a very heavy weight, and this is particularly true when purchasing a large number of silver bars. The best dealer to buy from is one who provides free shipping. Keep in mind that shipping charges can be detriment to your return on investment, and you can keep your investment charges as low as possible with free shipping.
Before You Finalize Plans to Buy 10 oz Silver Bars For Sale
A final point to focus on before you purchase silver bars as an investment is the dimensions of the bars. The size of bars can vary significantly based on the amount of silver in each bar as well as other factors. Both the size and the quantity of bars you purchase will have a direct impact on your storage needs. You will need to carefully store the bars to preserve their value as well as to prevent theft. Ensure that you have a large enough space available to store your bars before you place your final order.
If you need to make a large purchase, investing in a case of fine, poured silver bars may be a wise decision. Likewise, if you want to purchase a thoughtful gift for a loved one, investing in a single 10 troy ounce silver bar may be a good idea as well. Whatever the reason behind your purchase, the decision to purchase 10-ounce bars of silver should be made with care. Everything from the quantity to the types of bars and the dealer you purchase your bars from can affect your investment. Focus on these points to make a savvy buying decision.