Best Silver Bars to Buy For Investment – How To Choose Right

Updated May 28, 2024

Would you like to diversify your investment portfolio into secure assets but don't know which ones to choose? Investing in precious metals is a great avenue for planning for retirement and guarding yourself against volatile financial markets. One such precious metal is silver. But why silver? You may ask.

Silver is a precious metal that has gained investors' attention apart from gold since it has the potential to guard against economic instability. What are the best silver bars to buy? With widespread scams on precious metals, investing in IRA-approved silver bars is wise since you are guaranteed of getting the right purity, weight, and authenticity.

In this guide, we delve into the best silver bars to buy, key aspects to consider before buying them, and their benefits plus drawbacks. This is to help you get a bigger picture of what you are getting into.

Top 10 Best Silver Bars to Buy in 2024

Here are our top picks;

  • Royal Canadian Mint Silver Bars
  • Johnson Matthey Silver Bars
  • Engelhard Mint Silver Bars
  • Sunshine Minting Silver Bars
  • PAMP Suisse Silver Bars
  • Scottsdale Mint Silver Bars
  • Liberty Trade Buffalo Silver Bars
  • Asahi Silver Bars
  • Valcambi Silver Bars
  • Heraeus Precious Metals Silver Bars

1. Royal Canadian Mint Silver Bars


The Royal Canadian Mint has been in operation since 1911 and ranks among the top manufacturers of silver bars. The company has built itself a reputation in the precious metals market because of its exemplary customer service and high-quality production standards. Their silver bars are available in three sizes: 10 Oz, 100 Oz, and 1kg. 

On the obverse side of each bar, you will find the purity, RCM's logo, weight, and serial number. The reverse side has the mint's insignia repetitive pattern. Each RCM silver bar is comprised of .9999 fine silver and is IRA-approved.

2. Johnson Matthey Silver Bars


Just like their names, these bars are produced by Johnson Matthey. They can be 1 Oz, 10 Oz, 50 Oz, and 100 Oz. This gives investors a variety of options to pick. The bars have a JM logo, unique serial number, and weight specification on the obverse. On the reverse side, the bars feature a diagonally oriented JM logo. This information is vital for authenticity and traceability, which is crucial for collectors and investors.

The 1 Oz silver bars are great for small investors trying to find their footing in the precious metals market. On the other hand, the 1-kilo JM silver bar is an excellent option for investors interested in large quantities at cost-effective prices. The simplistic and elegant design makes them appealing to many. 

The bars carry historical value as the company has existed since 1817. Although Johnson Matthey's silver bars are no longer in production, they are still highly sought by many investors thanks to their historical significance.

3. Engelhard Mint Silver Bars


Due to their excellent quality, Engelhard silver bars have gained popularity among investors and collectors over the years. The bars feature a .999+ fine silver stamp, guaranteeing their high purity level. For increased diversity, Engelhard silver bars are available in multiple sizes, 1 Oz to 100 ounces. Their simple but classic design features an Engelhard logo, serial number, purity, and weight.

4. Sunshine Minting Silver Bars


The Sunshine Mint is a renowned mint among investors for its quality products. Being a global leader in anti-counterfeiting technology, they produce .999 silver bars. Moreover, the included security features guarantee investors the authenticity of Sunshine Mint products.

The bar's front side lists the purity level at.999 and weight, for example, Ten Troy Ounces. On the reverse, the bar features an ingenious security feature: mint mark SI. Scan the bar through a decoding lens to authenticate, and the word Valid will be displayed. The bars are IRA-eligible and are sealed in an air-tight plastic casing to prevent blemishing.

5. PAMP Suisse Silver Bars


PAMP (Produits Artisques Metaux Precieux) is one of the largest metal refiners in the world. The firm produces a variety of silver bars from 10g to 1kg and beyond to suit different investors. The firm is located in Switzerland; it's world-renowned for its top-notch quality and craftsmanship in producing precious metals. 

Each bar has a unique serial number, weight, and assay certificate for authentication purposes. The PAMP Suisse silver bars deliver exceptional purity since they are struck in .999 fine silver, which is ideal for investment in an IRA. The bars have an impeccable finish and are minted with a beautiful, distinct design.

6. Scottsdale Mint Silver Bars


Scottsdale Mint was founded in 2008 in the USA; it’s a major manufacturer and distributor of high-quality precious metals. The firm uses strict quality control measures and innovative technology to warranty the purity of silver bars. Their silver bars have a purity of .999 to .9999 fine silver, proving their intrinsic value and enhancing their market demand.

The mint's strong reputation among collectors and buyers worldwide enhances its silver bar liquidity. Scottsdale mint silver bars are produced in different sizes and designs. To cater to buyers' diverse needs, they are available in various weights, from small bars to bigger sizes. Each bar features the Scottsdale Mint Lion logo and a serial number.

7. Liberty Trade Buffalo Silver Bars


The Liberty Trade Buffalo silver bars are manufactured by Scottsdale Mint, a reputable precious metal producer, which is a great surety of their quality. These silver bars undergo unique craftsmanship to give them an excellent finish, and they have a .999 purity level, making them IRA-eligible. 

The bar features two symbols depicting North America's historic culture: a powerful American bison on one side and a stoic indigenous figure on the other. These are inscriptions at the top of the bar: LIBERTY, INDEPENDENCE, and FREEDOM.

8. Asahi Silver Bars


Asahi silver bars are produced by Asahi Refining, a company based in Salt Lake City, Utah. The silver bars are COMEX-approved and are IRS-approved for holding in an IRA. These bars are available in 1 Oz, 10 Oz, and 100 Oz. Asahi silver bars have .9999 purity and are consistent in weight. Their value doesn't depreciate over time, and their beautiful finish impresses many.

The obverse side of the 10 Oz Asahi Silver bar features the company's emblem, metal content, purity, and weight. On the back side of the bar, there's a repetitive pattern that embraces the Asahi Metals symbol. Although not as expensive as Valcambi silver bars, Asahi silver bars are great for investors who like to expand their silver holdings by getting high-quality products at lower premiums.

9. Valcambi Silver Bars


Valcambi silver bars are widely known for their remarkable quality and pristine appearance. The bars are available in multiple sizes from 1 gram to 1 kilogram, thus appealing to different investor needs. All Valcambi minted silver bars have fine visuals, including a square Valcambi logo on the obverse. Beneath the logo is the weight, .999 purity rating, and serial number. 

The reverse side of the Valcambi silver bar features the Valcambi name and a repetitive square pattern centered with the logo. Each bar has a sleek design that features purity, weight, and a Valcambi logo. Moreover, every bar has an assay card to verify its authenticity, which is an excellent option for investors interested in tangible but stable assets.

10. Heraeus Precious Metals Silver Bars


Argor Heraeus manufactures Heraeus precious metals. It is based in Germany and has been in operation since 1851. Their silver bars are available in different quantities: 1 Oz, 100 Oz, 10 Oz, and 1 kilogram. Unlike bars with a basic matte finish, the bars have a classy, generic, but no-fuss design with a striking, lustrous finish. The front side features a purity level of .999, weight, company name, and mint mark. 

The obverse side features a stamp with the bar's purity and weight. On the center is a Heraeus logo depicting a hand holding 3 roses, a portrait drawn from the Isaac Heraeus family crest. The bar's bottom has a unique serial number, while the reverse is blank.

Why Should You Invest in Silver IRAs?

Many people invest in 401Ks and traditional IRAs as their retirement plans. However, the volatility in money markets has necessitated people to look into precious metal investment since their market isn't very volatile. Silver, unlike other metals like gold, is cost-effective and doesn't involve high premiums for storage.

Here are key reasons why you should invest in silver IRAs;

  • Diversification - Investing in silver helps you diversify your investment portfolio from traditional financial assets like bonds and stocks. This is a good measure for mitigating potential risks during economic market downturns.
  • Tangible asset - Unlike intangible assets like cryptocurrencies, bonds, and stocks, IRA-approved silver is a physical asset that offers a great sense of security. This tangible asset can be handy in cases of financial uncertainty.
  • Potential for growth - Silver prices have been increasing steadily in recent years, and it's believed that they aren't going to go down any time soon. The overall growth shown by silver prices will positively impact your retirement portfolio.
  • Inflation hedge - Silver and other precious metals like gold and palladium are often used to hedge against inflation. This is because the value of currencies, whether paper or paperless, depreciates when there's inflation. Unlike this, the prices of precious metals tend to increase over time and aren't affected by economic volatility.
  • Liquidity  - Silver products are very liquid assets. You can quickly sell your IRA's precious metals if you need to convert them to cash. This is usually a straightforward process since most silver IRA storage companies can buy back the silver from you.

Factors to Consider when Buying IRA-Approved Silver Bars

  • Authenticity - Always buy IRA-approved silver bars to guarantee their quality and authenticity. Make sure the bars can be traced to a specific dealer or institution to prevent risks of getting counterfeit products.
  • Weight and purity - Reputable precious metal dealers mainly sell silver bars in standard weights: 1 Oz, 5 Oz, and 10 oz. However, high-volume investors may opt for heavier silver bars like 100 oz. Always verify the weight of silver bars before you buy them. Reputable silver bars always feature the metal purity percentage. For example, IRA silver bars should have a purity of 0.999 or higher.
  • Storage - Since you've decided to invest in IRA-approved silver bars, note that you should store them in IRS-approved depositories to avoid extra fines. Please pick a reliable depository to provide maximum security for precious metals.
  • Resale potential - Look into the market demand and popularity of the silver brands you want to buy. Silver bars from well-known brands like those above can be bought and sold quickly. 
  • Charges - Consider the premiums you will be charged for storage rather than the spot price of silver when purchasing. High annual charges will erode your potential returns.

Drawbacks of Investing in IRA-Eligible Silver

Before investing in IRA-eligible silver investment, consider the following related drawbacks;

  • As per IRS rules on precious metals, you can't store your IRA silver at home. If you do, you are likely to pay extra penalties and taxes if found by the IRS. 
  • Silver bars have a lower entry point than gold, thus making them a great option for low-income investors. However, silver prices are uncertain, unlike those of gold, which are relatively stable. 
  • IRA charges for the storage of silver can be expensive. The charges include set-up, insurance, maintenance, and storage. Additionally, some IRA custodians charge an annual flat rate while others charge a specific percentage of your total assets.
  • Most IRA companies need you to have a minimum amount in your account before investing your precious metals. Generally, the amount ranges from between $10,000 to $50,000. 
  • You should not withdraw from your IRA account before turning 59½ since failure to oblige brings additional penalties and taxes.

Can you hold physical silver bars in your IRA?

Yes, though not personally. It would help if you stored the silver bars in an IRS-approved depository. First, you open a self-directed IRA account through a trustworthy custodian.

Next, fund your IRA with the required minimum purchase order, then buy the silver bars through your chosen custodian. The custodian company arranges to store your silver bars in a depository.

Conclusion

Buying silver bars is one of the cost-effective ways of stabilizing and diversifying your investment portfolio. World-renowned mints manufacture the above silver bars; this is enough approval of their quality and reliability. Don't worry about storage since all these bars are IRA-approved, and you can store them in IRS-approved depositories to ensure the total safety of your investment.

Jerry Garnes

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About the Author

Jerry Garnes is a seasoned writer in personal finance. His informative and insightful pieces have been featured by esteemed platforms like Bankrate, The Street, and Business Insider. In addition to his financial expertise, Jerry is a passionate poet and musician with a deep love for nature.

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