Silver Bar - 1000 oz
The silver 1000 troy ounce bar is a popular choice for investors because it’s a manageable weight but big enough to have a lower premium than smaller silver bars. The silver bar – 1000 oz weighs just over 3kg and contains 3107.2 grams of pure silver if the bar is .999 fine. A .9999 silver bar contains 3110.0 grams of pure silver.
Silver bars are made in three different ways. Bars have a high quality polished finish if they have been manufactured from larger silver sheets and then pressed and stamped by a minting process.
A cast bar is produced by pouring molten silver into a mold or die which then cools. The assay mark and description are then impressed into the front of the bar. These bars have a traditional bar look to them.
An extruded silver bar is made by heating silver metal and forcing it through a rectangular space. This creates a uniform length of bar which is then cut and stamped with an assay mark.
Many of the silver refineries that produce the industry standard 1000oz silver bars do not manufacture 100oz silver bars. In addition, some refiners used to make 100oz but no longer do so. Therefore, a 100oz bar will have been produced by one of a short list of refiners.
Marketsforu selects its 100oz bars carefully from a handful of prestigious and highly regarded silver refiners. All those refiners are accredited by the London Bullion Market Association, which is the industry body that regulates production standards for 1000oz silver bars.
The London Bullion Market Association (LBMA), headquartered in the City of London, is an international industry association for gold and silver bullion. One of its primary functions is the maintenance of the Good Delivery List (GDL) for both gold and silver.
The GDL is a set of refining standards that refiners must meet and uphold in order for their good delivery bars to be accredited by the LBMA. Good delivery bar specifications only cover large bars. For silver, this is known as the ‘1000oz silver bar’.
The LBMA does not maintain a list of refiners who produce 100 oz silver bars, nor does it regulate 100oz silver bar production. However, some refiners who are accredited refiners for Good Delivery silver bars and have membership of the LBMA’s Good Delivery List for silver also produce 100 oz silver bars.
Therefore, in selecting a 100oz silver bar for investment, it is prudent to invest in a bar that has been produced by a refiner who is on the LBMA’s Good Delivery List. These refiners are recognised and trusted in the market. This is why Marketsforu only sources 100oz bars from such refiners.