One troy ounce silver bars are among the most widely-produced silver bars. The one-ounce size is easily purchased, sold, stacked, and stored. Made by most mints, they are easily purchased through most silver dealers. The smallest regularly-produced silver bars, they are popular among both new and seasoned investors alike.
These relatively small silver bars are among the most affordable ways to invest in silver. They are particularly popular among new investors, as a more accessible way to begin investing in silver.
On the other hand, they tend to have some of the highest per-ounce prices. Fabrication costs are relatively stable, whether the mint is producing a one-ounce or 100-ounce silver bar. As a result, the per-ounce costs for a 1 oz silver bar tend to be higher over the spot price of the silver. Typical 1 oz silver bars tend to sell for around 10% or $2-3 over the spot price of silver.
1 oz silver bars are also popular because of their divisibility. A collection of 1 oz silver bars may be bought or sold a single ounce at a time. Many investors purchase an ounce of silver once a month or with every paycheck, building up their investment over time. Others opt for the one-ounce size because they plan to sell a portion of their investment in the future.
In addition to being purchased for investment purposes, one-ounce silver bars are also a popular gift for birthdays and other occasions. Their small size makes them a fairly affordable gift.
Mints and Dealers
1 oz silver bars are produced by most silver mints. Some of the most popular mints producing this size include Johnson Matthey, Royal Canadian Mint, Sunshine Minting, and Engelhard. They are carried by nearly all silver dealers and coin shops, both locally and online, which makes it easy to find 1 oz silver bars made by your preferred mint.
Each one-ounce silver bar weighs one troy ounce. They tend to be about the same size and shape, a rectangular bar measuring approximately 50mm by 28mm (or 1 1/8” by 2”) by 2.7mm. Measurements vary slightly from mint to mint, though most silver bars fall within 1mm of these measurements. Some special-edition bars carry a different size or shape. Many investors find that one-ounce silver bars are smaller than they had imagined. One-ounce bars are, in fact, the smallest commonly-produced silver bar.
Because one-ounce silver bars are small in size, they are easily stored. However, investors who plan to purchase a significant amount of silver may find it easier to store a couple of larger bars rather than many small one-ounce bars. Many investors begin by buying one-ounce silver bars, later trading them in for larger sizes for easier storage.
Many mints package their 1 oz silver bars into flexible plastic sheeting. This sheet protects the silver bars from wear due to handling. Each sheet holds up to ten or twenty bars, but can be cut apart, enabling the bars to be stored or sold individually.