Silver bars, one of the most popular precious metal investment products on the market, are available in two production options, but you have several manufacturers to choose from when shopping around. You can shop around with official government Mint producers, or you can opt to purchase hand poured silver through a private manufacturer. If you’re looking for a bargain, you can usually find one by purchasing the bar through a reputable silver dealer.
There are many well-respected, reliable private manufacturers in the business of selling 2 oz silver bars. If you’re new to the realm of silver, you’ll want to carefully do your research before making that first purchase. A few manufacturers you can trust to purchase silver bars through include: Monarch Precious Metals, Atlantis Mint, Prospector’s Gold & Gems, Johnson Matthey, Bison Bullion, Silvertowne, Sunshine Mining, APMEX, and more.
When purchasing two ounce silver through any one of these manufacturers, your piece or pieces of silver will include a stamp of the company’s official log for authenticity purposes. Additionally, the packaging will include proof of authenticity as well. In addition to purchasing 2 oz silver bars, they’re also purchasable at many major banks right over the counter.
Types of Designs on the 2 Troy oz. Silver Bars
Each manufacturer includes several design concepts. Some feature shapes like skulls, skull and bones, badges, weapons, gravestones, soap bars, bread loafs, animal heads while others, especially minted silver bars, feature intricately fancy artsy design work on the background of a polished, shiny minted bar.
Some of these fancy bars feature face values. Silver bars available in various shapes are hand poured. The 2 oz silver bars, whether they’ve been hand poured into a peculiar shape mold, or a simple rectangular mold, always feature the troy ounces of the silver and it’s purity along with the manufactures engraved logo for authenticity.
While there are pros and cons to investing in silver coins versus silver bars, some of the best returns are associated with silver bars. This is because silver bars are purchased at a lower premium compared to silver coins, especially the hand poured bars. This is because silver coinage and minted silver bars require a capital-intensive production process, particularly proof coins.
The longer the production process, and the more extensive the production process, the higher you can expect the premium of the silver. Because the private manufacturer specializing in hand pouring has less expenditure to cover, it can afford to offer bars at a lower premium. This then makes the lower premium worth investing in. Another thing to consider with this type of investment is that the smaller bars are easier to store, because they’re stackable.
Also, do your research on spot prices. The silver market is highly-volatile and is subject to change daily. When dealers set their price, they consider the spot price and then add on their dealer fees. This is why it’s important to purchase through reputable, honest silver dealers.
Storing 2 oz Silver Bars
As with investing in silver bars, you have a few options when it comes to the storing your 2 troy ounce silver. Your storage options include securely storing your silver, other precious metals, or anything of value, inside of a quality safe tucked away in a secret location within the home. When opting to store precious metals within the home, be careful who you share this information with.
Again, secretive is the key. Safes are a smart option, because they’re difficult to pry open and nearly impossible to take from a home. They also keep your valuables safe from fire and natural disasters. If you’re thinking about storing your precious metals in a safe deposit box at the bank, consider this—many investors consider this option “dangerous” because safe deposit boxes are not FDIC insured.
And finally, an additional option includes precious metals depositories. These facilities were specifically designed to keep precious metals secure, safe, and in the condition it arrives in. These facilities are also spacious, which is ideal when storing larger pieces of silver. They’re also climate controlled. It’s best to come up with a storage plan prior to beginning your collection, or investments.