Why Choosing the Right Silver Bar Matters More Than Ever
Silver is in demand like never before. Industrial use keeps rising, supply has been in deficit for years, and silver prices have hit multi-year highs. But even with all this, premiums on silver bars are currently low. That makes today an unusual time — and a good opportunity — to buy physical silver.
If you’ve decided silver should be part of your portfolio, the next step is simple: work out what type of silver bar to buy. In this guide we’ll look at the different options, from bar sizes and premiums to brands and storage, so you can decide which bars are best for you.
You’ll also see why the current mix of tight global supply and temporary selling pressure could mean this is one of the best times in years to add silver bars to your holdings.
Table of Contents
- Why Choosing the Right Silver Bar Matters More Than Ever
- Why Buy Silver Bars?
- Cast Bars vs Minted Silver Bars
- Silver Bar Sizes and Premiums: Flexibility vs Cost Efficiency
- Brand Considerations & Authentication
- No GST on Silver Over 99.9% Pure (NZ Buyers Only)
- Supply Deficits & Structural Shortages — The Context
- Frequently Asked Questions About Silver Bars
- Final Thoughts on Choosing Which Type of Silver Bar
Estimated reading time: 9 minutes
Why Buy Silver Bars?
There are many reasons to buy silver. A key factor to choose silver bars over coins is that they usually cost less per ounce than coins. They’re also easier and cheaper to store if you’re buying in bulk. That makes them the most cost-effective way to build a larger silver position.
Coins can still be useful for small transactions or as financial insurance. Many investors choose to hold both.For a full comparison, see our guide: Buy Gold and Silver Coins vs Bars in NZ
Cast Bars vs Minted Silver Bars
What is a Cast (Poured) Bar?
A cast bar (also called a poured bar or ingot) is made by melting silver and pouring it into a mould. It will have the refiner’s hallmark, weight, and purity stamped into it. Cast bars often look rougher and less polished. But they are cheaper to make and usually sell for a lower premium over the silver spot price.
What is a Silver Minted Bar?
A minted bar is made in a similar way to a coin. After casting, the bar is struck by a machine to give it a clean, detailed design. This extra step makes minted bars more expensive than cast bars of the same size.
Most minted bars are small, such as 1 oz or 10 oz sizes. Because of this, they usually carry higher premiums. That’s why many investors prefer coins instead of 1 oz minted bars — coins are often the same price or even cheaper.
Which Type of Bar Should You Choose?
- Cast bars give you more silver for your money and are easy to resell, especially in popular sizes like 1kg or 100oz.
- Minted bars appeal more to buyers who want a premium finish or prefer smaller sizes.
In today’s market, where premiums are low and availability is good, cast bars often make the most sense if your goal is to stack silver at the lowest cost per ounce.
Silver Bar Sizes and Premiums: Flexibility vs Cost Efficiency
Large Silver Bars — Lowest Premiums, Less Flexible
The rule of thumb is simple: the bigger the bar, the lower the premium you’ll pay above the silver spot price. A 1000oz bar will almost always give you the cheapest silver per ounce. That’s because it takes about the same amount of work to pour a large bar as it does a small one.
But bigger isn’t always better. Large bars can be hard to sell. You can’t split a 1000oz bar into smaller pieces if you only want to cash in part of your holding. Buyers for very large bars are also limited — often just refiners. And when you do sell, you may need to pay for an assay to confirm the purity.
Small Silver Bars — Higher Premiums, More Liquidity
Smaller bars, like 5oz or 10oz, are the most flexible. They’re easy to sell in parts, and there’s always a wide pool of buyers. The trade-off is usually higher premiums.
The 1kg Bar — The Most Popular Size
Mid-range sizes such as 1kg or 100oz often hit the sweet spot. They give you good value per ounce, but still keep your silver stack divisible and liquid. In fact, the 1kg bar is the most common size we sell, because it balances cost and flexibility.
What about premiums today?
Right now, premiums are actually low across most bar sizes. Many investors have sold into record silver prices, increasing retail supply. That means even smaller bars — which normally carry higher mark-ups — are closer to spot than usual. For buyers, this is a rare chance to pick up divisible bars at better value.
Brand Considerations & Authentication
Global Refiners (PAMP, Perth Mint, Engelhard, etc.)
There are dozens of silver bar brands on the market. Some of the best-known globally include PAMP, Johnson Matthey, Engelhard, Metalor, Perth Mint, and the Royal Canadian Mint.
Local Options in New Zealand (ABC Bullion, Scottsdale Mint)
Here in New Zealand, NZ Refined, ABC Bullion and Scottsdale Mint are also popular choices.
The benefit of buying from these recognised refiners is simple: their bars are trusted worldwide. That makes them easier to resell, both locally and offshore.
Serial Numbers and Certificates
Some bars — like the 1kg ABC Bullion Cast Bar — also come with a unique serial number and a certificate. These can help with authentication and resale, though you may pay a small premium for the extra security.
Counterfeiting is rare but it does happen, especially when silver demand spikes. That’s why it pays to buy only from established dealers with a strong reputation. Here in New Zealand, we’ve seen premiums drop recently because of increased selling, which makes it even more important to source from dealers who guarantee the authenticity of every bar.
No GST on Silver Over 99.9% Pure (NZ Buyers Only)
In New Zealand, silver bars and coins that are less than 99.9% pure attract GST.
This usually isn’t an issue when buying silver bars, as almost all are 999 or 99.9% fine. Still, it’s worth knowing if you’re comparing products.For more detail, see our full guide: GST on Gold and Silver Bullion.
Supply Deficits & Structural Shortages — The Context
Seven Years of Silver Supply Deficits
Silver has been in a supply deficit for seven years running. Global mine production has struggled to keep up, while industrial demand keeps growing — especially from solar panels, electric vehicles, and electronics. That means the long-term outlook for silver remains tight.
Why Premiums Are Low Despite Record Prices
Normally, you’d expect this kind of structural shortage to push premiums on bars and coins higher. But right now, the opposite is happening. With silver at record highs, many investors have taken profits and sold their holdings. That extra supply has flowed back into the retail market, keeping premiums lower than usual.
Here in New Zealand — and even among US suppliers we work with — we’re seeing the same thing: premiums on bars and coins are unusually low, despite the headlines about shortages. This disconnect is likely short-lived.
Why Now Could Be a Smart Time to Buy Silver Bars
Despite record spot prices:
- You can buy physical silver closer to spot price even though global inventories are falling.
- Smaller bars, which normally carry the highest mark-ups, are much better value than usual.
- Unlike paper silver or ETFs, owning physical bars gives you no counterparty risk — just pure metal in your possession.
For smart buyers, this is a rare window: you’re able to buy into a structurally bullish market while premiums are low. That’s not an opportunity that comes around often.
Frequently Asked Questions About Silver Bars
The best type depends on your goals. If you want the lowest cost per ounce, go for larger bars like 1kg or 100oz. If you want flexibility and easy resale, smaller bars like 5oz or 10oz are better. Many investors choose a mix of both.
Large bars are cheaper per ounce, while small bars are easier to sell. A balance of both gives you value and liquidity.
Yes, the global silver market has been in a supply deficit for several years. But right now, premiums on bars are low because many investors have sold into high prices, making this a rare buying opportunity.
Because many investors have been selling at record prices, retail supply has increased. That extra supply has kept premiums lower than usual, even as global inventories tighten.
Bars are usually cheaper per ounce and easier to store. Coins are handy for smaller transactions or as a form of financial insurance. Many investors hold some of each.
Cast bars are poured into moulds and usually sell for lower premiums. Minted bars are struck like coins and look more polished but cost more.
Globally recognised refiners include PAMP, Johnson Matthey, Engelhard, Metalor, Perth Mint, and the Royal Canadian Mint. In New Zealand, ABC Bullion and Scottsdale Mint are also popular. Bars from these refiners are trusted and easier to sell globally.
Final Thoughts on Choosing Which Type of Silver Bar
There’s no single “best” silver bar for everyone. It depends on your budget and goals. Larger bars, like 1kg or 100oz, usually give you the lowest cost per ounce. Smaller bars, like 5oz or 10oz, are easier to sell in parts and add flexibility to your stack. A mix of both often works best.
Our preference is to hold a selection. Get some bigger bars for the best pricing, then add smaller bars for divisibility and resale. That way you cover both bases — value and liquidity.
What makes this decision even more important now is the market backdrop. Silver has been in a supply deficit for years, but premiums are currently low because many investors have sold into record prices. Here in New Zealand, and among US suppliers too, that means buyers can currently pick up silver bars closer to spot price. This is a rare chance to add physical silver while it’s very good value.
Whatever you choose, stick to well-known brands and trusted refiners. That way your bars will be recognised, liquid, and easy to sell when the time comes.
Check out the full range of silver bars available here: Buy silver bars
Editors Note: This article was first published on 26 June 2018. Updated 23 November 2022 to include new links to various products and updated price comparisons. Fully updated 8 September 2025.
Pingback: NZ Gold Coins (and Silver Coins) or NZ Gold Bars (and Silver Bars): Which Should I Buy?
Does the brand/age of the bar make a difference in price?
Good question Michael. The brand can definitely affect the price that a bar sells for. Better known refiners/mints might retail for a little more sometimes. The age doesn’t usually make too much difference. Although if you buy a bar from what is called the “secondary market” which simply means a second hand bar that a dealer/refiner has bought back from an individual, then you will often pay less for this bar than if you bought a newly minted/poured bar. Here in New Zealand there is usually not too much difference in what you will receive back when the times comes to sell though.
Pingback: Silver Bouncing Off $26 Again - Gold Survival Guide
Pingback: Discussions of QE in Australia Increasing - How About NZ? - Gold Survival Guide
Pingback: The 2019 Top 5: Our Most Read Articles of 2019 - Gold Survival Guide
Are the pamp 10 gram bars a bad thing to buy?
Bought the snake, rooster, goat, monkey, rat, and dog
Why should or shouldn’t they be bought
Bought some for my son so just wondering
Ty
Hi Melissa, Nothing actually wrong with those bars. They look really nice. However they are a more expensive way to buy silver. 10grams is very small – about 1/3 of an ounce. So you are likely paying a much higher premium over the silver spot price than say a 1kg bar. But they do make for great gifts. They are more likely seen as a collectible. However it is anyones guess whether they will be worth more in the future than the same weight bar without a fancy design on it.
Pingback: CoronaVirus Spreads Into Italy - Sharemarkets Plunge - Gold Survival Guide
Pingback: Huh? Central Banks Fighting the Virus. While the World Health Organisation Talks Up the Markets! - Gold Survival Guide
I want to buy 10oz silver bars. But I don’t know which ones are best. Can you help?
It’s hard to say there is a “best” bar. Generally we think the best bar is the lowest price above spot you can find for a well recognised bar that is easy to sell later. This might depend upon where in the world you are when the time comes to sell. As some brands may be better recognised in different locations. But generally the lower premium means you are betting more silver for your money.
Send me i want to buy
Are Johnson Matthey poured bars worth collecting? They have imperfections all over the bar, do these vintage bars do better in the resale market than unblemished bars from Perth, Canadian or Nadir refineries?
Hi James, Here in New Zealand they won’t generally be worth any more than any other silver bar of the same size and purity. They are of course well known around the world. I’m not aware of them being worth anymore anywhere else in the world either though.
Pingback: Gold Open Interest Lowest in 5 Years - So What? - Gold Survival Guide
In nz what is best to buy in gold for investment. Where do you keep gold for safety. I would be thinking of ounce coins rather than bars. Open to options
In nz what is best to buy in gold for investment. Where do you keep gold for safety.
Hi Colin, 1oz gold bars are the best value. But if preferring coins then gold maples are a good bet. There are various storage options including private vaults. Will message you directly to see where you are located.
Is it worth to buy Gold now since the price is so high?
Thanks for your question Marguerite,
The price of gold is high compared to what it has been. But in my opinion it is likely headed much higher, as it is merely the inverse of all the fiat (paper/digital) currency that has been and is still being created.
See this article of ours for historical comparisons and projections as to what the gold price might reach based upon various measures: https://goldsurvivalguide.co.nz/how-do-you-value-gold-what-price-could-it-reach/
I also just saw a very good quote on this topic today:
“Those who think they missed out on gold ar emission the point.If a ship goes down, those who paid more for the lifeboat aren’t any less happy than those who paid less” — Simon Mikhailovich