Every silver bar has significant value, whether it is poured or minted, designed or plain, old or new, scratched or shiny. But the value could be higher if it meets certain criteria. Let’s take a look at four areas that affect the price of a silver bar.
Weigh a Silver Bar to Discover Much of a Silver Bar’s Value
Although it’s not always the rule, most of the value of a silver bar is found directly in its silver content.
Silver bars can be as small as one gram in weight and as large as one kilogram – and more. Most silver bars produced in these modern times are 99.9% fine silver, so to determine the approximate value you would simply need to visit the Royal Bull Precious Metals Prices chart here and do some simple math to have a general idea of the value of your fine silver.
When you visit the prices chart, select the ‘Silver’ tab to see the current price of a troy ounce of silver in Canadian dollars. If the silver bar in question has a weight of one troy ounce, the value of the bar is equal to the price you see. Keep in mind that the current spot price doesn’t take into account the retailer’s costs, so rarely would you ever find a gold bar for sale at a spot price. Many are slightly more expensive to recoup these business costs.
But this doesn’t take into account the many other ways that the value of a silver bar can be much, much higher.
The Age of Your Silver Bar Can Increase Its Value
Although 99.9% pure silver today is the same as 99.9% pure silver 1,000 years ago, there is value built up in the uniqueness, rarity and historic nature of a bar that was minted a long time ago.
If you are unsure of your silver bar’s age, take time to speak with professionals. Insight into the age of your silver bar could reap financial rewards beyond your wildest imagination.
The Condition of Your Silver Bar Can Increase Its value
You can do a visual inspection to see if the silver bar is worn, has scratch marks or is damaged in any way. Noticeable imperfections could devalue the bar more than it could otherwise be worth. That’s why it is incredibly important to care for your silver bar – keep it sealed in assay packaging if possible, use gloves when handling and never use cleaners or polishing agents.
Ask the Mint to Inform You About the Gold Bar’s Value
Some mints have technology that can tell you about your silver bar’s production date using the serial number on your silver. Unfortunately, this information is not readily available for most silver bars, and mints are just beginning to understand the value of providing this information to customers.
That being said, mints can still provide insightful information on a silver bar. Simply email the mint and ask – you may be surprised by what you will discover that will add value to your investment.
So, What is the value of Your Silver Bar?
Good question. It really depends on your silver bar’s weight, its condition, its age and much more.
Take all of this into account, and see some other silver bars currently for sale on Royal Bull’s silver bar shopping page. Read about each bar’s history, where it was made, by whom, and how much they weigh. Compare the prices to better understand your investment.
Whether you are buying or selling, reach out to Royal Bull to learn more about silver bar investments and how you can get the most silver for your dollar.
