Canadian Silver Bars Overview
If you are in the market for precious metals, silver bars can provide an extremely cost-effective way to begin building a significant portfolio. Silver bars carry some of the lowest overall premiums of any precious metals product, and are very liquid. They can be purchased from coin shops as well as from mints and online dealers. Canada produces some of the finest gold and silver products anywhere in the world, and Canadian silver bars are no exception.
The Royal Canadian Mint is one of the most well-respected mints in the entire world. The RCM produces an extensive line of bullion coins, collectible coins as well as different types of bars. The RCM was founded on January 2, 1908. In 1931, the mint’s ownership passed completely into Canadian hands. One of the mint’s most interesting accomplishments is the production of the world’s largest gold coin in 2007. This astounding gold bullion $1 million coin weighed 100 kilograms, with a purity of 99.999 percent.
The Royal Canadian Mint produces some of the finest coin and bar designs available, and if often pays tribute through its designs to Canada’s landscape, wildlife and scenic beauty.
The RCM produces a popular 10 ounce silver bar for those looking to acquire more total ounces of silver. This silver bar features the RCM logo, as well as inscriptions of the bar’s weight, purity and individual serial number. These bars have a sleek, yet elegant look to them, and with a purity of .9999 percent, they represent some of the finest silver bars on the market today. The RCM produces a number of mid-sized bars from 100 troy ounces to 1000 troy ounce London “good delivery” bars.
One of the nicest things about Canadian silver bars is the number of different weights, shapes and sizes they come in. These bars feature exquisite designs and make an excellent addition to any portfolio or collection. If you are looking to get as many total ounces as possible, then silver bars may be a great choice. These bars are relatively more affordable than gold bars and can often be found for very small premiums over spot. Larger Canadian silver bars can potentially offer an even greater cost-savings. This is because production costs for a one ounce bar and a 10 ounce bar are relatively similar, but obviously the larger weight bar delivers more actual silver. For larger investors, 100 ounce bars or even 1000 ounce bars may be the weight of choice.
Canadian silver bars are easily transported and stackable. They can be conveniently stored in a home safe, a bank safe deposit box or in the depository of your choice. Canadian silver bars can provide an excellent value, and prices could potentially rise over the years and more and more industrial uses for the white metal are put into action.
Certain Canadian silver bars may be eligible for purchase in an IRA account. Of course, you should consult your tax professional prior to purchasing for an IRA to determine eligibility and to make sure proper guidelines are followed.