100 oz Asahi Refining Silver Bar

The Asahi Refining 100 oz Silver Bar

The 100 oz Asahi Refining silver bar is a .999 fine silver product from one of the world's largest precious metals refiners. Asahi acquired Johnson Matthey's gold and silver refining operations in 2015, inheriting the infrastructure, LBMA Good Delivery accreditation, and market position of a refiner that had been producing bars since the 19th century. The Asahi 100 oz bar is, in practical terms, the direct successor to the Johnson Matthey 100 oz bar that was a staple of the North American silver market for decades.

For buyers choosing a 100 oz silver bar, the Asahi product competes on brand credibility and refining pedigree. Its LBMA accreditation places it alongside the Royal Canadian Mint, PAMP Suisse, and Sunshine Minting products in the top tier of recognised 100 oz bars. Bars from LBMA-accredited refiners consistently command tighter buyback spreads from dealers, which matters at the $3,300+ price point of a 100 oz bar.

Asahi Refining is headquartered in Japan (the parent company, Asahi Holdings, is based in Kobe) but operates refining facilities in both Japan and North America. The company's North American operations, located in Salt Lake City, are the primary source for bars distributed through US and Canadian dealers. This dual presence gives Asahi bars recognition in both Asian and North American markets.

Asahi 100 oz Silver Bar Specifications

Each bar carries the Asahi Refining hallmark, stated weight, purity, and a unique serial number. The serialisation provides chain-of-custody traceability, which is particularly relevant at this bar size where authentication is a standard part of secondary-market transactions. The dimensions vary slightly between cast and minted bars, with cast bars having a rougher surface profile and minted bars showing clean, consistent edges.

The .999 purity meets the minimum fineness requirements for tax-exempt treatment in Canada (99.9%+), Australia (99.9%+), New Zealand (99.9%+), and Singapore (99.9%+). It also meets the IRS requirement for precious metals IRA eligibility (silver must be 99.9%+), though specific custodian approval may be required. The LBMA Good Delivery accreditation serves as an additional credential that most IRA custodians accept as verification of refining standards, simplifying the approval process compared to bars from non-accredited producers. Asahi operates refining facilities in both Japan and Salt Lake City, Utah. Bars distributed through North American dealers are primarily sourced from the US facility, while the Japanese operation serves Asian markets.

Tax Treatment of the Asahi 100 oz Silver Bar

As a .999 fine silver bar from an LBMA-accredited refiner, the Asahi 100 oz bar qualifies for tax-exempt purchase in several jurisdictions, but silver carries less favourable tax treatment than gold in most English-speaking countries.

• United States: No federal sales tax. State-level treatment varies; roughly 35 states exempt investment-grade silver bullion from sales tax. Where taxable, rates range from 4% to 10%+. The bar meets IRS fineness requirements for inclusion in a precious metals IRA (silver must be 99.9%+). Capital gains are taxed at the collectibles rate of up to 28% for long-term holdings.
• United Kingdom: Subject to 20% VAT on purchase, with no exemption for silver regardless of purity or refiner accreditation. Silver bars are also subject to Capital Gains Tax (CGT) on disposal at 18-24%, with no CGT exemption (unlike UK legal tender coins such as the Britannia). The combined VAT-on-entry and CGT-on-exit makes silver bars the least tax-efficient bullion option for UK buyers.
• Canada: Exempt from GST/HST as investment-grade silver (purity exceeds the 99.9% threshold). Gains are subject to capital gains tax at 50% inclusion rate.
• Australia: GST-free as investment-grade silver (meets the 99.9% purity threshold). Capital gains apply, with a 50% discount for holdings over 12 months.
• New Zealand: GST-exempt (meets the 99.9% purity requirement). No formal capital gains tax.
• Singapore: GST-exempt as Investment Precious Metal (IPM), meeting the 99.9% purity and form requirements. No capital gains tax.
• Hong Kong: No sales tax, import duty, or capital gains tax of any kind.
• South Africa: Subject to 15% VAT. No exemption for silver, even from LBMA-accredited refiners.

Asahi 100 oz vs Other 100 oz Silver Bars

The 100 oz silver bar market is dominated by a handful of LBMA-accredited refiners and government mints. The metal content is identical across all .999 products (100 troy ounces of fine silver), so the comparison rests on brand recognition, purity, security features, resale spreads, and availability.

The Royal Canadian Mint 100 oz bar is the strongest competitor. As a government mint product at .9999 fine, it carries sovereign backing and the highest available purity. RCM bars are serialised, widely stocked, and consistently command the tightest buyback spreads among 100 oz bars. The Asahi bar matches on LBMA accreditation and serialisation but concedes on purity (.999 vs .9999) and sovereign mint status.

The Johnson Matthey 100 oz bar is Asahi's direct predecessor. JM bars are no longer produced (the refining operations were sold to Asahi in 2015), and surviving bars trade at a slight collector premium driven by discontinued status and brand nostalgia. For buyers purchasing at current market prices, the Asahi bar offers the same refining pedigree at lower cost, since current-production bars do not carry the collector markup.

The PAMP Suisse 100 oz bar brings Swiss refining credentials and strong international recognition, particularly in European and Asian markets. PAMP and Asahi both hold LBMA accreditation and produce at .999 purity. The choice between them often comes down to regional availability and dealer pricing rather than any fundamental product difference.

The Sunshine Minting 100 oz bar adds the proprietary MintMark SI security feature, a small holographic marker verifiable with a decoder lens. This provides an additional authentication layer beyond serial numbers and physical measurements. Sunshine bars are widely available from US dealers at competitive premiums. The Asahi bar lacks an equivalent proprietary security feature but compensates with LBMA accreditation, which Sunshine does not hold.

The Engelhard 100 oz bar occupies a different market segment. Engelhard ceased retail production in the late 1980s, and surviving bars carry a significant collector premium. Engelhard 100 oz bars are also among the most counterfeited silver products, making authentication a particular concern. For buyers seeking a 100 oz bar purely for silver content at the lowest premium, current-production options like the Asahi bar are more cost-effective than paying the Engelhard collector markup.