Summit Bullion
Prices are fetched automatically and may not reflect current merchant prices. Currency conversions and tax treatment are approximate. Rankings are based solely on price. We are not a dealer and accept no responsibility for transactions with listed merchants. Past performance is not indicative of future results. This site does not provide investment advice. Full disclaimer
1 oz Silver Bar: frequently asked questions
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The cheapest 1 oz silver bar tracked across 27 dealers on this page is $62.09 from Summit Bullion. Prices move with the silver spot price throughout the day, so the live figure above is the most up-to-date reference.
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The lowest premium currently available on this page is around 0.2% below the $62.20 silver spot price. Small silver bars typically carry a modest premium over spot. Buying larger quantities or bigger bar sizes generally reduces the per-ounce premium.
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A standard 1 oz silver bar weighs 31.1035 grams and is .999 fine silver, meaning 99.9% pure metal. Generic bars carry no face value and are not legal tender. They are investment-grade bullion and trade close to the silver spot price, making them a straightforward way to hold physical silver.
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Tax treatment varies by country. In the UK, silver bullion bars attract 20% VAT on purchase, and capital gains on disposal are subject to CGT at 18% or 24% above the annual £3,000 allowance. In Canada, investment silver bars are GST/HST-exempt at 0% and 50% of any gain is included in taxable income. Rules differ in other markets. Always consult a tax adviser for your specific situation.