1 oz OPM Metals Silver Bar

From America's Largest Good Delivery Refiner

The 1 oz OPM Metals silver bar comes from Ohio Precious Metals, founded in 1974 in Jackson, Ohio. OPM was the largest Good Delivery refinery in the United States following its expansion in 2003, and one of few private American refineries operating a full-scale refining operation solely within the country. The refinery achieved LBMA Good Delivery accreditation in 2013, placing it alongside the major Swiss and international refiners for institutional trust and global market acceptance.

At 999 fine silver, the bar meets investment-grade purity standards. OPM's LBMA accreditation is the critical differentiator from other American private mints: it means these bars are recognised by institutional buyers worldwide and carry full dealer network liquidity for buyback. This positions the OPM bar clearly above generic private-mint products and alongside Swiss refiner bars in terms of market acceptance and resale confidence.

In July 2015, OPM rebranded to Elemetal Mint following a merger with NTR Metals. This means OPM-branded bars are no longer in production; all bars carrying the OPM name predate mid-2015. The finite supply of OPM-branded products means they circulate exclusively on the secondary market. For investment purposes, the LBMA accreditation (which was held by the refinery itself, not just the brand) ensures that OPM bars retain their institutional acceptance regardless of the corporate rebrand. Any dealer who accepts LBMA-accredited silver will buy back an OPM bar at standard LBMA refiner pricing rather than at generic melt value.

OPM Metals 1 oz Silver Bar Specifications

The bar carries the OPM Metals hallmark, weight, and purity stampings. The key distinction between OPM and other American private mints is that OPM was a refiner, not merely a mint. The facility processed raw precious metals material into finished bullion through a full refining operation, rather than simply striking pre-refined blanks sourced from upstream. This refining capability is what qualified OPM for LBMA Good Delivery accreditation, giving its hallmark the same institutional weight as Metalor, Heraeus, or PAMP.

OPM's LBMA accreditation covered production from 2013 until the 2015 Elemetal rebrand. Bars produced before the 2013 accreditation still carry the OPM name and 999 purity guarantee from the refinery but predate the formal LBMA accreditation. In practice, most dealers treat all OPM-branded bars equivalently for buyback purposes, as the refinery's processes did not change at the point of accreditation. The OPM brand is well-recognised across the North American dealer network.

Tax Position for OPM Silver Bars

OPM silver bars benefit from the refinery's LBMA accreditation for tax purposes, particularly in jurisdictions where qualifying for investment-grade exemptions depends on refiner status. This is the primary advantage over products from unaccredited private mints.

• United States: State sales tax varies; approximately 35 states fully exempt bullion products. IRA-eligible: 999 fine silver from an LBMA-accredited refiner meets IRS Section 408(m) requirements. OPM's accredited status strengthens custodian acceptance significantly compared to unaccredited private mints, making it one of the more straightforward American-made silver bar choices for retirement accounts.
• United Kingdom: 20% VAT on purchase. No CGT exemption. OPM bars are not commonly stocked by UK dealers but the LBMA accreditation ensures acceptance at standard silver bar buyback pricing through any LBMA-connected dealer. Annual CGT allowance (£3,000) applies to gains.
• Canada: GST/HST exempt at 99.9%+ purity. Accreditation status provides additional confidence but is not a requirement for the purity-based exemption.
• Australia: GST-free as investment-grade silver at 99.9%+ purity from an LBMA-accredited refiner. The accreditation strengthens qualification certainty.
• New Zealand: GST-exempt for silver at 99.9%+ purity in bar form.
• Singapore: GST-exempt under the IPM scheme. The LBMA accreditation from the refinery supports qualification under the Investment Precious Metals framework.
• Hong Kong: No sales tax, no duties, no CGT. No qualification requirements.
• European Union: Full national VAT rate applies (17-27%). The margin scheme (Differenzbesteuerung in Germany, margeregeling in the Netherlands) may apply to secondary-market silver bars, potentially reducing effective VAT on pre-owned OPM bars.

OPM vs Other LBMA-Accredited 1 oz Silver Bars

OPM bars compete in the LBMA-accredited refiner tier, which includes Swiss producers and a handful of other internationally recognised facilities. The key comparison is against bars that offer the same institutional trust and global liquidity through the London Bullion Market Association network.

Against Metalor silver bars, OPM offers the same LBMA credential from an American rather than Swiss refinery. Metalor has stronger brand recognition internationally (on the London Good Delivery List since 1934 vs OPM's 2013 accreditation) and more advanced authentication technology (BullionProtect smartphone-scannable ink). OPM bars are typically priced at a slight discount to Metalor on the secondary market, making them a value proposition within the LBMA-accredited tier.

Compared to PAMP Suisse bars, OPM is significantly less expensive. PAMP commands the highest premiums among LBMA refiners due to brand recognition, the Lady Fortuna design, and Veriscan authentication technology. OPM bars offer the same institutional LBMA acceptance at a lower entry cost, making them a value proposition for buyers who prioritise the accreditation over brand aesthetics and design appeal.

Against the Royal Canadian Mint Maple Leaf bar, OPM gives up government-mint status and 9999 purity but matches LBMA-level institutional trust. The RCM bar's higher purity provides marginal advantages for certain purity-threshold tax exemptions and may be preferred by IRA custodians who specifically require government-mint products. OPM's advantage is lower pricing on the secondary market combined with proven LBMA accreditation.