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About the 5 oz Silver Bullets Silver Bar
SilverTowne's 5 oz 12-Gauge Shotgun Shell in .999 Silver
The 5 oz Silver Bullet from SilverTowne is a life-sized replica of a 12-gauge shotgun shell, cast entirely from .999 fine silver. It belongs to SilverTowne's Silver Bullets range, which maps common ammunition calibers to standard bullion weights: the .45 ACP at 1 oz, the .308 Winchester at 2 oz, this 12-gauge at 5 oz, and the .50 BMG at 10 oz.
SilverTowne Mint, based in Winchester, Indiana, was founded in 1949 by Leon Hendrickson and began minting its own products in the early 1970s. It is one of the oldest continuously operating private mints in the United States. The Silver Bullets represent the most distinctive products in their catalog, designed to appeal to the significant overlap between the precious metals and firearms communities in the US market.
The 12-gauge shotgun shell shape at 5 oz is the most visually distinctive piece in the range. Unlike the rifle-cartridge shapes of the .45 and .308, the 12-gauge replicates the shorter, wider profile of a shotgun cartridge. These are completely inert, non-functional replicas that cannot be chambered or fired. No firearms licensing is required to purchase or possess them. The SilverTowne pickaxe logo, weight, and purity are stamped on the base (primer area) of each piece.
Demand for the bullets frequently exceeds supply due to the manufacturing complexity of the three-dimensional shape compared to flat rounds or bars. The 12-gauge is popular as a display piece and gift item among firearms enthusiasts, carrying a premium above standard 5 oz silver bars that reflects both the novelty factor and the more complex production process.
12-Gauge Silver Shotgun Shell Specifications
| Attribute | Value |
|---|---|
| Weight | 5 troy oz (155.52 g) |
| Purity | .999 fine silver |
| Height | 56.18 mm (2.21 inches) |
| Width (base) | 20.45 mm (0.806 inches) |
| Modelled after | 12-gauge shotgun shell |
| Manufacturer | SilverTowne Mint, Winchester, Indiana |
| Mint mark | SilverTowne pickaxe (on base) |
| Legal tender | No |
| Face value | None |
The Full Silver Bullets Range
| Caliber | Weight | Notes |
|---|---|---|
| .45 ACP | 1 troy oz | Most popular size |
| .308 Winchester | 2 troy oz | Rifle cartridge proportions |
| 12 Gauge | 5 troy oz | Short, wide shotgun shell profile |
| .50 BMG | 10 troy oz | Largest in range, 128.5 mm tall |
Gold and rhodium plated variants of the 12-gauge have been produced in limited runs, featuring a realistic two-tone appearance with a gold-coloured shell body and rhodium-plated metal base.
Tax Position for the SilverTowne Silver Bullet
The Silver Bullets are private mint novelty products with no legal tender status. Their unusual shape means some jurisdictions and IRA custodians may classify them differently from standard bars or rounds.
- United States: Generally not IRA-eligible. The novelty shape means some custodians classify these as collectible silver rather than standard bullion. Sales tax treatment varies by state; most states that exempt bullion base eligibility on purity (.999) and form (bar, coin, round), and a bullet-shaped piece may not fit these definitions in all states. Capital gains taxed at up to 28% (collectibles rate).
- United Kingdom: Subject to 20% VAT on silver. Import of ammunition-shaped objects may attract customs scrutiny, though these are clearly marked as solid silver bullion products.
- Canada: GST/HST treatment may depend on whether the product qualifies as a "bar, ingot, coin, or wafer" under the investment precious metals definition. The novelty shape could exclude it in strict interpretations.
- Australia: GST treatment depends on whether customs classifies the product as investment-grade silver in bar form or as a novelty item. The non-standard shape creates ambiguity.
- European Union: Subject to full VAT at local rates. Import of realistic ammunition-shaped objects may require additional customs documentation in some member states.