Monument Metals
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About the 1 oz SilverTowne Buffalo Silver Bar
The Buffalo Design from America's Oldest Family-Run Mint
The 1 oz SilverTowne Buffalo silver bar reproduces James Earle Fraser's 1913 Buffalo Nickel design, one of the most recognisable coin designs in American history. SilverTowne, founded in 1949 by Leon Hendrickson in Winchester, Indiana, has been minting its own products since 1973 and remains one of the oldest continuously operating precious metals dealers in the United States.
The Buffalo bar is SilverTowne's most popular silver product. At .999 fine silver, it delivers the same metal content as any other 1 oz .999 bar, but with the provenance of a named manufacturer with over 75 years of history. The bar comes in several variants: dated (with year of production), undated (the most common, treated as interchangeable generic bullion), and a stackable rim version with thicker, flat edges designed to stack neatly without sliding.
SilverTowne's origin story is genuinely distinctive. Leon Hendrickson was a WWII veteran who ran a restaurant where he kept unusual coins in a cigar box. He began selling collectible coins to customers and eventually built that hobby into one of America's largest precious metals businesses, now family-run for over seven decades from a small town in Indiana with a population of roughly 4,500.
For buyers focused on low-premium silver, the Buffalo bar competes directly with generic rounds and bars from other private mints. The SilverTowne name provides a middle ground between the cheapest unbranded generics and higher-premium sovereign mint products, giving buyers a known manufacturer without the price of a government-backed coin. Tubes of 20 and monster boxes of 500 are available for bulk purchases.
SilverTowne Buffalo 1 oz Bar Specifications
| Attribute | Value |
|---|---|
| Weight | 1 troy ounce (31.1g) |
| Purity | .999 fine silver |
| Diameter | 39 mm |
| Thickness | 2.9 mm |
| Edge | Reeded |
| Condition | Brilliant Uncirculated |
| Manufacturer | SilverTowne (Winchester, Indiana) |
| Packaging | Individual plastic flips; tubes of 20; monster boxes of 500 |
Available Variants
| Variant | Notes |
|---|---|
| Dated | Year of production stamped. Some mild collectible interest for specific years. |
| Undated | No year marking. Most common version; treated as interchangeable bullion. |
| Stackable rim | Thicker, flat rim for neat stacking. Same weight and purity. |
Design Details
The obverse features Fraser's Native American portrait, originally a composite of three sitters: Iron Tail (Oglala Lakota), Two Moons (Northern Cheyenne), and John Big Tree (Seneca, though this attribution is historically debated). "LIBERTY" appears in the upper right, matching the original nickel design.
The reverse shows an American bison standing atop a small mound, modelled after Black Diamond, a bison at the Central Park Zoo in New York City. SilverTowne's version adds the mint name and weight/purity markings around the rim.
The original Buffalo Nickel was minted by the US Mint from 1913 to 1938. When the design entered the public domain, it became the most widely reproduced design in private minting. SilverTowne's version includes the "SilverTowne" mint mark stamped on the bar, along with "ONE TROY OUNCE .999 FINE SILVER" and a reeded edge.
SilverTowne Buffalo Bar Tax Treatment
SilverTowne Buffalo bars are private mint products with no legal tender status or face value. Tax treatment follows the standard rules for silver bullion in each jurisdiction.
United Kingdom
Subject to 20% VAT on purchase. Not CGT-exempt. These bars are available from UK dealers such as Atkinsons Bullion but are not competitive with VAT-free gold or CGT-exempt silver Britannia coins for UK investors seeking tax efficiency.
United States
No federal sales tax. Most states exempt investment bullion from state sales tax. SilverTowne Buffalo bars are IRA-eligible, meeting the .999 fineness requirement from a recognised manufacturer. Capital gains are taxed at the collectibles rate of up to 28% for holdings over one year.
Canada
Subject to GST/HST. Less commonly stocked by Canadian dealers than domestic products like the Maple Leaf.
Australia
Silver at .999+ purity from recognised refiners is GST-free. Limited availability from Australian dealers; Perth Mint products dominate the domestic market.
Singapore and Hong Kong
Singapore exempts investment silver at .999+ purity from GST. Hong Kong has no sales tax on bullion. SilverTowne products have limited distribution in Asian markets.
South Africa
Silver bullion carries 15% VAT with no exemption for private mint products.
SilverTowne Buffalo vs Other Low-Premium Silver
The SilverTowne Buffalo bar sits in the "known brand, low premium" segment of the silver market. The comparison is primarily against other private mint products and sovereign coins at the same weight.
vs Golden State Mint Walking Liberty
The 1 oz Golden State Mint Walking Liberty bar is a near-identical competitor: same weight, same purity, similar pricing. Golden State Mint (founded in 1974, Westlake Village, California) has a comparable heritage. The choice between them is purely aesthetic: Fraser's bison design versus Weinman's Walking Liberty. Both are interchangeable as generic silver.
vs American Silver Eagle
The Silver Eagle uses Weinman's Walking Liberty obverse design, making it a visual cousin of private-mint Buffalo/Walking Liberty rounds. The difference is substance: Eagles carry legal tender status ($1 face value), government-backed weight and purity guarantees, and IRA eligibility. They also carry premiums of 20-30% over spot versus the Buffalo bar's much lower premium. For buyers prioritising cost per ounce of silver, the SilverTowne Buffalo delivers significantly more metal per dollar. For buyers prioritising resale liquidity and institutional acceptance, the Eagle is the safer choice.
vs Scottsdale Mint Vortex
The 1 oz Scottsdale Mint Vortex targets a slightly different buyer: someone willing to pay a small premium for a distinctive design from a recognised private mint. The Vortex bar is .9999 fine (versus .999 for the Buffalo) and has a reeded edge. Both are private mint products without legal tender status, but the Vortex's contemporary design and higher purity give it a mild edge in perceived quality.
vs SilverTowne Prospector
SilverTowne's other signature design is the Prospector (a miner leading his donkey). Both carry identical premiums and specifications; the choice is purely aesthetic. The Buffalo design has broader name recognition because of its connection to the original 1913 nickel.
1 oz SilverTowne Buffalo Silver Bar: frequently asked questions
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The lowest price we track for a 1 oz SilverTowne Buffalo is $70.05 from Monument Metals, currently 7.2% over the silver spot price. Prices are compared across 3 dealers. At 1 oz of .999 fine silver, the bar's melt value moves directly with the silver spot price.
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The SilverTowne Buffalo is a 1 oz .999 fine silver round produced by SilverTowne, a private mint founded in 1949 and based in Winchester, Indiana. SilverTowne has been striking silver since 1973. The Buffalo features James Earle Fraser's design from the 1913 Buffalo Nickel, showing a Native American portrait on the obverse and an American bison on the reverse.
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Check the weight on a precision scale: a genuine 1 oz SilverTowne Buffalo weighs 31.1 grams with a diameter of 39 mm. Silver is not magnetic, so a strong magnetic attraction points to a base-metal core. Inspect the stamped hallmarks: "ONE TROY OUNCE .999 FINE SILVER" and the SilverTowne mint name should be clearly struck. An XRF or Sigma Metalytics tester gives definitive composition confirmation.
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No. SilverTowne is a private US mint, so the Buffalo bar carries no face value and is not legal tender in any country. It is a privately minted silver round, not a government-issued coin. Buyers should not expect the tax advantages available to sovereign legal-tender coins in jurisdictions such as the UK.