Silver was more valuable than gold in ancient Greece
For thousands of years the precious metal silver plays a central role as a means of payment and in the production of jewelery. Since in the past few silver deposits were known, silver in ancient Greece had a higher value than gold. Thanks to advanced mining techniques, the availability of silver has been enormously increased. Therefore, silver was in the shadow of gold for a long time. In the course of the current turmoil on the financial market, the international popularity of bank-capable silver bars has once again increased as a crisis-proof asset.
Modern Silver Bar
Modern silver bars are made from extracted or recycled silver with different fines. By default, 99.9% bars consist of pure silver. Barren in small sizes are – as also common with coins. Large ingots are produced by means of casting molds, resulting in the typical solidification lines, depending on the manufacturing process.
Modern bars are available in different shapes and weights. While very small silver bars only weigh 1 gram, there are also 15 kilos. In addition, the production methods of the different manufacturers differ.
Here you will find our daily prices for Gold & Silver!
Some silver bars are considered non-bankable. If you would like to use bars as an investment, you should refer to the “good delivery” list of the London Bullion Market Association (LBMA). Examples of manufacturers of bank-capable bars are Coin Austria or Argor Heraeus. If you buy silver to have a crystal-clear cash, then we advise you to come back to modern silver coins. Very small silver bars are occupied with above-average high spending charges, which is why it makes little sense to buy these.
In the case of large and medium silver bars, the surcharges are only moderate. Moreover, they can be stored exceptionally due to their high value. Private dockers usually prefer bars of 250 grams, 500 grams or one kilogram.
Special Silver Bar
A very limited, but growing market exists for silver bars, which are either very limited or poured from historical barren producers. These special bars serve both as investment and as a collecting object and change the owner at auctions or in auctions on the Internet to some proud amounts.
Tradability of silver bars
Check your tradability before purchasing silver bars. You can find bank-capable bars in the “good delivery” list of LBMA. The listed producers are regularly subjected to independent controls. Thanks to the strict criteria applied, the LBMA is recognized as a guarantee for the specified fine content and weight.
Non-bankable bars – even with gold bars – buy precious metal traders usually only to the pure melt value. The material value is deducted from both the melting costs and a trade margin. These partial very high mark-ups make for a slight price advantage when purchasing unlicensed bars.
The gold price is often associated with the silver price. Thus, the price of gold coins and gold bars rose frequently when silver is rising. In 2016, however, this was not quite the case. Silver is currently at a historic 5-year low and currently stands at EUR 15.60 / ounce (= 31.1 grams). That is why silver is currently a perfect investment, as the price of the precious metal is likely to rise in the next few years.
If you want to sell or buy silver, you can come to our store in 1090 or 1220 Vienna. We will be glad to advise you on every question and endeavor to provide the best possible service!