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Silver Bullion Premiums Returning to Pre-Pandemic Levels

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The COVID-19 pandemic had a profound impact on global supply chains, creating a myriad of problems and challenges for mining and minerals companies, refineries and mints.

Many mines and refineries around the world were shut down or operated at reduced capacities due to lockdowns, quarantine measures, and worker illness. This led to reduced output and shortages of silver, gold and platinum, not only for investors, but especially in industries where precious metals are consumed.

The supply chain disruptions and lockdowns led to wholesale premiums on precious metals to increase quickly as demand from investors was driven by uncertainty and supply concerns.

The premiums on US Mint Silver Eagles were impacted more than others. Most of the high premiums were caused by a combination of things that included a variety of repeated shutdowns, issues with blank planchets from suppliers and other problems related to the production of coins. At their peak, the dealer premiums on Silver Eagles were in excess of 50% more than the silver spot price.

In today’s market, bullion buyers are able to find deals on 10 oz silver bars from various online dealers with premiums below $2.00 per ounce over the prevailing silver spot price. For investors looking for larger silver bars, such as silver kilos and 100 oz bars, dealer premiums can be the range as low as $1.25 to $1.50 per troy ounce above spot silver.

Silver premiums have not been this low in several years making this a great opportunity to back up the truck and load it up.

Although the Federal Reserve has paused interest rate hikes for the time being, many analysts are speculating that the results of the policy hikes aren’t likely to be felt for twenty-four months or longer. The Fed began the string of rate hikes in March 2022 as a following two years of consistently high inflation impacting prices.

If analysts predictions are correct, the CPI, which includes consumer prices of essential everyday goods, including housing, gasoline and food, isn’t likely to show meaningful decreases until the first quarter of 2024 or beyond.

JP Morgan Chase CEO Jamie Dimon continues to repeat his dire prediction of an extended period of stagflation.

Stagflation is an economic term used to describe a situation in which an economy experiences stagnant growth, high unemployment, and high inflation simultaneously. This combination is particularly troubling for policymakers because the usual tools to combat inflation, like raising interest rates or reducing government spending, can exacerbate unemployment and further hinder economic growth. While measures to boost the economy, like lowering interest rates or increasing government spending, can worsen inflation.

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Storing Silver at Home

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Silver bullion typically does not need special treatment when it comes to storing at home. Many people are able to store their silver in a basic hiding place somewhere around their house.

Finding a place in your home to store silver does not need to be complicated. Simple is better, most of the time.

Some common hiding places that people choose may include places where other valuables are stored. Such as the drawer of a nightstand or desk, a bookshelf or a lockbox.

There are many options for storing 1 oz silver rounds at home. One of the easiest option is a plastic storage tube designed to store silver coins and rounds that has the same (or similar) diameters as the coins. These are similar to the plastic coin tubes that are used by the US Mint for silver eagle packaging.

Storage tubes are made from molded plastic that is specifically shaped and sized to fit specific coins and rounds based on their dimensions.

Many of the modern 1 oz silver rounds that are released by private mints are 39 mm in diameter. You can measure the specific silver rounds in your collection to ascertain the specific dimensions. Finding storage tubes that are the right size for your silver rounds is as easy as searching on Amazon or eBay.

Many reputable coin supply vendors sell their products through various online marketplaces to make it easy for collectors and investors to easily locate the items needed to protect your investment.

Plastic coin tubes are also available in rectangular shape that are designed specifically to hold up to twenty 1 oz silver bars. The compact size and shape of these coin tubes make it easy to store up to 20 oz silver in a small amount of space virtually anywhere in your home.

At Home Safe or Lockbox

Over time, many silver investors will look for better, more secure storage for their investment.

Firearms owners may already own a safe to keep firearms secure. It’s a logical and practical choice to store silver alongside of firearms at home.

With most 10 oz silver bars being of a similar size and shape as a deck of playing cards, a couple of them can be neatly stacked alongside boxes of ammo.

Various other options are plentiful for those new to precious metals that may not already have a gun safe at home.

For a secure installation at home, a safe should be mounted to part of the foundation of the house. This is not always possible due to the many variations in construction. Many will, instead, use bolts and mounts to secure the safe to the floor or wall framing.

Some silver stackers may even set up a diversion safe or a honeypot in a spot that would be obvious to thieves looking for a quick score. While keeping the real shiny stashed away in a less obvious location or in a diversion safe of some sort.

Diversion Safes

Diversion safes come in a variety of disguises that look like ordinary household objects. Most often used as a clandestine way of storing herbs and other medicines, these are also a great way for investors to keep their investment secure without having to invest in a large safe.

One of the first things to come to mind for many is the simple soda can safe. They are a basic and simple way to store silver in your refrigerator.

Other options include picture frames, book safes, hanging safes, in-wall safe disguised as an electric outlet. You can find hundreds of simple and effective options for hiding a couple of ounces in plain site.

It is a good idea when storing silver at home to be prepared. It doesn’t take long very long to fill a small safe with shiny metal. So when you are investing in a safe it is a good idea to plan ahead.

After a while, most investors will develop some diversity to their collection that may include a mix of silver bars of different sizes, 1 oz silver rounds and coins.

Ammo cans, either metal or plastic are a good size for storing various size silver bars and coin tubes together. They are strong, durable, air-tight, waterproof, lockable and are easy to keep hidden away.

They’re also portable and easy to grab if you need to pack up in a hurry. However, they’re also easy for a thief to grab unless they are secured.

While ammo cans are a good option in some scenarios, they are still not match for a good safe.

When buying a safe, you should consider your future plans. How much silver do you plan to buy per week? per month? per year? Will you trade silver for gold in the future?

A good home safe can be a significant investment that you don’t want to find yourself repeating every six months to a year.

There are a variety of consumer-grade home safes that can provide adequate protection for most investors that can be suitable for storing up to a few hundred ounces of silver.

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One Hundred Ounce Silver Bars

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Precious metals have long been trusted by investors as store of value and wealth.  When looking for the most cost effective way to buy silver. For many stackers, 100 ounce bars are one of the most cost effective ways for investors hold physical silver.

These bars often have the lowest premium per ounce over spot price and are a great way to bring peace of mind during times of economic and political restlessness. A variety of both private and sovereign mint 100 oz silver bars are in stock and ready to ship from many online bullion dealers.

Comparing the features, dealer premiums and shipping costs of the many available options is one of the ways to find the best deal on what fits your needs.

100 oz Silver Bars 

Serious precious metals stackers choose 100 oz bars because they will often have the lowest dealer premium per ounce. This makes them ideal for adding weight to your silver portfolio when stacking silver.

Some leading private mint one hundred ounce silver bars include those manufactured by Asahi Refining, Scottsdale Minting, Royal Canadiam Mint, Valcambi, Germania and others. Some designs and manufacturers may offer some rarity and collectability which could have an impact on premiums down the road.

A 100 ounce silver bar is an investment vehicle that can be utilized to stack your wealth at home while taking up only a relatively small storage space.

Each mint works within the conditions of their affiliation organizations certifications, such as LBMA, to ensure that these silver bars adhere to the outlined specifications. There is no standard size for a silver bar of this weight class and the dimensions will vary between manufacturers.

However, each 100 ounce silver bar contains almost 7 pounds of silver!

Secondary market 100 oz Silver bars are circulated. Which means that they were at some point sold back to a bullion dealer, pawn shop, local coin store or other exchange. Secondary market precious metals, sometimes refered to as “Dealer’s Choice”, typically have lower premiums than when they were newly minted and make an ideal choice as a store of wealth.

All hundred ounce silver bars are stamped with their weight and purity and include the manufacturers hallmark.

Industrial Demand for Silver

Precious metals and other commodities are always in demand by many industries. They play a significant role as components in many of the things that are part of our everyday lives.

Silver is one of the most efficient conductors of electricity. Many everyday electronic devices, such as cell phones, computers, solar panels and electric vehicles are all made various amounts of silver embedded in the circuitry. There is roughly 1/3 of a gram of silver (0.34g) inside the average iPhone.

While each device only has a small amount, considering that Apple has sold over 1.5 billion devices since 2007. When added up, that’s 510,000,000 grams or 16,396,881 troy ounces of silver.

In perspective, iPhone manufacturing alone has consumed more than 464,843 kilos of silver.

Already, more than 5.3 billion discarded smartphones that have been piling up in landfills as e-waste. With at least another 151 million being thrown away each year. The majority of that silver will likely never be recovered and is likely gone forever.

Today, advanced wound dressings and ointments are compounded with elemental silver and silver ions. The anti-bacterial properties have been used to treat severe burns and other skin ailments for more than 6,000 years.

Silver also plays a prominent role in medical imaging, x-rays and other radiographic imaging.

According to Statista, the jewelry industry consumed more than 202 million troy ounces worldwide in 2022 alone, more than 6,250 tons.

Generic 100 oz Silver Bars

The price of silver is driven by the spot futures markets. Those markets are where brokers for various industries buy silver with the expectation that it will be mined, refined and delivered by a specific future date.

Many modern industries are responsible for consumption of silver that will never be recovered or recycled. This will compound and effect the rarity and availability of silver and drive prices up over time.

Value investors look to the secondary market when searching for the lowest premiums on 100 oz silver bars. These are typically generic, private mint bars that have been bought and sold multiple times after being bought when they were freshly minted. Signs of wear, tear and patina can be indicative of its age and it’s common that most of these bars will have some dings, dents and scratches.

Some investors looking to preserve spending power consider generic 100 oz silver bars to be the perfect investment item. It’s often used as a hedge against high inflation because they maintain their intrinsic value.