In today’s article, I want to talk about 100 oz silver bars, advantages of them as well as some myths and why I think everyone who stacks silver or gold should try and add some of these to their holdings.
The first myth says that these bars can’t be used in a SHTF scenario (read here for prepping tips) because they are too big and it’s just better to have 1oz. coins. This logic is flawed though and let me explain why. During Venezuela’s financial collapse with the massive hyperinflation they experienced, we saw that people began shaving off pieces of gold to pay for things. For example, a restaurant might charge a quarter of a gram of gold for a meal; a hotel stay, a half a gram of gold. Silver obviously is not as valuable as gold, but it’s reasonable to think that if an economic collapse were to happen, people would become much savvier at extracting pieces off their precious metals. Also, we should expect melting them will occur too.
In addition, to this reason above, it’s also reasonable to believe that 100 ounces could be used to barter for larger items. Say for example, a car.
The second myth is that they are expensive and it’s better to dollar cost average. While I’m believer in dollar cost averaging, I do think it makes sense to buy big from time to time. This could be because of a tax refund or maybe a bonus, but the advantages of course will be lower premiums. Still, one thing I want to highlight is just how much you can save buying big.
For example, as of 1/29/2024, if you were to buy a 100oz silver bar from the Canadian Mint it would be about $2,529(excluding taxes and other fees). A 100 1 oz coins from the Royal Canadian Mint, Maple Leafs, would be about $2,649. That’s 4.7% percent higher. Anywhere under 20 coins and the cost goes up to 8%.
Generally speaking, the savings aren’t eye popping but for the same amount of silver, you can easily save $100 or more.
The third myth around 100oz silver bars is the appearance. Many say the bars are ugly and tend not to have good designs. But most 100oz bars are stamped and I personally find many of the designs to be attractive.
What are your thoughts on 100oz. Silver Bars?
