Ten ounces of silver bullion strike a sweet spot for serious investors, occasional stackers, and collectors alike. This size offers a meaningful store of value, exceptional portability, and a reasonably low premium over bullion melt value. Because 10 oz silver bars are affordable for a wide range of buyers, many reputable brands produce them. In this article, we explore the top 10 oz silver bar brands for investment.
High-premium bars are not the most effective way to own pure silver for investment. Typical overpriced 10 oz silver bars, such as government mint bars and vintage Johnson Matthey bars, may retain resale value above melt value when sold carefully in small amounts within niche markets. These bars are best suited for expert collectors. Typical volume investors seeking investment appreciation should steer clear of these.
Recognizability, reliability, and popularity of 10 ounce silver bar brands often come from how long the brand has been established in the precious metals marketplace. Another important factor is the length of time the brand has been recognized by the London Bullion Market Association (LBMA) as a ‘good delivery’ approved brand. The brand’s storied hallmark, or brand name mark affixed to the bar, is synonymous with its reputation.
Furthermore, a brand’s geographic affiliation can add to the appreciation of its hallmark. Note that a company’s current location and past origins do not necessarily align with where refining and final fabrication occur, nor does this matter much in the silver bar marketplace. This is common in buyer brand appreciation. It is much like luxury designer brands such as Louis Vuitton or Gucci, which carry their longstanding, fashionable names from Paris and Italy even though manufacturing takes place globally.
Listed below are some of the most longstanding and reliable brands, along with a comparison of factors that help investors understand brand appreciation.
| Production Brand | Branding Location | Year Founded | LBMA Approval | Longstanding Brand/Hallmark | High Premium Disadvantage |
|---|---|---|---|---|---|
| Asahi Refining USA | Utah | 1952 | 1989 | Yes | No |
| Engelhard | Terminated | Yes | Yes | ||
| Heraeus Ltd | Global | 1851 | 1972 | Yes | No |
| JBR Refinery | UK | 1977 | 1985 | Yes | No |
| Johnson Matthey | Global | 1817 | 1961 | Yes | Yes |
| Monex Precious Metals | California | 1967 | Yes | No | |
| Pamp Suisse | Switzerland | 1977 | 1987 | Yes | Yes |
| Perth Mint | Australia | 1899 | 2003 | Yes | No |
| Royal Canadian Mint | Ottawa | 1908 | 2011 | Yes | Yes |
| Royal Mint Limited | UK | 1279 | 1919 | Yes | Yes |
| SilverTowne Mint | Indiana | 1949 | Yes | No | |
| Sunshine Mint | Idaho | 1979 | Yes | No | |
| Valcambi | Switzerland | 1961 | 1972 | Yes | No |
The “MONEX” hallmark became widely recognized as part of a pioneering joint venture between a private company and the Royal Canadian Mint. In 1982, the Mint struck one ounce Monex Silver Eagles bearing both the Monex hallmark and the Royal Canadian Mint’s hallmark.
Engelhard was an early champion of small-format 10 ounce bullion bars and a pioneer in investor silver products. Engelhard bars are no longer produced today. The brand was terminated in 2006 when BASF acquired the company. That said, the Engelhard bar brand and its premium have been well above melt value for decades, as it is collected as a legacy hallmark by those who appreciate the historical significance of silver bar production in America.
Simply put, investors should seek the lowest premium bars from long-established, reliable brands. How do you identify good target brands? In typical silver markets, excluding unusual product shortages like those during the two-year COVID aftermath or a banking crisis, the purchase price of ten ounce silver bars should be 5 to 7 percent above the true spot silver price, based on the true midpoint. For example, if the true midpoint price of silver is $35 per ounce, a fair purchase price for a 10 oz bar would be between $367.50 and $374.50.
This guideline, also known as a rule of thumb, should not be applied using an individual dealer’s quoted spot-ask price because it does not align with the longstanding published midpoint benchmarks of the New York COMEX, London LBMA, and Monex Spot Silver. Without that universal constant, it is like measuring with a thumb on the scale.
For access to deeper knowledge and experience, contact a bullion professional at Monex.
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