---
title: "How to Get the Best Deals on 1000 oz Silver Bars | Monex"
site: "Monex Precious Metals"
domain: "https://www.monex.com/"
type: "Knowledge Base Post"
description: "Experts address the key concerns to help investors find the best deals on silver, focusing on 1000 oz bars since they carry the least premium per ounce."
featured_image: "https://www.monex.com/wp-content/uploads/silver_bar_w_bag_square.jpg.webp"
last_updated: "July 17, 2024"
canonical_url: "https://www.monex.com/knowledge/how-to-get-best-deals-on-1000-oz-silver-bars/"
markdown_url: "https://www.monex.com/knowledge/how-to-get-best-deals-on-1000-oz-silver-bars.md"
---

# How to Get the Best Deals on 1000 oz Silver Bars

### How do I get the best deal on silver?

Obviously, it depends on who you are, but for the average American who wants the metal, and is not concerned about liquidity or market price timing advantages, using hard cash at a local coin shop can be the best deal if you know what you are doing and have time on your hands. For others, that avenue might just prove to be the worst idea for them. If you lean towards ‘time is money’ and want to invest your time elsewhere, compare price, knowledge and service.

### Can I Buy Silver at a Bank?

In America, [buying silver](/investing-in-silver/) at banks is not a thing. Why? Although getting silver at some banks is technically possible, banking institutions generally do not make good service providers. Banks must be large, bureaucratic and regulatory by nature. Looking at the difference between a bank’s buy/sell prices on physical foreign exchange, meaning simply exchanging for cash, you can see why banks can’t compete with a silver bullion dealer.

### Where Is the Most Trusted Place to Buy Silver?

There can’t be a ‘most trusted’ place to buy silver. Certainly, longevity and verbal accessibility are important but not definitive. That said, the most trusted method of buying silver and other commodities is through a transactional bank escrow facility. Unfortunately, escrow is generally quite challenging and expensive to implement, but not at Monex. If you are interested in the most trusted methodology for [buying silver](/buy-silver-bars/), consult one of our Account Representatives to see how easy Monex and Farmers & Merchants Bank make it.

### Best and Worst Places to Buy 1000 oz Silver Bars

Clearly, the worst places to buy [1000 oz silver bars](/1000-oz-silver-bullion-bars-for-sale/) are in the seven states that levy sales and use taxes on this constitutional money, and Minnesota. Sales and use tax is a consumption tax. As such, sales tax on large investment grade bullion bars sounds ridiculous, to be sure, even ignoring that silver for exchange, rather than consumption, is constitutionally exempt from state levy. These states will certainly progress over time. But for now, besides being wrong, it deprives state recipients of bullion from a fair acquisition avenue. Of course, those investors can use the Monex Atlas depository storage account to circumvent this punitive tax for the time being.

In 2014, Minnesota legislators passed the Bullion Coin Dealers Act. The law required bureaucratic registration and oppressive processing measures. Of course, the costly law restricts the lower-priced dealers from having the revenue to offer services to that state’s residents. Without good competition and higher execution costs, Minnesotans have to pay more.

From 2014 through 2021, Minnesota took enforcement actions against 49 out-of-state dealers. Many out-of-state precious metals dealers decided the benefit of doing business in Minnesota was not worth the cost and hassle. This harmed Minnesota residents, causing them to lose access to the national market and access to better prices and service alternatives.

Ultimately, Americans fought the law, and the 8th Circuit agreed to give relief to Minnesotans by determining that the statute violated Constitutional Law, citing the Negative Commerce Clause and imposing a burden on interstate commerce. Though Minnesota’s Department of Commerce does not enforce the law, it has been slow to publicize, and the benefits of the Appellate Court determination have yet to filter to residents.

### Bottom Line? How Much Should I Pay For Silver Bullion

After locating where you feel most comfortable [buying and selling silver](/investing-in-silver/), figure out how much you should pay for silver bullion. One method is to bookmark the [Monex Live Prices page](/liveprices/) and compare at the time you wish to transact. Remember to refresh the page periodically when using your browser. There is no cost to you to use Monex prices to your advantage. The Monex live spot price is generally lower than at other sites. Ultimately, what really matters is how much you are paying for the size of the bar that suits your investment strategy best.