What is silver bullion
Silver bullion is silver in the form of bars, coins, ingots or rounds. The best known silver coins are silver Eagles, Maple Leafs, Kookaburras and Britannia's. But not all silver bullion coins are created equal, and buyers must be aware of the differences to make educated purchases. Not all coins are struck to the same fineness. Also while some silver bullion coins have unlimited mintages, others offer smaller numbers and sometimes higher prices. The lowest cost way to buy silver bullion is in the form of silver bars and silver rounds. Many investors prefer rounds over bars because they are minted in the form of a coin and offer greater flexibility when it comes time to sell your silver. If you buy a one-hundred ounce silver bar you are restricted to selling the entire one hundred- ounces at one time. Whereas if you bought one-hundred one ounce silver rounds you have the greater flexibility of selling any number of rounds at anytime.
Westminster Mint offers a wide selection of the most popular silver bullion items including government issue, privately minted and brand-name products. All of the items we offer are internationally recognized. Our privately minted silver bars and rounds begin as silver grain bought directly from a refinery or as COMEX deliverable 1,000 ounce bars. The silver grain is delivered to us in sealed buckets. Each bucket is accompanied by an assay certificate attesting to its purity. The silver we receive is .999 pure or better. The industrial silver bars we buy are also sent directly from refiners and each bar is hallmarked stamped with its weight and purity.
We melt silver grain in batches of ten thousand-ounces at temperatures in excess of 1600 degrees where it turns into liquid. The silver is then poured into billet molds which hold eight-hundred ounces and then is extruded into strips. The strips are rolled to the precise thickness of the silver bars or
silver rounds being struck. Each blank bar or round is individually
weighed and cleaned before it is struck into a finished bar or round.
Each item is individually hallmark stamped with its exact weight and
barrels of .999 silver grain being unloaded
Sacks of silver
grain with Assay certificates
of silver on its way to be melted down and transformed into
ounces of silver being melted at 1600 degrees until it turns to
poured into eight hundred ounce billet
Rolls of silver
from the billet moulds ready to be extruded
being struck five hundred rounds per minute
Key Terms used in the Precious Metals markets.
Troy Ounce: The traditional unit of weight used for Precious Metals.
Spot Price: Current, real-time price of the metal on the market.
Bid: The price at which a dealer is willing to buy your metals
Ask: The price at which a dealer offers to sell.
Melt Value: The intrinsic worth of metal in a coin or alloy.
Spread: The difference between what a dealer will charge to sell an item and what he will pay to purchase it.