1 kilo Silver Bar
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Weighing 32.15 Troy Ounces, the 1 kilo silver bar is a popular option for bullion investors. The bars are easier to store and take up less space than smaller bars. 1 kilo silver bars, also known sometimes simply as "kilobars" tend to be used more in continental Europe, which runs on the metric system, whereas the USA and UK still denote the price of silver and gold in troy ounces. The bars are however able to be traded in other locations with a simple weight conversion calculation. 1 kilo silver bars have been produced by major silver bullion manufacturers of the world such as APMEX, UBS (Union Bank of Switzerland), Perth Mint, Johnson Matthey, Metalor, Credit Suisse, Scottsdale Silver and others.
1 kilo Silver Bar
As with other silver bullion bars, 1 kilo silver bars are typically manufactured at 999 fine (at least 99.9% pure silver). This figure is marked on the bar along with the weight, assayers mark, manufacturer's stamp and (typically) a serial number. April 2012 silver prices of around $31 to $32 per troy ounce means that a 1 kilo silver bar will cost a little over $1000.
Buying 1 Kilo Silver Bars
One of the advantages of larger silver bars such as the 1-kilo, 100 oz or even 1000 oz is that they carry a lower premium over spot than smaller bars.
It is worth bearing in mind that silver is not as easily transported as gold and approximately 50 times as much weight of silver is required for the equivalent monetary value in gold. However there are good reasons for owning silver: Many people believe however that the gold-silver ratio will "close" at some point, leaving the silver owner in very good shape.
1 kilo silver bars are widely available online and by phone - and ordering is a relatively simple process. It is suggested to buy from one of the established bullion traders as they have a long reputation of service, and to purchase bars manufactured by one of the well known bullion manufacturers such as those listed on this website. If shopping online, look for a certificate such as that of the Better Business Bureau (BBB) - and if you are doing research, there's no harm in doing an Alexa, archive.org or whois search to see long the site has been around.
One can often see silver bars for sale on ebay and although in the larger sizes these are likely to be pure silver, be aware of anything that says "mills" or "mils" on it - as in "100 mills silver". This means that the bar is silver covered only, to 100 mills thickness - and not pure silver! A "mil" or "mill" is a thousandth of an inch. Such bars are often seen at the one ounce size, where there are so many "art bars" for collectors that they can blend in.
It is highly unlikely that you will see a genuine, pure silver bar for sale anywhere at a price significantly below the spot price: Why would anyone attempt to sell under the spot price when they can get a price very close to spot, rapidly, from a bullion dealer? Imagine if you saw ten dollar bills for sale for seven dollars. I would run!
Selling 1 Kilo Silver Bars
1 kilo silver bars are considered a highly liquid commodity. This means that they are traded readily and can be converted into their cash equivalent through reputable bullion dealers.
If you are selling 1 kilo silver bars, you will not realise the "spot price", but a price close to it. This price is often listed online alongside the sale price, as the "buy back price".
1 Kilo Silver Bar Dimensions
1 kilo silver bars are typically around 10cm long, 5 cm wide and 2.2 cm deep - slightly smaller in length and width than an iphone and double the thickness.
1 kilo of silver is 32.150746568627981 troy ounces and the spot price of one ounce of fine silver should be multiplied by this number in order to calculate the current value of the kilobar.
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