A Silver… Ingot?
We’ve talked a little bit about what silver ingots are – basically an ingot silver could be just about any form or piece of silver, be it coin, round, or bar. A quick definition offers, “A block of steel, gold, silver, or other metal, typically oblong in shape. Obviously, for our purposes, we’ll focus on the silver part. The term “ingot of silver” is a bit dated and probably used a bit more outside the US. In my silver dealings, I don’t think I’ve ever heard anyone use the term in verbal or written form. Despite that, silver outside the US is still silver.
What is a Sterling Silver Ingot?
A quick check of our favorite online encyclopedia tells us that sterling silver is an alloy (more than one metal combined) containing pretty close to 92.5% silver and 7.5% of other metals, usually copper or nickel. This is compared to fine silver which is 99.9% silver. For this reason, silver ingot value is a bit more of a challenge to calculate. In other words, you’d best get out your calculator and your portable scale if you’re going to be investing in this type of silver.
Where to Buy Silver Ingots?
Your main source for buying silver ingots could definitely be online, but caveat emptor, my friends, buyer beware. We won’t go into the reasons why because we have already and they should be obvious. A more reliable route could be your LCS (Local Coin Shop) if they carry that sort of thing. An even better route could be yard sales, 2nd hand stores, or swap meets where you can often find these types of items. Even at gun shows these days you’ll run across a fair amount of silver. At all of these places you can find silver ingots for sale. You can find a lot of coins and rounds as well, and often at discounted prices (when the sellers aren’t aware of the current silver price…)
Silver Ingot Value
So why would someone even bother with this form of silver? Well, that depends on the type of silver you’re dealing with. If you’re dealing with fine .999 silver, then really no problem, but if you’re talking about sterling silver ingots, then there could be challenges. Things could get a little bit hairy when it comes time to sell as well. Obviously, it’s going to be a bit of a challenge proving that you’ve got exactly 92.5% silver in that little sterling silver ingot pendant . You might want to check out the Sterling Silver Price article to learn more about this type of silver. There’s also a quick explanation of what a “troy ounce” is, in case you were wondering.
If you’re looking for investment grade silver, stick with the basics: coins and bars. If you want to combine your investments with your flair for fashion, then go nuts. Get yourself an ingot silver or five.