What is a 1000 oz Silver Bar?
The 1000 oz silver bar (also called a "Good Delivery" bar or "COMEX bar") is the standard unit of trade for institutional silver markets. Despite the name, these bars actually range from 900 to 1,100 troy ounces—the "1000 oz" is just a nominal designation.
These bars are what banks, hedge funds, and commodity traders buy and sell. When silver futures contracts are settled with physical delivery, these are the bars that change hands.
Specifications & Dimensions
| Specification | COMEX Standard | LBMA Good Delivery |
|---|---|---|
| Weight Range | 750-1,100 troy oz | 900-1,100 troy oz |
| Purity | .999 fine minimum | .999 fine minimum |
| Physical Weight | ~62-75 lbs (28-34 kg) | ~62-75 lbs (28-34 kg) |
| Dimensions (approx) | 10-12" x 4-6" x 3-4" | 10-12" x 4-6" x 3-4" |
| Required Markings | Serial #, weight, assay, refiner | Serial #, weight, assay, refiner, year |
Why 1000 oz Bars Have the Lowest Premium
The economics are simple: manufacturing costs are spread across more ounces. It costs roughly the same to pour and stamp a 1 oz bar as a 1000 oz bar, but with 1000x the silver content, the per-ounce fabrication cost becomes negligible.
| Product | Typical Premium | Cost at $25 Spot |
|---|---|---|
| 1000 oz Bar | 1-3% | $25,250 - $25,750 |
| 100 oz Bar | 3-5% | $2,575 - $2,625 |
| 10 oz Bar | 5-8% | $262 - $270 |
| 1 oz Round | 10-15% | $27.50 - $28.75 |
| American Silver Eagle | 15-25% | $28.75 - $31.25 |
Who Buys 1000 oz Silver Bars?
Ideal For
- Institutional investors and funds
- High-net-worth individuals ($250K+ in precious metals)
- Serious stackers optimizing for lowest cost per ounce
- IRA accounts with $50K+ in silver allocation
Not Ideal For
- Beginners or small investors
- Those needing liquidity/divisibility
- Home storage without professional security
- Preppers planning for SHTF scenarios
Storage Considerations
At nearly 70 pounds each, storage is a real consideration. Most 1000 oz bar owners use professional vault storage, which provides insurance, security, and easy liquidity when it's time to sell.
| Storage Option | Annual Cost | Pros | Cons |
|---|---|---|---|
| Delaware Depository | 0.5% of value | Insured, IRA-approved, liquid | Ongoing fees |
| Brinks/Loomis | 0.4-0.6% of value | Global network, insured | May require minimum |
| Bank Safe Deposit | $300-500/year | Low cost, local access | Not insured, size limits |
| Home Safe | One-time $2,000+ | Full control, no fees | Security risk, heavy |
IRA Storage Requirements
If you hold 1000 oz bars in a Precious Metals IRA, the IRS requires they be stored at an approved depository—you cannot take home delivery. This is actually a benefit: it ensures your bars maintain "good delivery" status and can be easily liquidated.
Where to Buy 1000 oz Silver Bars
Not every dealer carries 1000 oz bars—they require significant capital and specialized logistics. Here are reputable sources:
- SD Bullion - Often has the best prices, bulk discounts available
- JM Bullion - Wide selection, competitive pricing
- APMEX - Largest selection, premium pricing
- Monument Metals - Competitive on large orders
- Direct from refiners - Johnson Matthey, Asahi, Republic Metals (minimum orders apply)
For IRA purchases, work with an established Gold IRA company that sources from COMEX-approved refiners and handles the logistics of depository storage.