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1 oz silver bars
Number of products: 11A troy ounce is 31.1035 g, which in silver is 2.97 cm³ of metal — about the size of a domino. It is the unit every silver quote is expressed in, so an ounce bar needs no arithmetic to value.
This is the widest selection of any silver bar weight we carry: plain bars from Argor-Heraeus, Nadir Metal Rafineri and StoneX, PAMP's Lady Fortuna and Diwali designs, and six themed bars from The Royal Mint. Live quotes on the silver price page.
Two different products under one weight
At one ounce the category splits in two, and the split matters more than the weight does.
Plain bullion bars — Argor-Heraeus, Nadir Metal Rafineri, StoneX — are priced on metal plus the smallest premium the format allows. They are what you buy if the objective is silver.
Themed and branded bars — PAMP's Lady Fortuna and Diwali Lakshmi & Rangoli, and The Royal Mint's Loki, Odin, Thor, Queen's Beasts Completer and two Star Wars bars — carry a design premium on top of the metal. They contain exactly the same ounce of silver. What you are paying extra for is the design and, in some cases, a limited production run. Whether that premium comes back on resale is a collector question, not a bullion one, and it can go either way.
The Royal Mint is not an LBMA refiner
Six of the bars at this weight come from The Royal Mint, and this is worth being precise about: The Royal Mint does not appear on the LBMA Good Delivery list for silver. That list accredits refineries that produce wholesale bars, and the Royal Mint is a mint rather than a refinery in that sense.
The refiners on this page that are accredited are Argor-Heraeus SA (Mendrisio, accredited 24 June 1992), Nadir Metal Rafineri (Istanbul, 20 June 2012) and MKS PAMP SA (Castel San Pietro, 1 October 1995). The accreditation belongs to the refinery, not to the individual bar, and the correct word is accreditation rather than certificate.
None of this makes a Royal Mint bar a lesser product. It means the assurance behind it comes from the mint's own name and packaging rather than from the London wholesale list.
Fineness at this weight
The London Good Delivery standard for silver sets the minimum at 999.0, which is why 999 is the norm across the metal rather than the 999.9 gold buyers expect. Some lines at this weight are struck at 999.9 — the difference is one part in a thousand and it does not change how the bar is priced.
No producer at this weight publishes dimensions for its silver bars, so none are quoted here. The volume is fixed regardless: 31.1035 g of silver is 2.97 cm³, against 1.61 cm³ for the same mass of gold.
Why premiums are proportionally highest on small bars
Rolling, pressing, stamping a serial number and sealing a bar cost about the same whether the bar holds one ounce or one kilogram. Spread over 31 grams of a relatively cheap metal, that fixed cost is a much larger share of the price than it is over a kilo. An ounce bar will always carry a wider percentage premium than a 500 g or 1 kg bar, and that is manufacturing arithmetic rather than a dealer decision.
VAT on silver in the United Kingdom
The UK VAT exemption for bullion covers gold and nothing else. HMRC defines gold bullion in VAT Notice 701/21 as gold of a purity of not less than 995 thousandths in the form of a bar or wafer, or a qualifying gold coin. Silver falls outside it, so silver bullion carries VAT at the standard rate — currently 20 per cent in the United Kingdom and 23 per cent in Poland.
Capital gains relief does not apply to bars either. The UK exemption follows sterling legal tender and a bar is not currency. This states the published rule and is not tax advice.
Questions buyers ask about this weight
Are Royal Mint silver bars LBMA-accredited?
No. The Royal Mint is not on the LBMA Good Delivery list for silver. The accredited refiners represented at this weight are Argor-Heraeus, Nadir Metal Rafineri and MKS PAMP.
Is a themed bar worth more than a plain one?
It costs more. Both contain the same troy ounce of silver, and the extra you pay is for the design. Whether it returns on resale depends on collector demand for that specific issue.
Why is the premium on an ounce bar higher than on a kilo bar?
Because the manufacturing cost per bar barely changes with size. Spread over 31 grams it is a much larger share of the price than spread over a thousand.
Does silver carry VAT?
Yes, at the standard rate — 20 per cent in the UK and 23 per cent in Poland. Only gold bullion is exempt.
Do you buy 1 oz silver bars back?
Yes, quoted against the current silver price. Themed bars are quoted on metal content unless there is active collector demand for that issue. See the buyback page.
Other silver bar weights
5 g · 10 g · 20 g · 50 g · 100 g · 250 g · 500 g · 1 kg
All weights on the silver bars page. For an ounce of the same metal struck as a coin, see 1 oz silver coins.
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