Short answer: Buying silver in bulk lowers what you pay over spot per ounce. Big bars (100 oz and up) usually carry the lowest premium; government coins in tubes and monster boxes cost more per ounce but are easier to sell a little at a time. Silver is heavy and bulky for its value, so plan storage before you buy.

The bulk formats compared

Bars: lowest cost, least flexible

A 100 oz bar is the sweet spot for many bulk buyers: a low premium and a size dealers trade every day. Stick to well-known refiners so it’s easy to sell. A 1,000 oz bar is what exchanges trade; it’s cheapest per ounce, but it weighs about as much as a bag of concrete and fewer dealers buy it back.

Monster boxes and tubes: easier to sell

A monster box is the mint’s sealed shipping box of 500 coins in 25 tubes. American Silver Eagles come 20 to a tube; Canadian Silver Maple Leafs come 25 to a tube. Government coins cost more per ounce than bars, but any dealer recognizes them, and you can sell a single tube or coin when you need cash. Buying a full sealed box usually costs less per coin than buying tubes one at a time.

Think about weight and space

Silver is worth far less per ounce than gold, so the same dollar amount takes up dozens of times more room. A few monster boxes can outgrow a small home safe. Check your safe’s floor-weight rating and your insurance before a large delivery. See how to store precious metals at home.

Costs beyond the premium

• Shipping and insurance. Heavy orders can cost more to ship; many dealers ship free above a set order size.
• Payment. Wire or check is usually cheaper than a credit card.
• Sales tax. Many states exempt bullion, but some tax it or tax orders below a threshold. Check your state’s rule before you order.
• Buyback. Ask what the dealer pays for the same item before you buy.

In a Silver IRA

Silver bars of .999 fineness or better from accredited refiners, and American Silver Eagles, can generally go in an IRA if your custodian approves them. IRA silver must be held at an approved depository, not at home. See our Silver IRA guide.

Taxes when you sell

The IRS treats physical silver as a collectible. Gains on silver held more than a year are taxed at up to 28% federally. Talk to a tax professional before a large sale.

Frequently asked questions

What’s the cheapest way to buy a lot of silver? Usually 100 oz bars from a well-known refiner, paid by wire.

Is a monster box a good buy? It’s a good middle ground: a lower cost per coin than buying singles, and you can still sell a tube at a time.

Should I buy 1,000 oz bars? Only if you’ll store them professionally and won’t need to sell in pieces.

Related: Best silver coins to buy · Is silver a good investment? · Gold vs. silver · Silver price today

Sources: IRS, Investments in collectibles in individually directed qualified plan accounts · IRS, Topic 409, Capital gains and losses (collectibles) · United States Mint, American Eagle silver bullion coin packaging · Royal Canadian Mint, Silver Maple Leaf bullion packaging

About this guide

Written by Mark Sandulli, founder of BestGoldPrice.com. Mark is not a financial advisor, tax professional, attorney or precious-metals dealer. This guide is general information based on public sources, not financial, tax or legal advice, and it may contain errors or be out of date. Precious metals can lose value. Confirm prices, fees and rules with the company and a licensed professional before you buy. We may earn a commission from some links. Read our full disclaimer.