Ohio Precious Metals (OPM) silver bars represent one of America’s most trusted precious metals investments, backed by the country’s largest refiner of Good Delivery gold and silver products.
Ohio Precious Metals is the largest American refiner of Good Delivery gold and silver products, making their silver bars a reliable choice for investors seeking quality and authenticity.
These silver bars come in multiple sizes and purities, with options ranging from 1-ounce bars to larger investment-grade pieces.
The company’s Jackson, Ohio facility spans 19,000 square yards and employs over 250 people, ensuring consistent production quality and supply availability.
Investors considering OPM silver bars will find detailed information about their unique features, purchasing options, storage requirements, and how they compare to other precious metals investments.
Understanding these factors helps buyers make informed decisions about adding these silver bars to their investment portfolios.
Key Takeaways
- OPM silver bars are produced by America’s largest Good Delivery precious metals refiner with proven quality standards
- These bars are available in various sizes from 1 ounce to 1 kilogram with .999+ fine silver purity
- Investors can purchase OPM silver bars through multiple dealers and store them safely using proper precious metals storage methods
What Are Ohio Precious Metals (OPM) Silver Bars?
Ohio Precious Metals silver bars are bullion products manufactured by one of America’s largest precious metals refineries.
These bars come in multiple weights and maintain high purity standards through environmentally responsible production methods.
History and Background of Ohio Precious Metals
Ohio Precious Metals started in 1974 when the company began manufacturing metals from a garage.
The founders initially focused on recovering precious metals from telephone equipment and melting it down for resale as bullion bars.
The company has operated under several names over the years.
It has been known as Ohio Precious Metals LLC, OPM, and OPM Metals throughout its history.
Between 1974 and 2003, the corporation went through many name and ownership changes.
Since 2003, their growth has allowed them to become one of the largest refineries in the United States capable of producing high-standard products.
OPM operates entirely within the United States, unlike competitors who have international operations.
The company is famous for producing bullion in both silver and gold using cutting-edge recycling and refining techniques.
Types and Weights of OPM Silver Bars
OPM silver bars are available in four different sizes: one ounce, ten ounces, one kilogram, and one hundred ounces.
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The ten-ounce bar is the most popular size among investors.
It weighs 283.5 grams with dimensions of 90 mm x 46 mm and a thickness of 7.58 mm.
Design features include the OPM company name and logo on the front.
The bars display weight in troy ounces, silver purity, and “U.S.A.” printed near the bottom to indicate complete domestic minting.
The back features a repeating pattern of the OPM logo.
Smaller bars have a shiny finish while larger kilogram and 100-ounce bars have a matte surface.
Recyclable Material and Purity Standards
OPM uses environmentally friendly production techniques that have minimal environmental impact.
This approach sets them apart from competing refineries and appeals to investors concerned about green investing.
The company leads the industry in recycled bullion production.
Their refinery can purify scrap metals to 99.9% silver purity, and all bars are .999+ fine silver.
OPM silver bars meet IRS requirements for precious metals IRAs under code section 408(b).
The minimum .999 silver purity qualifies these bars for retirement account investments.
Each new OPM silver bar arrives in a mint-sealed plastic container.
This airtight packaging protects the bar from deterioration and oxidation during storage.
Key Features and Design of OPM Silver Bars
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Calculate My Total FeesOPM silver bars feature distinctive design elements that set them apart from other precious metals products.
These bars include specific mint marks, protective packaging, and meet strict purity standards for investment purposes.
Mint Marks and Stamping Details
OPM silver bars display simple yet distinctive design elements that identify their origin and specifications.
The front of each bar features the OPM company name and logo prominently stamped into the metal.
Below the logo, essential information appears in clear lettering.
This includes the weight in troy ounces, silver purity level, and the company name.
The bars also display “U.S.A.” near the bottom to indicate complete domestic production.
All OPM silver bars contain .999+ fine silver, meeting high purity standards.
The refinery processes scrap metals to achieve 99.9% silver purity in their final products.
The back of OPM silver bars features a repeating pattern of the OPM logo.
This simple design creates an appealing texture that collectors find attractive.
Smaller bars in one and ten-ounce sizes have a shiny finish.
Larger kilogram and 100-ounce bars feature a matte surface texture.
Packaging and Condition
Each new OPM silver bar arrives in a mint-sealed plastic container that protects the metal from damage.
This airtight packaging prevents deterioration and oxidation during storage and transport.
The protective containers maintain the bars’ condition and appearance.
Investors can purchase individual bars or sheets containing ten bars in their original packaging.
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OPM does not serial-number or register their bars with major exchanges.
This gives owners more privacy and discretion with their precious metals holdings.
The company produces bars in four standard sizes:
- 1 ounce
- 10 ounces
- 1 kilogram
- 100 ounces
Each size maintains the same design elements and purity standards across the product line.
IRA Eligibility and Investment Appeal
OPM silver bars meet IRS requirements for precious metals IRAs due to their .999 silver purity level.
This satisfies the IRS 408(b) code requirements for retirement account eligibility.
The minimum initial purchase for precious metals IRAs is $5,000.
Additional purchases can be made in $1,000 increments after the initial investment.
IRA-eligible silver bars must be stored at IRS-approved depositories.
Third-party facilities provide secure storage and insurance for retirement account holdings.
Silver bars typically carry lower premiums than silver coins.
This makes them cost-effective for investors seeking exposure to precious metals without high markup costs.
The bars’ domestic production appeals to investors who prefer American-made products.
Ohio Precious Metals operates entirely within the United States, unlike competitors with international operations.
How to Buy Ohio Precious Metals Silver Bars
Buyers can purchase OPM silver bars through established precious metals dealers and online marketplaces using various payment methods.
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Download ChecklistPricing varies based on current silver spot prices and dealer premiums.
Trusted Dealers and Online Marketplaces
Several reputable dealers offer Ohio Precious Metals silver bars for purchase.
JM Bullion specializes in OPM products and provides detailed product descriptions.
Silver.com carries OPM silver bars with fast shipping options.
They offer secure transactions and immediate delivery on orders.
APMEX stocks 1 oz OPM silver bars in protective packaging.
Their inventory includes both new and secondary market bars.
Provident Metals sells 10 oz OPM silver bars in varied condition.
They highlight the bars’ .999 fine silver content and OPM branding.
Buyers should verify dealer credentials before making purchases.
Established dealers typically offer buyer protection and return policies.
Major Payment Methods
Most precious metals dealers accept multiple payment options for OPM silver bar purchases.
Credit cards are widely accepted but may include processing fees.
Bank wire transfers often receive the lowest premiums from dealers.
This payment method provides secure transactions for larger purchases.
Checks are accepted by most dealers but require clearing time before shipment.
Personal checks typically have longer processing periods than cashier’s checks.
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Request Your Exclusive GuidePayPal and other digital payment methods are available through some dealers.
These options provide additional buyer protection for online transactions.
Cash purchases are possible at local coin shops and precious metals dealers.
In-person transactions allow buyers to inspect products before purchase.
Availability and Pricing
OPM silver bars are available in multiple sizes including 1 oz, 10 oz, and 100 oz options.
1 oz bars offer affordability for new investors while larger bars provide lower premiums per ounce.
Pricing includes the current silver spot price plus dealer premiums.
Premiums vary between dealers and typically decrease with larger purchase quantities.
Free shipping is available on orders over $199 from many dealers.
This threshold makes bulk purchases more economical.
Secondary market OPM bars may show contact marks or light scratches.
These bars often carry lower premiums than pristine condition products.
Online marketplaces like eBay offer OPM silver bars from individual sellers.
Buyers should check completed listings to verify fair pricing.
Selling Ohio Precious Metals Silver Bars
OPM silver bars face unique challenges in the resale market due to the company’s removal from LBMA certification in 2017.
Sellers typically receive lower premiums compared to other silver products, but multiple selling options remain available.
Where and How to Sell
Retail precious metals dealers represent the most accessible option for selling OPM silver bars.
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Get Your Free Starter GuideMost established dealers will purchase these bars despite the LBMA issues.
Local coin shops often accept OPM products for immediate cash transactions.
Online platforms provide additional selling opportunities.
Major bullion dealers like JM Bullion continue to handle OPM products, though at reduced premiums.
Private sales through online marketplaces remain viable for individual sellers.
Payment methods vary by dealer:
- Cash payments for in-person transactions
- Bank wire transfers for larger amounts
- Checks for mail-in sales
- PayPal or other electronic payments
Secondary refiners will purchase OPM bars when LBMA refiners won’t.
These refiners typically offer lower prices but provide liquidity for sellers who cannot find retail buyers.
Factors That Affect Resale Value
The primary factor impacting OPM silver bar resale value stems from LBMA refiners’ inability to repurchase them.
This creates a discount compared to bars from current LBMA-certified refiners.
Bar condition significantly affects pricing.
Damaged or heavily tarnished bars receive lower offers.
Original packaging and documentation can help maintain value.
Market demand for OPM products remains limited.
Dealers must sell to private refiners at reduced rates, which translates to lower purchase prices for sellers.
Size affects liquidity:
- 1 oz bars: Easiest to sell
- 10 oz bars: Moderate demand
- 100 oz bars: Limited buyer pool
Current silver spot prices influence base value, but OPM bars typically trade at larger discounts to spot compared to other brands.
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Get Your ChecklistComparing OPM Silver Bars with Other Silver Investments
OPM silver bars offer distinct advantages in premium costs and market recognition compared to other silver investment options. Silver bars generally trade closer to spot prices than coins, while OPM’s established reputation provides strong market acceptance.
Premiums and Value Over Spot Price
Silver bars typically carry lower premiums than silver coins because they require less complex manufacturing processes. OPM silver bars follow this pattern, trading closer to the actual silver spot price.
Silver coins often carry premiums of $3-5 per ounce above spot price. OPM silver bars usually trade with premiums of $1-3 per ounce, depending on size and market conditions.
Premium Comparison by Product Type:
| Investment Type | Typical Premium Over Spot |
|---|---|
| OPM Silver Bars | $1-3 per ounce |
| Government Silver Coins | $3-5 per ounce |
| Private Mint Rounds | $2-4 per ounce |
| Junk Silver Coins | $1-2 per ounce |
Larger OPM bars like 10-ounce and 100-ounce sizes carry even lower premiums per ounce. This makes them attractive for investors focused on acquiring maximum silver content.
Recognizability and Market Demand
OPM silver bars are readily available for purchase at coin shops worldwide and maintain strong market recognition. Their simple design and consistent quality help ensure easy resale.
Ohio Precious Metals was one of America’s largest silver bar manufacturers before operations ceased. This established reputation continues to support market demand for existing bars.
Market Recognition Factors:
- Simple, distinctive design with clear markings
- Consistent .999+ fine silver purity
Wide distribution through major dealers is another factor. No serial numbers are required for most sizes.
Government-issued silver coins typically offer the highest recognizability globally. However, OPM bars provide sufficient market acceptance for most investment purposes while maintaining lower premiums.
The bars’ lack of serial numbers provides additional privacy compared to some other silver investments. This feature appeals to investors seeking discretion in their precious metals holdings.
Storage, Protection, and Care Tips
Proper storage prevents tarnishing and maintains the value of OPM silver bars. Following specific handling and environmental controls protects these investments from damage and deterioration.
Best Practices for Safe Storage
Home Storage Options
Investors should use fireproof, tamper-proof safes anchored securely in hidden locations. Home safes require proper placement away from prying eyes and consistent environmental conditions.
Professional Storage Solutions
Bank safe deposit boxes provide multi-tiered security with 24/7 surveillance and biometric access. These facilities maintain climatic consistency to prevent tarnishing.
Dedicated precious metal storage facilities offer specialized care. They combine enhanced security systems with climate-controlled chambers and professional maintenance schedules.
Environmental Controls
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Compare Crash PerformanceStorage areas need stable temperatures between 65-70°F. Humidity levels should stay below 50% to prevent moisture damage.
Avoid basements and attics with temperature fluctuations. Use dehumidifiers or silica gel packets in storage containers to control moisture levels.
Preventing Tarnish and Damage
Proper Handling Techniques
Investors must wear soft, lint-free gloves when handling silver bars. Natural oils and acids from skin contact can compromise the bullion’s surface.
Use coin tongs, holders, and soft velvet mats for examination. Limit direct handling to reduce accidental damage risks.
Protection from Elements
Moisture poses the greatest threat to silver bars. Store bars in airtight containers with desiccant packets to absorb excess humidity.
Keep silver bars away from direct sunlight and UV rays. These can cause discoloration and surface degradation over time.
Packaging and Containers
OPM silver bars arrive in mint-sealed plastic packaging that provides initial protection. Maintain this original packaging when possible.
Use individual plastic flips or air-tight tubes for additional protection. Avoid PVC-containing materials that can cause chemical reactions with silver.
Frequently Asked Questions
OPM silver bars derive their value from current silver spot prices, weight, and purity levels. The company’s environmentally friendly production methods and quality standards have made these bars popular among investors and collectors.
What factors determine the value of OPM silver bars?
The value of OPM silver bars depends on several key factors. The current spot price of silver forms the foundation of their worth.
Weight plays a crucial role in determining value. OPM silver bars are available in 1 ounce, 10 ounce, 1 kilogram, and 100 ounce weights.
Purity affects the final value calculation. OPM silver bars contain .999+ fine silver content.
Market premiums above spot price also influence value. These premiums reflect manufacturing costs, dealer margins, and market demand.
How is the price of Ohio Precious Metals silver bars calculated?
The price calculation starts with the current silver spot price per troy ounce. This base price gets multiplied by the bar’s weight in troy ounces.
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Create My RMD PlanDealers then add a premium above the spot price. This premium covers refining costs, manufacturing expenses, and dealer profits.
The final price equals the silver content value plus the premium. Market conditions and supply levels can affect premium amounts.
What are the key features and quality ratings of OPM Metals silver bars?
OPM silver bars are 99.9% pure and are made from recycled silver. The company uses environmentally responsible production methods.
Every new OPM Silver Bar arrives in a mint sealed plastic package. This packaging helps protect the bars during storage and transport.
The bars feature the OPM logo and company name stamped on the front. Additional markings include weight in troy ounces and silver quality information.
The back of OPM Metals silver bars features the OPM logo in a repeating pattern. This design creates an attractive texture that appeals to collectors.
What are some notable historical events or controversies associated with Ohio Precious Metals?
Ohio Precious Metals was founded in 1974 and quickly established itself with a reputation for pursuing environmentally friendly precious metal refining techniques. The company started in a garage by precious metal enthusiasts.
Originally, the company secured precious metals by simply reclaiming metals stripped for telephone equipment and melted it down for resale as bullion bars. They also processed recycled jewelry in their early days.
In 2018, a major controversy emerged. OPM’s parent company, Elemetal, LLC, was involved in a major scandal involving three of the company’s Miami-based gold dealers, who were convicted of a massive money-laundering racket.
This resulted in the loss of many Ohio-based jobs and was a major blow to the company as a whole, who was ordered to pay the U.S. government $15 million as a criminal fine, while being under probation for five years as ruled by a federal judge.
What are the differences between a 10 oz OPM silver bar and a 1 Troy ounce OPM silver bar?
The most obvious difference is weight and size. A 10 oz bar contains ten times more silver than a 1 troy ounce bar.
Price differs significantly between the two sizes. The 10 oz bar costs approximately ten times more than the 1 oz bar based on silver content.
Premiums per ounce typically favor larger bars. The 10 oz bar usually carries a lower premium per ounce than the 1 oz bar.
Storage considerations vary between sizes. The 1 oz bars offer more flexibility for partial sales or trades.
How does the market price for silver affect the valuation of silver bars?
Silver spot price directly impacts OPM bar values. When spot prices rise, bar values increase proportionally.
Price volatility affects both buying and selling decisions. Investors monitor spot prices to time their purchases and sales.
Market conditions influence premium levels above spot price. High demand periods often result in higher premiums.
Daily price fluctuations create opportunities for traders. Long-term investors focus more on overall price trends than daily movements.
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