Practical aspect of 1000 Oz bars

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#1 Mon, Jul 27, 2020 - 10:23pm
Joined: Jul 22, 2020

Practical aspect of 1000 Oz bars

Newbie here: I am considering a 1,000 Oz bar from a local, long-time, reputable source that is recommended by other silver holders I know. The price appears to be reasonable, much lower than 10x the 100 Oz bar rate.

What are the practical considerations of holding such a bar? Other than the simple size and storage issues, what should I consider as obstacles to redeem/trade/resale such a bar in the future? Is the market solely resale/trade back at the retail level? I see some websites offer purchasing: do you all have good/bad experiences? Are there other avenues direct to (smaller) financial institutions that may seek some physical holdings in the future? What should I expect from a prospective buyer at the time of resale? Will they test the bar to establish purity, etc?

I started silver in 2015 and presently have a nice little inventory, but no "big bar."