Johnson Matthey silver bars and Engelhard bars are the two vintage refiner names that carry real collector premiums over melt. Both companies are gone from the bullion business — Johnson Matthey sold its refining division in 2015 and Engelhard wound down decades earlier — so every genuine bar is a fixed-supply artifact of the classic American silver market.
Johnson Matthey: The Crossed Hammers
Johnson Matthey, founded in London in 1817, refined precious metals for two centuries, and its North American plants (including Salt Lake City) produced the silver bars American stackers know best: 1 oz, 10 oz, and 100 oz bars stamped with the JM name, the crossed pick-and-hammer logo, “FINE SILVER 999,” and an individual serial number. The 10 oz bar in this page’s header is the classic format. When Johnson Matthey sold its gold and silver refining business to Asahi Refining in 2015, the JM name left the bullion market — Asahi now produces bars in the same plants, but a bar stamped Johnson Matthey is by definition a vintage bar, and the market prices it that way.
What to look for: the common pressed 1 oz and 10 oz bars trade at a modest premium over generic bars; the scarcer variations — poured bars, the older extruded 10 oz style, consecutive serial runs, and the Canadian-produced JM bars — trade higher. Serial numbers matter: a clear, correct-format serial is part of the bar’s identity, and specialists record them.
Engelhard Bars: Poured, Extruded, and Pressed
Engelhard was the largest precious-metals refiner in America, and its bars come in three families. Poured bars were cast in molds, with the slightly irregular surfaces and stamped (sometimes hand-stamped) markings that collectors prize most. Extruded bars were rolled and cut, giving the clean, uniform 10 oz and 100 oz bars of the 1980s. Pressed or minted bars are the familiar sealed-format 1 oz pieces. Sizes run from 1 gram and 1 oz up through 5 oz, 10 oz, and the big 100 oz pours. Engelhard’s retail bullion production ended as the company exited the business through the 1990s, and like the Engelhard Prospector rounds, the bars trade on fixed supply plus the strongest name in vintage American refining.
Why Are Engelhard Bars Worth More?
It is the question every holder asks, and the answer is the same three-part logic as the rounds: production ended decades ago, the hallmark is trusted worldwide without an assay, and collectors compete with stackers for the same shrinking pool. A poured Engelhard 10 oz bar is not just ten ounces of silver; it is a documented piece of the 1970s–80s hard-money era, and the premium over melt reflects that. Johnson Matthey bars follow the same pattern at a slightly gentler premium, with the rarest JM variations closing the gap.
Checking a Vintage Bar Before You Buy
Both names are counterfeited, so run the sequence: weigh the bar (a 10 oz bar is 311.0 grams), check dimensions against known examples, confirm the bar does not stick to a magnet, and compare the serial format and hallmark details to reference photos — vintage JM and Engelhard dies have specific lettering that copies usually get subtly wrong. Buy from a dealer who guarantees authenticity and buys back what they sell. For modern bars, where brand choice works differently, see our gold and silver bar brands ranking; for a modern security-featured alternative, the Geiger silver bars guide.
Frequently Asked Questions
Does Johnson Matthey still make silver bars?
No. Johnson Matthey sold its gold and silver refining business to Asahi Refining in 2015. Bars stamped Johnson Matthey are all vintage production, which is the foundation of their premium.
Are Engelhard bars a good investment?
They hold value the way quality vintage bullion does: the silver content tracks spot, and the collector premium has historically been durable because supply only shrinks. They are less liquid at full premium than a current-production bar, so the premium is best captured selling to a dealer or collector who handles vintage material.
What sizes did Engelhard and Johnson Matthey bars come in?
Both produced 1 oz, 10 oz, and 100 oz silver bars as the core line, with Engelhard also known for 5 oz bars and poured kilos, and Johnson Matthey for kilo bars. The 10 oz format is the most collected for both names.
How can I tell if a vintage bar is real?
Weight, dimensions, non-magnetic response, and hallmark/serial details checked against known examples — in that order. When the premium is significant, buy from a dealer who tests and guarantees the bar.
In stock now: the 10 oz Johnson Matthey bar, the 1 oz Johnson Matthey bar, and Engelhard bars including the 1 oz Engelhard bar and 100 oz poured Engelhard.