Johnson Matthey, often abbreviated as JM, is a legendary name in the world of precious metals, and their 100 oz silver bars are highly regarded by investors and collectors alike. Similar to Engelhard, they are considered a vintage or legacy brand, which significantly impacts their value and market perception.
History and Legacy
- Global Refiner: Johnson Matthey was a major international refiner and producer of precious metals for over 200 years, with a rich history dating back to 1817 in London. They were known for their high standards of purity and quality.
- End of an Era: In 2014, Johnson Matthey sold its gold and silver refining business to Asahi Refining, a Japanese company. This means that silver bars bearing the original “JM” hallmark are no longer being produced, making them “vintage bullion.”
- Continued Production (under license): While Johnson Matthey itself is no longer in the precious metals bullion business, some companies, like Sunshine Minting, Inc. (SMI), have been licensed to produce bars with the Johnson Matthey name. However, the original vintage bars from the 1970s and 80s are what collectors and investors truly seek out.
Characteristics of the Bars
- Purity: Most Johnson Matthey silver bars are stamped with a purity of .999 fine silver, meaning they contain 99.9% pure silver.
- Design: The design is typically straightforward, featuring the Johnson Matthey logo (often a diamond with crossed hammers), the weight (100 oz), and the purity (.999 fine). Many vintage bars also have a unique serial number stamped on them.
- Types: Like Engelhard, Johnson Matthey produced both poured (also known as “cast”) and extruded bars. The poured bars have a rustic, handcrafted appearance and are often more collectible. The extruded bars are more uniform and modern-looking.
Market Value and Appeal
- Premium over Spot: Johnson Matthey 100 oz silver bars almost always sell for a premium over the current silver spot price. This premium is due to their recognized brand, historical significance, and the fact that they are no longer in production.
- Liquidity: Despite being vintage, JM bars are highly liquid. They are widely recognized and trusted by dealers and investors, making them easy to buy and sell.
- Collector’s Item: The legacy status of JM bars makes them a favorite among collectors who appreciate the history and scarcity of these products. This collector demand can drive the premium even higher, especially for bars with rare hallmarks, special designs (like the Canadian maple leaf), or certain serial number runs.
Johnson Matthey vs. Engelhard
Both Johnson Matthey and Engelhard are considered the premier names in vintage silver bullion. They share many similarities, including their legacy status, high premiums, and wide appeal. Some collectors have a preference for one over the other, but both are excellent choices for those looking to invest in or collect historical silver bars. The choice often comes down to personal preference for the specific design, history, or appearance of the bars.
