A silver ingot is a solid piece of silver that has been melted and cast into a specific shape, usually rectangular. These ingots are often used as a form of investment or as a means of storing wealth. The purity of silver in an ingot is typically measured in terms of fineness, with .999 being the highest standard, indicating 99.9% pure silver. Silver ingots are commonly produced by mining companies and precious metal refiners. They can be traded on various markets and are often sought after by collectors and investors. The value of a silver ingot fluctuates based on the current market price of silver, which is influenced by factors such as supply, demand, and economic conditions.