Silver bullion rounds are normally produced in weights of 1 oz. and smaller rather than silver bullion bars which come in varied weights starting at 5 oz. and going upwards of 1,000 oz. Silver rounds look much like a silver coin, but are only produced by private mints—not government mints. They can be plain pieces of silver with only the name of the mint engraved on one side, or can be more elaborately decorated with artwork related to military subjects, religious history, commemorative designs with animals, presidents, movie stars, musicians, cartoon figures, and many other designs. Silver rounds can be stacked in rolls like coins, which makes them convenient to handle.
Silver rounds have a purity of 99.9% silver alloy and because they are not government issued, have no legal tender worth. Their value is in the silver content only. They can be generic minted or produced by companies such as Engelhard who produced the 1 oz. Engelhard Silver Prospectors silver round. This round has not been produced since 1988 and is hard to find. Coin dealers who offer this round will be asking a high premium.
Where Should You Buy Silver Rounds?
Great deals on silver can be located with online dealers and they are easily found at a lower premium. Their price is not much over the spot price of silver on any given day due to the fact there is no intrinsic value for these items. Collectors or investors looking to add diversified assets to their portfolio can buy these rounds for a good price and add value to their collection. Still, silver rounds aren’t the most popular item for investors, and not every precious metal dealer offers them for sale.
Remember when buying these silver rounds online or from a local dealer, the same holds true for both: do your homework and be sure the dealer is reputable. Being that silver rounds are more likely to be generically produced, there is a higher chance they may be counterfeit. Several online dealers that offer good prices on silver rounds are: Provident Metals, www.providentmetals.com, Littleton Coin Company, www.littletoncoin.com, Lynn Coins, www.lynncoins.com, and BargainBullion.com, www.bargainbullion.com.
Larger dealers that sell silver rounds include: Sunshine Minting, www.sunshinemint.com, the Tulving Company, www.tulving.com, and CMI Gold and Silver, www.silvercoinguide.com. Markup for silver rounds is rarely higher than 11-12% and is very easy to sell when the spot price of silver rises.
There is a silver round called a Stagecoach silver round and is scored on the back with two lines creating four equal quarters the round can be split into if needed. This allows much flexibility and makes this silver round almost as popular as the American Silver Eagle when trading, yet still costs less die to being privately minted. When purchasing these rounds, be sure and have the current silver spot price in mind and you can negotiate the price unlike the American Silver Eagles that are subject to higher premiums and limited minting.
Buying silver rounds depends on your choice of silver bullion to invest in. Local shops may have these readily available and online dealers can be limited to certain businesses as mentioned in this article. Silver rounds are an investment that will never lose its value.