They're roughly the same size and weight as silver bullion coins and can have similar designs. Some common reasons that rounds get confused for coins are:. If you stopped someone on the street and asked them "What is a silver round? It's no wonder that someone first looking to buy silver bullion is confused as well. Both silver bullion coins and silver rounds have their weight and purity stamped on them.
Modern silver bullion coins will always have their weight and purity stamped on them. Silver rounds will as well. To keep from being confused, remember: "No denomination means it's not a coin. Silver rounds can have designs that look like old coins. No one would confuse a 1 oz "Buffalo Nickel design" silver round with a real buffalo nickel.
Likewise, a "Mercury Dime design" silver round will never be confused for the real thing, either. Silver rounds are similar in size to old silver dollars. Silver rounds are close enough in size to old silver dollars that people might confuse the two. This is why all silver rounds must have the word COPY stamped on them. Still, dishonest sellers used to hide the word COPY in the design to fool uneducated buyers.
The reverses of the Walking Liberty design and Mercury dime design one oz. When shopping for silver, the quickest and easiest way to tell the difference between a silver coin and a silver round is to look for a denomination. There are so many great gold and silver coin designs available from multiple well known mints. Gold and silver coins have legal tender and will always hold their face value. Some coins have a unique design each year making them great for collecting.
They usually cost more than the spot price due to this. Typical sizes of coins are 1 oz. The dimensions can vary from one design to another, so you only stack coins of the same design. Each coin has an obverse front of coin and reverse back of coin. All coins display the weight, purity, face value and year somewhere on them. Benefits of Coins. Rounds are a great way to buy gold and silver online.
Rounds are essentially round discs of metal with a nice design stamped into them. They are similar to buying gold or silver bars. It is illegal for silver rounds to have a denomination printed on them. Silver rounds can be minted at any private mint, whereas silver coins must be minted at an official government-operated mint.
This difference is huge when considering whether a coin is pure silver. Coins minted by the government are guaranteed to have a certain silver quality and quantity, whereas private mints are not backed by the government, although their silver quality and quantity are likely just as good! The prices of silver rounds is purely dependent on the current spot price of silver. The value of silver coins, however, also factors in the rarity of the coin, as well as its condition.
Private mints are privately owned and can produce rounds or bars with their own designs and metal content. Their products are not designed for circulation and can make great investment pieces since their value derives directly from their precious metal content. Since private mints are not under government jurisdiction, there are few limits as to the designs or sizes. Private mints can design and produce coins based on customer interest and specific topics or series.
However, private mints cannot produce a coin with the exact size or weight specifications of a sovereign mint issued coin, regardless of design or metal composition. As stated, sometimes rounds are produced with the intent to replicate historic or popular coin issues. In this case, rounds are printed with specific markings to differentiate them from the coins they are modeled after. When it comes to investment opportunities, both coins and rounds provide value.
Coins tend to feature more intricate designs and carry their assigned face value. Rounds, while they are not minted coinage with face values, do offer high precious metal content and lower premiums as compared to coins. Whether you choose to invest in coins or rounds, Provident Metals has what you are looking for. Browse our Gold and Silver coin collection, or shop for Silver Rounds produced by our private mint to find your next investment piece. Subscribe to our newsletter to receive exclusive discounts and industry news.
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