Silver Rounds
The primary difference between silver rounds and silver coins is legal tender status. Coins are legal tender, which means they have a face value or denomination. Thus coins are money. Rounds are not legal tender, and are generally made by private manufacturers.
Silver Rounds
When you first look seriously at purchasing silver bullion, it's easy to get confused. Silver bars are pretty easy to understand. Silver bullion coins also make sense, once you get used to the idea that the face value on the coin has nothing to do with its actual worth. But when it comes to silver rounds, it's easy for the new silver investor to get confused.
Think of silver rounds as disk-shaped silver bars. You can also think of them as modern versions of silver medals. By the end of this article, you will be familiar with both silver coins and silver rounds, and be able to easily tell the difference.
Silver Round Prices. Virtually all.999 silver round prices are driven by the world’s fluctuating spot silver price. At times of silver bullion shortages, silver round premiums have and can escalate well above the silver spot price (e.g. Silver bullion shortage which occurred during the 2008 Financial Crisis).
- Silver Round Prices. Virtually all.999 silver round prices are driven by the world’s fluctuating spot silver price. At times of silver bullion shortages, silver round premiums have and can escalate well above the silver spot price (e.g. Silver bullion shortage which occurred during the 2008 Financial Crisis).
- Silver Rounds by Brand. APMEX guarantees you will receive only.999 fine Silver rounds. We carry a diverse mix of Silver rounds from numerous manufacturers such as APMEX, Sunshine Minting, Golden State Mint, Engelhard, Johnson Matthey, and other popular manufacturers of comparable quality. All are hallmark-stamped from their issuer, indicating the exact purity of the Silver.
- 1 oz Silver Rounds. Unsurprisingly, in the world of silver collecting, bullion bars tend to be more sought after than their round counterparts. However, the quality and collect-ability of 1 oz silver rounds compared to silver bullion bars is exactly the same.
Coins Compared To Silver Rounds
COINS
- Coins can only be issued by a national government.
- Coins carry the name of the government that issued them.
- Coin designs have to be approved by the government.
- Coins carry a date.
- Coins carry a denomination.
- Coins are legal tender.
- The weight and purity of bullion coins are backed by the government.
- Prices of coins are higher than that of rounds.
- Production of fake coins are prosecuted under anti-counterfeiting laws.
Highlighting characteristics of a coin on an American Silver Eagle bullion coin (Gainesville Coins photo)
ROUNDS
- Rounds are not issued by a government.*
- Usually, only 'Classic Design' silver rounds carry the name of a nation.
- Rounds can carry any design the maker wants (subject to copyright law).
- Most rounds do not carry a date.
- Rounds can never display a denomination.
- Rounds are not legal tender.
- The weight and purity of silver rounds is backed by the reputation of the dealer.
- Bullion rounds are cheaper than coins.
- Production of fake rounds are prosecuted as fraud.
*Government-issued 'rounds' are called medals or medallions, and are usually thicker and smaller than silver rounds. Medals do not carry a denomination, and are not legal tender.
a one troy oz 'Morgan design' silver round, showing typical characteristics (Gainesville Coins photo)
Pros and Cons: Silver Rounds vs Silver Coins
Distinguishing between rounds and coins serves a practical purpose. Although similar, there is enough difference to create trade-offs between these two forms of silver bullion.
PROS
Cheapest Silver Rounds For Sale
- Usually, rounds carry a lower premium than coins of the same weight and purity.
- Rounds can feature any design or theme.
- Rounds are typically easier to find for sale.
CONS
- Rounds often have lower production quality than coins.
- Rounds are not backed by the full faith and credit of any government.
- Most rounds are not collectible.
Why Do Silver Rounds Get Confused With Coins?
It's no surprise that many people get confused when first encountering silver rounds. 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:
'Rounds' is an unfamiliar term to the general public. If you stopped someone on the street and asked them 'What is a silver round?', they'd have no idea. 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. But...
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.
a Morgan silver dollar coin, next to a 1 troy oz Morgan Design silver round (Gainesville Coins photo)
To combat this, Congress passed the Collectible Coin Protection Act in December 2014. This law amended the Hobby Protection Act to mandate all silver rounds be prominently and clearly marked COPY.
The reverses of the Walking Liberty design and Mercury dime design one oz .999 fine silver rounds, with the required COPY stamp highlighted (Gainesville Coins photo)
Be A Smart Silver Buyer
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. No denomination = not a coin. Remember also, that a COPY stamp means it is a silver round, not a coin. Always keep in mind, that if a price on a 'coin' looks too good to be true, it's probably a silver round (or a fake!).
If you want to be 100% sure that what you're buying is what you think you're buying, you should buy your silver from Gainesville Coins! In addition to more than four decades of experience in the business, we are an Authorized Purchaser for many prestigious mints around the world. Our customers trust us thanks to our reputation for honesty and customer service.
We keep silver rounds and silver coins are in completely different categories. If you're still confused, call one of our floor traders. Our traders do not work on commission. There is no pressure, and no trying to up-sell you to a more expensive alternative.
Below you'll find a few of our best-selling silver rounds. For more to choose from, view our silver rounds category.
1 oz Silver Rounds
Unsurprisingly, in the world of silver collecting, bullion bars tend to be more sought after than their round counterparts. However, the quality and collect-ability of 1 oz silver rounds compared to silver bullion bars is exactly the same. SilverTowne is well known for several of our silver rounds including our bestselling American Buffalo Replica (available in 1 and 5 oz silver pieces) with all the look and feel of a government made legal tender coin without the extra premium.
Just like 1 oz silver bars, 1 oz silver rounds are small in size, widely available and extremely affordable. Another like perk to purchasing silver bullion rounds is the large variety of designs available to pick from. Here at SilverTowne, the majority of silver bullion items offered are actually designed and produced at our own mint! From our newer line of stackable rounds to our wide selection of coin replica and special occasion themed 1 oz silver rounds you are sure to find the perfect design to add to your collection at SilverTowne!
1 Troy Ounce Silver Round Pricing
SilverTowne wants to ensure that all of our customers are getting the 'best bang for their buck'! That is why all of our bullion pricing is updated real-time to move with the spot market. The spot market is a public financial market that tracks the immediate going rate for different commodities, such as precious metals, at any given time. All primary bullion items sold by SilverTowne are priced in correspondence with the current spot market rice at the time of purchase. We also offer volume discounts on several of our most popular pieces, take advantage of our bulk silver deals now!
Buy 1 oz Silver Rounds Direct from the Mint Quality Guaranteed
All .999 fine silver rounds for sale at SilverTowne are 100% quality guaranteed! With high quality standards and a lasting industry reputation, SilverTowne has been your trusted coin and bullion dealer since 1949 and has been manufacturing our own silver rounds and silver bullion bars since 1973.