Silver rounds are essentially the same as silver bars, except that rounds are shaped like a coin or a disc. And, just like most silver bullion items, silver rounds come with a purity of 99.9%. However, these have no seigniorage charge, which means they sell less than actual silver coins.
Despite often being mistaken as a coin, silver rounds are actually very different from silver coins. For one, most silver rounds are produced by private mints and refiners instead of the government, which means that silver coins are not considered as legal tenders. As a result, the production of most silver rounds are not covered by some national laws against counterfeits. But, even so, the production of fake silver bullion, including silver rounds, remains prohibited and considered a federal crime.
When it comes to silver rounds, designs are often well taken into consideration. Popular ones include Christmas and religious depictions, as well as patriotic themes and any commemoration of a significant event in history. You can also find promotional coins that feature a company logo or a date. Such silver rounds were minted around the 1960s and the 1970s – an era when silver was fairly cheap.
Today, an array of silver rounds circulate the market. Most of these rounds weigh one troy ounce and contain silver that boast a .999 fine purity.
Due to its close similarity to silver coins in terms of appearance, intentional deception in selling silver rounds became inevitable. Hence, amendment of the Hobby Protection Act in 2014 took place, which now mandates that the word “COPY” should be permanently marked on any imitation numismatic items that are manufactured or imported to the United States.
If you happen to have a silver round in your possession, consider selling it to Nevada Coin Mart. We can help you earn serious and instant cash using your silver rounds. Below is a list of the silver rounds we are looking for:
- Morgan Dollar
- Silver Buffalo
- Walking Liberty
- Screaming American Eagle
- Peace Dollar