Silver Rounds are silver coins which have been struck by private mints. There are many private mints or manufacturers of silver coins. Such private companies as the Northwest Territorial Mint, Sunshine Silver, The Phoenix Dollar to name but a few, manufacture silver coins and even bars of silver.
Silver rounds are silver coins but have no status as legal tender. Basically they are pieces of silver in coin form. Rounds can be ordered from such mints and even from dealers of course.
The word round was ‘coined’ simply because the silver metal was formed into coins and could be stacked in ‘rolls’ for easy handling and transport. So wherever you see the word 'rounds' bandied about, you can take it to mean coins privately minted.
Silver rounds come in all sizes from less than one ounce to ten kilos and over. The one ounce coin contains one ounce of pure silver and an occasionally alloy, usually copper, to give it more durability. The silver content is usually refined to a purity of 99.9 percent or more.
Probably the biggest advantage of buying silver rounds over the traditional silver coin is the price. The well known and popular coins with numismatics and coin collectors such as the American Silver Eagle, Canadian Silver Maple, Morgans and such like carry a heavy premium. The cost of purchase of these coins can be over twice the value of the silver content. Then there is packaging in a pretty container, shipping, insurance etc. It all adds up and makes it very difficult for the investor to recoup the cost. But silver rounds are a different story. For investors, they are probably the best way to purchase silver coins as far as silver investors go since they are produced in one ounce pure silver coins, can be easily traded and most importantly, have the lowest premium above spot price.
A good example of a silver round is the Pan American Silver bullion coin. Available through the Northwest Territorial Mint, Pan American 1 ounce Silver Rounds are minted from .999 fine silver. They feature the well known silver hammer logo of Pan American Silver on the obverse and a classic miner drilling for silver ore on the reverse.
Another example is the Northwest Territorial Mint own private label 1 ounce Silver Rounds. These are minted from .999 fine silver and feature a set of scales on the obverse and an eagle on the reverse.
The Phoenix Dollar is another one ounce coin available to silver enthusiasts. The Phoenix Dollars is a physical one ounce Silver Dollar .999 fine, and comes with a reeded edge security feature to deter physical debasement. The Phoenix Dollar is weight denominated and, like all silver rounds, the price fluctuates based on the market rate of silver.
There are many silver rounds to be found and with the price of silver on a steady increase to buy silver rounds is probably an ideal strategy for any investment.