Where do silver rounds rate?

Whomeyeahyou

Boy, the things kids lose from their parents' coin collections. I eyeballed this over the summer sticking out of the sand when I took the kids to play at the local playground: A 2000 Walking Liberty "the dawn of a new millennium" 1-ounce silver round, nestled nicely in a plastic flap holder. There's a few small hairlines on the reverse, but other than that, it's in nice BU shape ... and it's developed some really pretty rainbow toning in the field next to the rim on the obverse side, and some in the field near the rim on the reverse.

In terms of value (other than bullion value) and desireability among coin collectors, do modern silver rounds even rate?

Outhaul

Welcome to the boards.

The answer to your question lies within yourself. Personally, I see bullion as bullion whether in silver/gold American Eagles or any other form and I'm often barbecued on this forum for that opinion At the same time, there are people who collect silver rounds from various manufacturers. Any hobby is all in what you like. So while I look at these things as spot price, others view them as extremely collectable. That is what makes the hobby world go 'round

Cheers,

Bob

Cam40

Nice find.
How do they rate?
Well it may be a silver round but its a government issue silver round.Thats what gives the SAE and GAE value over melt.They grade and trade just like all other US coins.After all.its REAL money.lol

itsnotjustme

Silver rounds are not coins.... what you describe sounds like a knock off of the American Eagle ($1 US Goverment Bullion Coin). Many--dare I say most?-- coin collectors frown on silver rounds. They are not coins.

FoundingFather

Silver rounds, generally speaking, are more just fancy bullion than actual coins. The grey area comes from the fact that they are a small and portable money equivalent, able to be spent if you will, just like coins. No one would be surprised that many people consider them coins or a legitimate part of a coin collection. However, I believe if you took an objective birds-eye view of all money collectibles, and were told to categorize, you would place silver rounds in the category that you refer to them as -- rounds of silver. Decorative, collectible, round silver bullion.

relayer

Silver rounds are worth less then the spot price because their purity is unknown.

Only buy Silver American Eagles issued from the US Mint, or known branded bars (i.e. Englehard, Monex, etc.)

FoundingFather

Granted I haven't bee observing these for long, but I don't see reputable silver rounds trading at below spot price -- they have a small premium over spot from what I have seen.

itsnotjustme

FF - your line

<< <i>able to be spent if you will, just like coins. >>

has me puzzled. I have enough of a hard time spending Sacs, SBAs, and $2 Bills. I can just imagine trying to spend a silver round! What value does it get accepted at?

FoundingFather

I don't mean easily spent today at a store for a container of milk and some bread, I meant spendable as in liquid, tradable, and based upon a metal that has been a basis of money for eons. It can get you goods, just like coins -- it is a form of money because it is a time proven store of value -- that is why survivalists like them, as well as other convenient, spendable-sized bullion. I should have been more specific, I meant it is a small, portable, round, container of wealth made of silver, able to be traded (spent) for goods, just like so many coins. Unlike today's money which is based upon the promises of Governments, this "money" is based upon a long-standing unit of wealth and value, a precious metal. Coins such as "Eagles" are considered "better" because they happen to have that Government promise behind it, which makes it more marketable, usable, spendable, and identifiable as a certain amount of money in a certain country ... turning bullion into an "official" coin.

Bottom line: silver rounds are not truly coins because of the lack of Government backing as currency -- but they can still be considered a form of money, thus the grey area.

"What value does it get accepted at?"

A little above spot.

MacCoin

what you have is a $6.00 1 oz fancy bullion, kind of like the buff silver or the holiday rounds. my favorite is the 1804 proof dollar.

oh yes Welcome to the board

wayneme

From what i seen silver rounds will trade to the market depending on the name englehart, johnson ,sunshine mine , they all will trade at or a little over market price
you can check e-bay for the currant feelings on your type of round

MacCoin

the dawn of a new millennium round isn't a gov bullion. it just a millennium round

MrKelso

There are people that collect these round silver bullion pieces and the bar types for there artwork. Like the cristmas types and other holiday types.

g097103

I have to admit to having about 500 silver rounds. They are all englehart and I consider them what they are which
is .999 bullion. They are not coins, but a speculative investment in the price of silver. They are pretty shiny things
that I use to play with toning and dipping.

FoundingFather

"I have to admit to having about 500 silver rounds."

Have to admit? Are you ashamed?

g097103

Nope, but this is a coin forum. They sure take up a lot of room compared to ingots.

FoundingFather

Scott, do ingots actually contain more silver than rounds per square inch? I didn't think so since they are both (generally) .999 fine.

g097103

Cylinders and the white plastic tubes have wasted volume when you stack and store as compared to nice clean
sawn rectangular ingots. Molded ingots with beveled sides can have the same problem if you don't alternate the
stacking, this of course assumes the bevels are the same on all the ingots. Maybe I just need to dig a big hole in
the back yard and leave the safe for coins.

FoundingFather

Ah, gotchya. Nice tip, thanks. Scott, I might love you.