Once you start researching silver investing, the term “Silver rounds” quickly comes up…but what are they?
Silver Rounds are basically a form of silver coin.
To improve the ease with which bullion can be handled, some suppliers form the metal into “rounds” which are easier to stack.
However there are two issues:
Firstly, some rounds are minted in sizes which greatly exceed the public’s knowledge of what a “coin” is -hence why it’s easier to refer to them as a “round”.
An example is the wonderful Australian Kookaburra. This silver round features bird emblems and the design changes every year, to keep collectors interested. This round is available in sizes up to 1kg! As you can imagine, if you are talking to a member of the general public about a 1kg coin, they are likely to look a bit perplexed- hence it’s easier to refer to these bullion pieces as “silver rounds”.
Now, the second point about rounds: Whilst all rounds have been minted, they are not necessarily minted by an established (i.e. well known) mint. Some 1 oz silver rounds are produced by mints which are not nationally or internationally recognized.
There are many examples of private (i.e. nongovernmental) mints producing exceptional work- but there are also some other examples of mints producing rounds of dubious quality.
Examples proliferate on eBay. Often they come from developing countries and sometimes closer to home- so take great care. If you decide to invest in silver bullion, rounds are a great place to begin.
I would recommend purchasing products produced by the establish, reputable mints e.g. US Mint, Royal Canadian Mint, Royal Mint etc, and buying their output in the secondary market, from coin & bullion dealers, rather than directly from the mint itself. This will give you the best chance of getting a silver round which is actually what you expected & at a good price.