Silver Coins - What Is the Difference Between Silver Coins, Rounds, and Numismatic Pieces?
While quite popular in the common market, owning coins and rounds is a costly way to invest in silver. Through our selection of investment-grade silver, OneGold provides an alternative method of trading and owning silver through digital means via a simple and intuitive platform.
Rounds vs. Coins and Numismatic Pieces
At a glance, silver rounds resemble silver coins, but you need to consider several differences. Silver rounds are usually produced by private companies and some government mints. They are discs of silver bullion that have been pressed with a logo, often with their weight and fineness labeled for simple identification. They are not recognized as legal tender. Because of their availability and unofficial status, rounds often cost somewhat closer to wholesale prices than do coins.
Silver coins carry official markings, including their mint year and face value, which is normally lower than their bullion or melted value. Bullion coins will normally command a premium over spot price, reflecting their year of production and designs.
Numismatic coins are collectibles, and due to their rarity, allure, or noteworthiness, they are usually priced well above their bullion value.
Silver Round and Coin Weights
One troy ounce is the most common way to measure coins and rounds, but some smaller weights are produced (such as tenth, quarter, or half-ounce). One of the largest produced silver coins came from Australia's Perth Mint, a 22-pound silver coin with a $300 face value.
Popular Silver Coins
For comparison purposes, 1 troy ounce equals 31.104 grams.
Silver Spreads and Commissions
Since silver coins carry production and supply-chain costs, their retail price is over and above wholesale prices. Market prices for silver can be volatile, which means retail traders often charge wide spreads, reducing their risk and guaranteeing them a profit. Traders also raise their prices because silver is less expensive than gold. Buyers usually invest less money in silver, so traders mark up their prices to 5 or 10 percent above bullion value.
You can check on silver pricing on the OneGold live silver price chart. This table allows users to check the current silver market price and compare it with the price offered by traders.
Silver Sales Tax
Depending on location, individuals may pay sales tax on their silver coins and rounds.
No minimum storage period and no penalty for cashing out. OneGold charges below the industry average for silver storage, at only 0.12 percent of the value. Investing in silver through OneGold is one of the safest and most secure ways to trade in silver. You don't need to arrange security or insurance for silver investments.
How to Start Silver Investing with OneGold
With a deep understanding of precious metals unmatched in any competing partnership, APMEX and Sprott came together with a shared vision for the evolution of precious metals ownership. OneGold is the result of the knowledge, experience, and resources of these two globally recognized partners.
- Create a Free Account at OneGold.com
- Choose between our selection of investment-grade precious metals.
- Low premiums & tight spreads.
- Purchase using Bitcoin, Check, Credit Card or connect your Bank Account.
- No need to wait on funds clearing, you can “Buy Now, Pay Later”.
- Fully allocated and segregated investment grade precious metals.
- Annual storage fees are Silver .30% & Gold .12%
A guide to investing in gold.
A guide to investing in silver.
A guide to investing in platinum.