How to Buy Silver Bullion Rounds

Posted on May 04, 2022

pile of silver rounds

Silver bullion is physical, high-purity silver, like coins, bars, ingots, and rounds. As a refresher, silver coins are legal currency produced by government mints that have a face value. The face value of silver coins makes them legal tender, but the face value assigned to the coins pales in comparison to the intrinsic or melt value of the silver. 

Silver bars are rectangular or ingot-shaped bullion that can be made by any refiner or mint and offer an affordable way to buy silver. 

Finally, silver rounds are bullion pieces shaped like coins but share much more in common with bars, like lower premiums over spot price and a lack of face value.

There are many different silver rounds available to purchase as well as many retailers, which can make it a challenge. To learn about all the silver round purchasing options, continue reading. 

What’s the difference between silver rounds and bars?

1 oz silver buffalo roundBefore discussing the ins and outs of purchasing silver rounds, let's compare them to silver bars first. They have a lot in common, and knowing their difference could help you make an informed purchasing decision. 

Silver rounds are very much like silver bars, but there are a couple of distinct differences. First, silver rounds are round in shape and look similar to coins (although, in the U.S. at least, laws prevent silver rounds from looking exactly like government-issued coinage). Second, silver rounds often bear decorative designs, whereas silver bars are most often stamped only with information about the weight and purity and the logo of the refiner or mint where it was made. 

There are two general kinds of silver rounds – bullion rounds, which are simply an investment in physical silver, and collectible or art rounds, which are sometimes sought after by individuals for their unique designs, aesthetic value, and collectibility. Silver art rounds tend to command a higher price than silver rounds with more traditional designs

Why choose rounds?

People who choose silver rounds will most likely do so because they want to buy silver without paying a hefty premium over the spot price for silver coins. Those who opt to purchase silver rounds may just prefer the round shape and feel of a coin or have an interest in the variety of design options and collectibility of these pieces. 

What are some popular silver rounds?

A few of the most popular silver round designs are: 

Some of the most reputable mints known for producing popular rounds include: 

Where can you buy silver bullion rounds?

Silver bullion rounds can sometimes be purchased in person at local coin shops and pawn shops, though most people nowadays prefer the convenience of buying silver bullion online. It’s easy to buy silver rounds online from bullion dealers, via online auction sites like eBay, or from private sellers (both of which you can become a victim of fraud if you buy from an untrustworthy seller). 

What else should you consider?

Before buying silver rounds, it’s important to consider several factors. First, investors in silver rounds (or any other physical bullion) should protect their investment with insurance. When buying online, that includes purchasing insurance coverage for shipping (if it’s not included in the sale).

Another critical consideration when buying silver rounds is storage. Where will the bullion be stored? In a home safe? At a precious metals depository? At a bank in a safe deposit box? These are all potential options, but buyers need to settle on a secure place to store their silver rounds before purchasing. (Learn more about silver storage options here.)

For anyone ordering silver rounds online, shipping and packaging are crucial components of the buying process. Some online dealers have free shipping, but if they don’t, the shipping cost should be factored into the overall price of the investment. Silver rounds should also be shipped properly, which means housing them in an appropriate container (like a protective tube or sleeve), and plain packaging to avoid attracting attention to the valuable contents inside. 

How do you choose?

Choosing the right bullion can seem like a daunting task; fortunately, buyers can simplify it by breaking down the decision into a five-step process. 

  1. Decide which round best fits your needs (bullion rounds vs. art rounds, size, design)
  2. Shop for price and availability
  3. Find a reputable seller or dealer (look online for customer reviews and ratings)
  4. Decide on shipping options (check for free shipping, make sure the bullion will arrive in a protective container with discreet packaging)
  5. Store and insure your new bullion (always keep your bullion in its original packaging to preserve its condition and value)

When you’re ready to buy silver rounds from one of the most trusted and reputable online dealers, get started here.