Silver Rounds vs Coins

Discussion in 'Financial Cents' started by T. Riley, Aug 9, 2016.

  1. T. Riley

    T. Riley Monkey+++

    Right now from JM Bullion I can buy 71.5 ounces of silver rounds for $21.00 an ounce, $1,501.53 or a bag of 90% ($100 face, dimes or quarters) containing then same “approximate” ounces of silver for $1,573.56, a dollar an ounce more.

    My question is; why would I buy the coins?

    It would seem to me that post SHTF when, and if, PM's were the medium of exchange, a transaction would be much simpler with the rounds, both for the buyer and seller. Each of the coins would have to be examined for date and wear and a determination made about its value.

    What am I missing? Would coins be more acceptable in a transaction for some reason?
  2. Ganado

    Ganado Monkey+++

    Some things to consider
    1) coins are recognizable by most people
    2) you can shave the silver rounds pretty easily and make more silver so trading silver rounds uou need a non digital scale if you are considering rounds
    oldman11, Zimmy, Motomom34 and 3 others like this.
  3. arleigh

    arleigh Goophy monkey

    I might be more inclined to receive one oz bars more readily but still put them to the test.
    oldman11 likes this.
  4. T. Riley

    T. Riley Monkey+++

    That is the same reason coins have serrated edges and rims. The rounds do not have serrated edges but do have rims. Many old coins are so wore both are missing. I do understand the recognizable issue. I would think that shaving would be a much larger issue with gold than silver.
  5. T. Riley

    T. Riley Monkey+++

    Test how? Every bar?
    oldman11 likes this.
  6. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    I think @Ganado is spot on. If you are truly purchasing this silver to use for trade/exchange then probably the coins would be the way to go. I would imagine that if rounds or bars or even nuggets or dust were used then an office of exchange would have to be where there were weigh and confirmed, something like the old Wild West days. Many a miner carried his gold his nuggets or dust in a leather pouches but he exchange it for currency (backed by gold standard) in order to trade and purchase supplies.
    Anyway, my humble opinion...
  7. Ganado

    Ganado Monkey+++

    I don't recommend one or the other, just saying there are other considerations if you go with rounds or even bars. A good set of scales keeps people honest
    oldman11, Shotgunpapa and T. Riley like this.
  8. chimo

    chimo the few, the proud, the jarhead monkey crowd

    I have both rounds and coins, but I have no illusions of which will be easier to trade or barter...the coins. In a SHTF or bad economy situation you won't always be doing business with people who understand PMs. The normal joe or joan is more likely to accept a silver eagle, for example, as real silver as compared to a round from the Sunshine Mint, for example,that sounds and even looks sketchy if you don't know better.

    Gold, on the other hand, might be less dependent upon its form to be accepted.
  9. T. Riley

    T. Riley Monkey+++

    I would think that most people have seen neither. I am 66, spent 33 years in the banking business and have never seen a Silver Eagle except in coin shops. Will we still be relying on a failed government to assume it's value?
  10. chimo

    chimo the few, the proud, the jarhead monkey crowd you rely on government now to tell you the value of an ounce of silver? If you do, YOU'RE DOING IT WRONG! :D

    The market will decide what silver is worth when it comes time for me to do business with silver...and those markets (made up of mostly normal non-financial folks like me) are more apt to recognize a coin minted by some government they are familiar with as real silver than some round that looks like it came from a game of Monopoly. IMO of course.
    Zimmy and AD1 like this.
  11. T. Riley

    T. Riley Monkey+++

    liberty. walking. I think there will be a lot of confusion. One's a round, one a coin.





    Shotgunpapa, Salted Weapon and Ganado like this.
  12. techsar

    techsar Monkey+++

    ..and, since you picture a Panda, many are not aware of how much counterfeiting there is - and some are pretty darned close to the originals! Having said that, I would lean towards the more common coins (US dimes, quarters, halves and dollars) for the purpose originally stated. Even some of the commemorative coins are better IMHO than some of the more obscure coins, just for the sake of recognition.
    Just my $0.02 :)
  13. Dunerunner

    Dunerunner Brewery Monkey Moderator

    Coins have intrinsic value beyond the value of the precious metal they are struck from. This is great for the collector, but as a tool for barter; you will sacrifice that amount of investment money in place of the going rate per ounce of the metal being traded.

    T. Riley and VisuTrac like this.
  14. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I never buy based on numismatic values. It's metal content only.
    If I happen upon a coin with numismatic interest ... off to fleabay it goes. Then proceeds used to buy 'Junk silver'.

    If SHTF hits .. yeah, just because there are only 10 known to still exist .. I'm only going to give you melt value for it in FRNs or trade.
    Dunerunner, T. Riley and Ganado like this.
  15. techsar

    techsar Monkey+++

    Exactly, VT! Betting on numismatics to hold their value is a fool's errand. I know there are a few that are bound to appreciate (barring a financial meltdown), but 7-digit purchases are a bit out of the budget right now [winkthumb]
    Oftentimes a "plain Jane" silver coin can be purchased for much less than its melt value, especially if you go to flea markets and so-called "antique" shops :)
  16. T. Riley

    T. Riley Monkey+++

    After reading all bits of wisdom presented here my next purchase will be coin. Diversity, except in letting people across our borders so they will vote for democrats, is not a bad thing.

    One last question; 40% or 90%?
    Ganado likes this.
  17. AD1

    AD1 Monkey+++

    If you have purchased some silver and can’t get rid of that little voice in your head that keeps saying what if they are fake silver coins …

    Below are 14 ways on how to spot fake silver eagles, bars, and bullion. We’ve ranked them from the least to the most effective methods in detecting counterfeits. (Most of these tests can also be applied to gold as well).
    Read more here
    Fake Silver Coins: 14 Ways to Spot Counterfeits - Silver Coins
    Motomom34, Ganado and Dunerunner like this.
  18. Dunerunner

    Dunerunner Brewery Monkey Moderator

    Coinage?? The 90% stuff is going to be pricy, and the 40% stuff isn't going to trade well. I guess I'm in the 99% ballpark with silver eagles or some other silver rounds over coinage. Think about the amount of work necessary to bring your trade up to what is considered standard.

    on the other hand they are known values... So, I'd stick with the 40% coins out of the dealers cull box at melt or lower.
  19. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Only those in the know are familiar with post 64 coinage containing silver. If you are holding .. sell it on fleabay and buy 90% with the proceeds.

    Just my opinion.
    T. Riley likes this.
  20. Gator 45/70

    Gator 45/70 Monkey+++

    22lr's, 7 cents to 10 cents for the peppy stuff...Each.
    Math is easy, Counting out a few rounds is even easier.
    Dunerunner, Ganado and T. Riley like this.
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