While silver rounds are available in many different sizes, 1 oz silver rounds are by far the most common. These are an excellent option for investors looking to purchase silver rounds with the lowest possible per-ounce cost. As with silver bars and other sizes of rounds, 1 oz silver rounds are at least .999 pure silver. Many investors prefer one ounce rounds for the wide array of design options, low per-ounce cost, ease of storage, and liquidity.
Dimensions and Sizes
Most 1 oz silver rounds measure approximately 39.4mm in diameter and are approximately 2.9mm thick, though each silver mint is free to set their own dimensions. They weigh 31.1 grams, or one troy ounce. The size and shape of a 1 oz silver round is similar to a large coin; the one-ounce silver round is slightly larger than most silver dollars. The major difference between a 1 oz silver round and a coin is that the round has no legal tender or face value.
Designs and Mints
One-ounce silver rounds are produced in large quantities by many silver mints around the world. Silver rounds are produced by Golden State Mint, Engelhard, Sunshine Minting, Northwest Territorial Mint, NTR Metals, and other mints.
Some rounds carry a simple design stating the name of the mint and the weight and purity of the round. Others have more elaborate designs. Some investors seek out the lowest priced rounds available, which often means a generic or simple design. Others collect commemorative issues and other uniquely-designed rounds, seeking out rounds with excellent eye appeal. Many one-ounce silver rounds are designed specifically for gift-giving purposes, and carry appropriate designs for this purpose.
Some investors are willing to pay a higher premium for well-known silver mints or unique or hard-to-find designs, while others base their decisions only on seeking the lowest per-ounce costs for their silver investment.
Premiums and Pricing
This is one of the most cost-effective ways to purchase silver bullion. The premiums for silver rounds tend to be smaller with larger rounds. Many investors move up to 1 oz silver rounds after purchasing smaller sizes, such as tenth- or quarter-ounce rounds, to take advantage of the lower premiums. Often, one-ounce rounds can be found for just a couple of dollars over the current spot price of silver. These low premiums have made 1 oz silver rounds one of the most popular forms of physical silver among investors.
Where to Buy
One-ounce silver rounds may be purchased from most silver dealers, including local coin shops, pawn shops, and online sellers. Because they are so widely traded, they are considered to be among the most liquid forms of physical silver bullion. For the widest selection of round designs, and the most competitive per-ounce pricing, turn to online dealers.
Storage and Packaging
It is much easier to storage a few 1 oz rounds than dozens of smaller rounds, such as the 1/10th or 1/4th ounce size. This size of silver round is often stored in plastic tubes which hold 20 such rounds. Larger quantities come packaged in ‘monster boxes,’ which contain tubes holding a total of 500 rounds.