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Silver Eagles vs Generic Rounds

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Should I buy Silver Eagles or Generic Rounds?

A lot of beginning investors ask whether they should start buying generic rounds or American Silver Eagle coins. Most people will answer by telling the person to buy generic rounds because they are cheaper and can be bought closer to spot price. While this may at first seem like sound advice, it is more likely to be bad advice.

When considering whether to buy Silver Eagles or generic rounds one needs to consider the “round trip” cost of buying and selling.

Imagine the scenario where spot price is $16.65. Buying random year ASEs might cost $19.00 ($2.35 premium), a generic rounds might cost $17.65 ($1.00 premium).

A dealer is going to buy back ASEs at a higher price than generic rounds. For example, it is fairly common throughout the US that local coin stores will buyback Silver Eagles for around $1.00 over spot. However, most will usually pay $1.00 or so under spot for generic rounds.

If I sold (1) Silver Eagle and (1) generic round back to the dealer when spot was again $16.65. the dealer might buy the Silver Eagle for $17.65. The same dealer might only buy the generic round for $15.65.

The ASE actually “cost” me less when selling. In this case, I lost $1.35 premium I paid for the ASE, but I lost $2.00 on the generic round.

When considering the cost of buying and selling silver it may seem reasonable to buy generic rounds because they can be bought closer to spot. However, factoring in the cost of selling the same bullion, whether Silver Eagles or generic rounds, the cost of selling is less.

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Buying Junk Silver

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90% junk silver coins

Junk Silver is a commonly used name for coinage containing 90% silver that was in circulation in the United States prior to 1965. Buying Junk Silver is one of the best and most affordable ways to grow your investment in precious metals.

The term “Junk Silver” is a broad term that includes any government-issued coinage that was in circulation and contains silver that has no numismatic value to coin collectors. It is collected only for its silver content.

Even though junk silver coins were circulated and might show signs of wear and tear, they still contain a significant amount of silver, which has intrinsic value. Junk silver is a tangible asset, and as the spot price fluctuates, its value changes accordingly. Many investors appreciate having an investment they can physically hold instead of intangible assets or paper investments.

Being smaller denominations, junk silver can also be used as “fractional silver,” allowing for more flexibility if you ever need to sell or trade in small amounts.

Due to its recognized silver content and divisible nature, it might be one of the most effective bartering tools for an extreme economic crises. It can also be an affordable entry point for those looking to start investing in silver without a significant upfront cost. Junk silver often carries a lower premium over the spot price of silver than newly minted silver bullion coins.

In the United States, coinage containing 90% silver was in circulation prior to 1965. The US Mint minted coins containing 90% Silver, including dimes, quarters, half-dollars, and one-dollar coins. During World War 2, some nickels were also minted with 35% silver alloy.

Buying at or Below Spot Price

Silver investors flock to junk silver because it is often available at or close to the silver spot price. Deals are easy to find with little to no premium.

These silver coins were minted over 50 years ago, and many have been melted down, leaving a limited supply of junk silver available today.
Below are described the most common types of junk silver available on the market today. The values are calculated with today’s silver spot price of $31.98 per ounce.

CoinYears MintedSilver ContentTotal WeightSilver WeightApproximate Melt Value
Silver Nickels
Jefferson “War Nickels”1942-194535%5 grams1.75 grams (0.0563 troy ounces)$1.8
Silver Dimes
Liberty Head “Barber Dime”1892-1916.902.52.25 grams (.072 troy ounces)$2.3
Winged Liberty “Mercury Dime”1916-1945.902.52.25 grams (.072 troy ounces)$2.3
Roosevelt Dime1946-1964.902.52.25 grams (.072 troy ounces)$2.3
Silver Quarters
Liberty Head “Barber Quarter”1892-1916.906.255.625 grams (.181 troy ounces)$5.79
Standing Liberty Quarter1916-1930.906.255.625 grams (.181 troy ounces)$5.79
Washington Quarter1932-1964.906.255.625 grams (.181 troy ounces)$5.79
Silver Half Dollars
90% Walking Liberty1916-1947.9012.511.25 grams (.362 troy ounces)$11.58
90% Franklin1948-1963.9012.511.25 grams (.362 troy ounces)$11.58
90% Kennedy1964.9012.511.25 grams (.362 troy ounces)$11.58
40% Kennedy1965-1969.4012.55 grams (.148 troy ounces)$4.73
Silver Dollars
Morgan Dollar1878-1921.9026.7324.06 grams (.773 troy ounces)$24.72
Peace Dollar1921-1935.9026.7324.06 grams (.773 troy ounces)$24.72

The best junk silver for investment

Some junk silver coins have numismatic value to collectors and will carry a higher premium over the spot price. These are typically early-minted coins such as Liberty Head and Mercury Dimes, Liberty Head and Standing Liberty Quarters, and Walking Liberty Half-Dollars. Morgan dollars and Peace dollars will also carry a fairly high premium over the spot price.

The junk silver coins that will be available at or close to spot price will be those with high circulations and were minted during the later years of coinage when it was minted with 90% silver. Those include Roosevelt Dimes, Washington Quarters, and Franklin and Kennedy Half-Dollars.

When the minting of these coins was changed to copper-clad in 1965, many collectors hoarded and saved the coins containing 90% silver to hold and store the precious metals content.

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Buy Bullion on eBay and eBay Bucks

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When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.

View our list of eBay Bucks Eligible Bullion Items

eBay has become an excellent place to buy silver and gold bullion. Almost all of the major, reputable bullion dealers have set up eBay stores as another channel for selling their products. Buying bullion on eBay gives you the added benefit of the eBay and PayPal buyer protections that are in place. Additionally, the eBay cash back rewards program, eBay Bucks, provides a way to offset and lower the price you pay for silver and gold bullion. However, there are a couple of things to consider.

Bullion Pricing on eBay

Products being sold by major dealers are often priced differently than the same products on their own websites. Often they are more expensive. This is primarily due to the additional fees that eBay and PayPal charge sellers as part of their selling service.

Another reason the pricing may seem more expensive is that eBay encourages sellers to offer buyers free shipping. The cost of free shipping isn’t free and will be factored into the price of the product. Depending on the dealer and the product and order size this can make the cost lower than buying through the dealer’s own website.

Almost every major, reputable bullion dealer advertises the cash price on their website and will add a surcharge when purchasing via credit card, debit card or PayPal. When buying bullion on eBay, the advertised price is the price you pay when using a credit card or PayPal. Those fees are also incorporated into the price.

For these reasons, the advertised price of a bullion item on eBay is more representative of the true cost you pay for a product when factoring in payment surcharges and shipping. While at first glance the price may seem higher than on the dealer’s own website, factoring in these additional costs makes the price comparable. When you also consider other incentives such as the eBay Buyer Protection and eBay Bucks, the practicality of buying silver and gold bullion develops into a more compelling case.

Incentives for Buying Silver and Gold Bullion on eBay

Knowing the true cost of what your buying when factoring in credit card surcharge and shipping fees is a good reason for considering eBay when buying silver and gold bullion. However, there are a couple of other compelling reasons as well.

Bullion and PayPal Purchase Protection

All investors in silver and gold bullion are aware of the large amount of counterfeit products prevalent in the marketplace. With the large amount of counterfeit bullion products being produced en masse in China many of those counterfeit items have made their way to eBay.

It is always recommended to buy from major, reputable dealers on eBay to reduce the risk of buying counterfeit products. Getting a counterfeit product is always possible. In the event it does happen, you are protected by both PayPal and eBay. If a product is counterfeit, simply opening a case with eBay and PayPal will result in an investigation. If the product is counterfeit, the buyer will be refunded their money and the seller will likely receive some punitive action.

eBay Bucks and Silver and Gold Bullion

A much bigger incentive for buying silver and gold bullion on eBay is a cash back rewards program that is offered by eBay called eBay Bucks. eBay Bucks provides a 1% cash back bonus on certain purchases made through eBay.

eBay Bucks cash back rewards accrue on a quarterly basis. At the beginning of the following quarter eBay issues a certificate code that can be used just like a gift card when making purchases. The certificate code applies the earned cash back rewards to the purchase price of an item which essentially reduces the price of an item.

Throughout the quarter eBay will have promotions that allow you to earn higher rewards. Typically the promotions have boosted the cash back earnings from the base 1% to 8% to 10%. In one instance earlier this year eBay boosted to the cash back earnings to 15% on purchases. When that promotion was active buyers earned $15 cash back towards a future purchase for every $100 spent. The benefit of being able to apply the cash back rewards to bullion purchases can reduce the cost bullion to below spot price which can greatly reduce the overall dollar cost average of your investment.

How can I sign up for eBay Bucks

Signing up for eBay Bucks is pretty straight forward if you already have an eBay account. Instructions for opting in to the eBay Bucks program can be found here.

Caveats of eBay Bucks

There are a couple of caveats that come with the program.

You can’t earn eBay Bucks when buying silver and gold bullion that is listed in the bullion category. eBay discounts their listing and selling fees for bullion dealers that list products in the silver and gold bullion categories. As a result, bullion purchases are excluded from earning eBay Bucks cash back.

There are some exceptions and workarounds. Many dealers will list products in alternate categories. Some products that are considered bullion can also be categorized as coins or collectables. Dealers will often list these products in alternate categories that do earn eBay Bucks. At times when eBay is running an eBay Bucks promotion that earns a higher cash back amount, buying items in these categories can earn a significant amount of cash back.

Another caveat to the program is that there are some limits on earning. The most you can earn on a single purchase is $100 in eBay Bucks. At normal times, this means that you’d need to make a purchase of $10,000. However, when eBay is running eBay Bucks promotions the amount can be greatly reduced. If eBay is running a promotion that earns 10% cash back, purchasing a single American Gold Eagle from a dealer that has one listed in an non-bullion category would easily hit the maximum amount earned per transaction. This is something that needs to be considered.

The program also has an earning limit of $500 per quarter. This limit applies to both regular cash back rewards and at times when eBay is running eBay Bucks promotions.

Finding silver and gold bullion that qualifies for eBay Bucks

Searching through categories on eBay trying to find silver and gold bullion that qualifies for eBay Bucks can be time consuming and tedious. FindBullionPrices.com makes this process a bit easier.

We maintain a list of eligible item listings that are regularly available for earning eBay bucks. The list contains silver and gold bullion items, junk silver currency, pre-1933 gold bullion and other items that are listed in categories that are eligible for earning eBay Bucks.

Additionally, subscribers to our newsletter will receive alerts when eBay Bucks promotions are running that include direct links to eligible product listings.

When will eBay run their next promotion?

In the past, eBay has run bonus promotions several times throughout the quarter. Running the promotions is probably a way for them to increase buying activity on their site and boost sales.

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Where to buy silver

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shipping silver bullion

Why Buy Silver Online

When looking your options for buying physical silver bullion, you can buy locally from a local coin store, an individual, a pawn shop or other retail location, or you can purchase from an online bullion retailer. There are pros and cons of each and you will need to make the choice for what’s best in your situation. In our experience we have found it best to buy silver online.

We recommend buying silver bars online for the following reasons:

  • No Sales Tax – In most states, one of the best benefits of buying online is that most online dealers will not charge sales tax on silver bullion unless. This isn’t always the case and will depend on which state you reside. However, in states where precious metals are subject to sales tax, local retails, coin shops and pawn shops may be required to charge and collect sales tax on silver bars and rounds.
  • Wider Selections – Local coin shops, pawn shops and other local retailers often have limited capital and will carry inventory of items that they know sell well. Online retailers will often have a wider selection of products. While your local pawn shop may have only a few silver bullion items in stock that they purchased from other customers, online dealers carry hundreds of popular and limited mintage silver rounds, silver bars and other silver bullion products.
  • Lower Prices – Local retails have high overhead items such as store front, local advertising, limited amounts of space to carry inventory, etc. Online retailers will almost always beat the price of your local dealer. Many online silver bullion dealers will include free shipping and insurance when the purchase meets a certain threshold.
  • Discrete Shipping – The majority of the major online dealers ship in discrete packaging which gives no inclination of the valuables inside. Shipments are insured against being lost or stolen.
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Buy Silver with Bitcoin

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Bitcoin and other cryptocurrencies have had a wild ride over the past year. Down more than 70% from it’s highs, the future of bitcoin as a viable security and cryptocurrency is still a risky investment. Now is a great time to buy silver with bitcoin profits.

Many online silver and gold bullion dealers have begun accepting bitcoin and other cryptocurrencies as a payment method. Many are using bitpay as the gateway.

The list of dealers that are accepting bitcoin or cryptos as payment continues to grow. We keep an updated list of online bullion dealer payment methods.

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Generic Silver Rounds : Best Places to Buy Silver Rounds

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silver rounds

Silver rounds are privately minted silver bullion that comes in the shape of a coin. Silver rounds are not legal tender such as silver coins that are minted by sovereign governments. Silver rounds are shaped similar to a coin and can come in a variety of weights from fractional sizes up to kilo. The most common size Silver Round is 1 troy oz.

Silver rounds are easily stacked and can be stored in rolls or tubes. In general, tubes of silver rounds will hold 20 rounds. Storing silver rounds in tubes is a convenient way to store, stack and ship silver rounds.

Silver bullion rounds can come in a wide variety of designs. Some silver rounds are very plain and generic with no real design other than the logo from the mint. Other silver rounds have very intricate designs and can become highly collectible on their own.

Are Silver Rounds as Good as Coins?

  • Silver rounds can be bought from any online bullion dealer for a very low premium over silver spot price
  • Premiums over spot price on silver rounds will be lower than those of sovereign government bullion coins
  • The value of each silver round is based on their weight in troy ounces and is based solely on silver spot price
  • Silver 1 oz rounds are a convenient size for stacking and can easily be traded or bartered if SHTF
  • Silver rounds come in a variety of weights, from fractional rounds as small as 1 gram, to large sizes up to a kilo
  1. You can buy silver rounds in a wide variety of sizes ranging from one troy ounce to kilo. One ounce Silver Rounds are the most popular
  2. Each silver round coin contains one full troy ounce of pure (.999) silver. Each round will be stamped with the weight and purity.
  3. It has a purity of .999 fine silver
  4. They are minted by private mints and are not valid as legal tender

Varieties of Silver Rounds:

Silver bullion rounds are minted by numerous private manufactures. Some of the private mints will brand each round with their logo while sound will have a generic design. Some of the more popular private mints include Sunshine Mint, Republic Metals Corporation (RMC), Silvertowne. Silver Rounds from these established private mints are popular amongst stackers and investors. Some privately minted Silver Rounds, such as those by Sunshine Mint, incorporate security features that are designed to thwart counterfeiting attempts.

Generic silver rounds may be produced by other private mints as well, including some that may no longer exist. In some cases, vintage silver rounds can be highly collectable and carry a significant premium over other generic silver rounds.

Some private manufacturers produce silver rounds that are intended to be collectibles and carry a higher premium such as the Privateer Series from Elemetal.

Most Valuable Silver Rounds:

Engelhard Silver Prospectors is the one ounce silver round that is most sought after by collectors. It was minted by Engelhard but has not been produced since 1988. This silver round is difficult to obtain and occasionally can be purchased on the secondary market.

Best Dealers to Find Silver Rounds

Silver rounds can be bought from any online bullion dealer. They are one of the most common precious metals investments and will have the lowest premium over spot price. We track the prices of generic silver rounds from over 25 of the most trusted and reputable online bullion dealers.

Pricing of silver rounds will vary amongst dealers. When you buy silver rounds be sure to look for volume discounts that some dealers offer. Purchasing in quantities of 10 or more ounces usually includes a discount on the dealer premium and may include free shipping.

Best All Around

Golden Eagle Coins provides the best overall value in terms of customer service, pricing and free shipping. They carry  1 oz Silver Rounds from a variety of leading manufacturers with a number of different designs available. The best value is their Random Manufacturer Generic Silver Rounds. These rounds will be dealers choice and may include new and secondary market silver rounds. Each will contain 1 troy ounce of pure .999 silver. Golden Eagle Coins has been in business since 1974 provides free shipping on all orders over $99.

Best for Quantity Orders

SD Bullion has been in business since XXXX. They carry a wide variety of generic silver rounds at the lowest premiums over spot price. For orders that are less than $2,500 they charge a small shipping fee which will increase the overall price per silver round.

Silver Bullion Rounds Summary

Silver bullion rounds are the most affordable, easy to store investment you can make in precious metals. They provide an excellent opportunity for anyone interest in precious metals investment to get started with silver bullion.

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Which Quarters are Silver?

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junk silver quarters

US quarters that were minted before 1965 contain silver. The silver quarters were struck with an alloy that contains 90% silver. The melt value for each silver quarter is over $4.00 today.

Silver quarters, like all 90% silver US coinage are sometimes referred to as “junk silver”. This is a common term adopted from the coin collecting industry for coins that have no numismatic value. Their value lies strictly in the intrinsic silver content.

Junk silver quarters are a great way to get started with investing in silver. They are fractional and you can buy them close to spot price. In some cases, you can buy silver quarters at spot price.

Silver Quarters in Circulation

There are still some silver quarters circulating alongside modern quarters. The Washington Quarter was introduced in 1932. More than 3 billion silver Washington quarters were minted up until the debasement began in 1965. While many have been melted down over the years, there are still plenty available in the wild.

The easiest way to tell if you have a silver quarter is to look at the date. All quarters that were minted prior to 1965 contain 90% silver content. If your quarter is from 1964 or earlier, then it is a silver quarter.

Silver Quarter Worth

At the very minimum, a silver quarter is worth its weight in silver. A 90% silver quarter has an overall gross weight over around 6.25 grams. Therefore, it has roughly 5.625 grams of silver. Based on the spot price, the intrinsic value of the silver is worth significantly more than the face value. Which is the primary reason that the government stopped to use of silver and made the switch to clad coins.

An easy way to estimate how much your silver quarters are worth is that each $1.00 Face Value, or four silver quarters, contains .715 troy ounces of silver. This is a commonly accepted weight that takes into consideration that there may be some wear and tear from circulation.

For more information about which silver quarters may be key dates and have some numismatic value you can check out the page on coinflation.com.

You can easily compare online dealer prices for 90% silver quarters:

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Mexico Gold 5 Peso Coin – 3 Reasons Why It’s a Better Value Than 1/10 oz American Gold Eagle

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The Mexico Gold 5 Peso coin is a gold bullion coin from Mexico. It was minted by the national mint of Mexico, La Casa de Moneda de México from 1905-1955.

Overall, the coins are similar in size, the purity of the Mexico Gold 5 peso coin is 90% pure gold, slightly less than the 1/10 oz Gold Eagle’s purity of 91.67% pure gold. This makes the gold 5 peso coin harder and more durable to handle. The 5 peso gold coin contains more gold and a similar price point as the 1/10 oz gold eagle, which means you’ll get more gold for the same price.

Premiums on vintage gold bullion coins are lower than newly minted coins. Some Mexican gold peso coins were minted more than 100 years ago

  1. The Mexico Gold 5 Peso coin and US 1/10th Oz Gold Eagle coin are roughly the same size
    The Mexico Gold 5 Peso coin is slightly larger than the US 1/10th Oz Gold Eagle, at 19 mm compared to 16.5 mm. By comparison, a modern US Dime is  17.91 mm in diameter, slightly larger than the fractional gold eagle, slightly less than the gold 5 peso. Since the coins are roughly the same size, both are easy to keep and store in a secure location that doesn’t take much physical space.
  2. The Mexico Gold 5 Peso coin contains more gold than the 1/10 oz Gold Eagle
    Even though the purity is slightly less, the Mexico Gold 5 Peso coin contains more gold than the 1/10 oz Gold Eagle, .1205 troy oz vs .10 troy oz.
  3. The Mexico Gold 5 Peso coin carries a lower premium than the 1/10 oz Gold Eagle
    The Mexico Gold 5 Peso coin often carries a lower premium per troy ounce when compared to the premiums on the 1/10 oz Gold Eagle. Often, dealer premiums for the Gold 5 Peso coin are around $10 per coin and at times can be found for much less. We’ve seen premiums on gold pesos as low as $5.00 per coin in recent months. Dealer premiums for 1/10 oz Gold Eagle coins are typically around $20 per coin.

If you’re dollar cost averaging as you grow your investment in gold, buy Mexican gold 5 Peso coins for a better value.

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1 oz Silver Coins

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2018 American 1 oz Silver Eagle

1 oz silver coins are issued by various government mints around the world and are popular among investors and collectors for their silver content, as well as for their artistic and historical designs.

These silver coins are legal tender in the country they are minted, though their market value based on the silver content far exceeds their face value.

These coins are minted to cater to the demand from investors who invest in physical silver as a hedge against inflation, economic instability, or as part of a diversified investment portfolio. Investors buy 1 oz silver coins because they provide an accessible entry point into physical precious metals due to their relatively low cost compared to gold coins.

With unique and sometimes annually changing designs, these coins also appeal to collectors, attracting not only investors but also coin enthusiasts. Minting 1 oz silver coins allows countries to showcase their cultural heritage, national symbols, or commemorate significant events and figures.

Popular government bullion coins, such as the American Silver Eagle and the Austrian Silver Philharmonic are only minted in the standard 1 oz silver coin size. While larger size coins are available from other mints, they require a larger initial investment.

  • Compare the premium for different coins.
  • Coins with lower premiums are more cost-effective for pure investment purposes and as a store of value.
  • Coins from established, reputable mints are more trusted in terms of purity and quality.

Consider how easily the coin can be sold. Popular coins like the American Silver Eagle or Canadian Maple Leaf are recognized worldwide and are more liquid.

For some investors, the joy of collecting and the aesthetic appeal of a coin are also important considerations. Remember that some coins might carry a higher premium due to collectibility, design, or other factors.

US Mint American Eagle 1 oz Silver Coins

2023 American Eagle 1 oz Silver Coin Obverse

The US Mint first issued the American Eagle 1 oz Silver coin in 1986 as a trusted store of value for investors. For more than 37 years,

Research and Continuous Learning

As with any investment, it is important to stay informed trends in the precious metals market, historical values of coins and new issues. It can be helpful to join online forums, such as /r/Silverbugs on Reddit and engage with other collectors and investors can help provide valuable insights.

There are following news sites that specialize in news related to the precious metals industry and the numismatic industry.

Larger Silver Coin Denominations

Some governments issue coins in larger denominations and weights. For example, the Mexico Silver Libertad is released every year in multiple sizes, as are several of the annual series’ from the Perth Mint. The sizes include full troy ounce weights including: