Why Buy Buffalo Silver Rounds?
What are silver rounds?
Silver rounds and silver coins are differentiated by one fundamental characteristic. Silver rounds are struck by private mints and silver coins are struck by government mints. Silver rounds can be struck by anyone and many mints have come out with their own silver round varieties. For this reason, silver rounds come in many different shapes and sizes.
There are silver rounds that are minted for special occasions as well. You will find silver rounds struck with religious motifs, national monuments, or even a famous people. The type of silver round that this piece will focus on is called the American Buffalo Silver Round. This particular round is like many other silver rounds in that it looks identical to a regularly circulated coin of the same name, though silver rounds are never used for currency. American Buffalos are very much a part of Americana and collectors from the United States and abroad seek these coins out with incessant vigor. Before we explain more about the American Buffalo silver round, we will first introduce you to a few reasons why buying silver rounds is a great way to invest your money.
Silver rounds are called ’rounds’ for a reason. Actually, there are two reasons which are mentioned below.
- When precious metal was formed into coins, it became possible to stack them into rolls. Rolls can be easily packed and shipped.
- No monetary value is displayed on silver rounds and they cannot be used as official currencies. Since the term ‘coin’ is frequently used to denote a currency, rounds are not called coins.
Advantages of silver rounds
Silver rounds have many advantages over silver bars and even silver coins. Some of them are mentioned below.
- They are easy to obtain, store, transport and liquidate.
- They are theoretically equal in value to silver coins of the same weight and purity.
- They are good investment vehicles if you want to invest in precious metals.
- Some silver rounds such as those struck by mints that have closed down or are not minting anymore are hard to find and can be collected.
- Looking at their popularity, bullion experts believe that the day is not far when silver rounds will be accepted just like other official bullion investments in silver.
Buffalo silver rounds
Buffalo silver rounds are struck by many mints from all corners of the United States and they are fairly common and hence they are available at a minimal premium over the spot value. If you want to know the price of your silver rounds an easy way to do so would be to look for the spot price of silver as it stands currently (note: the price of silver changes on a day to day and hour to hour basis). Silver rounds, unless they have a special significance as collectables, will usually be priced a little above the spot price, though this depends on who is selling the Buffalo silver rounds.
Buffalo silver rounds can be easily distinguished from other silver rounds. The obverse side of a buffalo silver round is imprinted with the side profile of a Native American. Sometimes the word ‘liberty’ will also be printed on the obverse side. The reverse side is imprinted with the profile of an American bison, commonly referred to as a buffalo. Other details such as the weight of the coin, the purity (99.9%) and occasionally the name of the mint will also be impressed on the coin. Buffalo silver rounds reflect the design of an old but popular Indian head nickel also called the ‘Buffalo nickel’. The buffalo nickels were struck between the years 1913 and 1938. These old coins are hard to find but they have left their legacy in the buffalo silver rounds which will continue to be traded for the foreseeable future.
Buying Buffalo silver coins from JM Bullion
JM Bullion is one of the few retailers online that sells buffalo silver coins. Because buffalo silver coins are minted by several mints, JM Bullion clearly displays its buffalo silver rounds under a heading called ‘mint varies’. The company receives the rounds directly from the mint in sealed tubes. The more silver rounds you buy from JM Bullion the more discounts you get over the spot price. The smaller you buy, higher is the price over the spot value, but when buying from JM Bullion you will quickly learn that they have some of the most competitive prices in the business.
The company guarantees that all rounds you receive will be brand new and will also be insured while in transit. In case the rounds get misplaced or damaged you will be reimbursed for the entire amount. The rounds will also be packed such that they don’t shift in transit. To receive the package you will have to sign for it personally and you can receive it wherever you want. To have a firsthand look at the buffalo silver bullion, you can visit the company website.
JM Bullion is a relatively new online silver and gold dealer which means when you buy from JM Bullion you are getting some of the best deals on the web. Buffalo silver rounds are some of the most popular silver rounds that are exchanged today which means you have to get your hands on them as fast as possible.