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Silver Rounds

Silver Rounds

Silver has been used in trade and as a currency for thousands and thousands of years. Some of the oldest silver coins recovered today date back to well before 400 BC. These coins were of Persian production, and archaeological and historical records show that these coins eventually circulated all over the globe, confirming the thought that even tens of centuries ago, silver was an accepted medium of exchange around the world. More than 200 years ago, when the British Pound-Sterling was the World Reserve Currency, the Pound was based on silver content. Simply put, silver has been money as long as history has been recorded.

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"Fungible" Silver Rounds

Silver rounds carry on this tradition in a unique sense; they are not produced or backed by a government, they are minted privately, and accepted because they are "Fungible". Fungible means that one item may be exchanged for another because fundamentally they are both the same. For instance, if two mechanically identical Corvettes are produced on the same day, and one is black and one is red, they both have the same value though they will be intrinsically the same, but visually different. Such is the case with silver rounds. As long as the silver purity and weight are the same, the design minted into the round is truly inconsequential to the value of the silver contained in the strike.

Round Vs. Coin

Governments can be just as particular as numismatists when it comes to the vocabulary surrounding mints, minting, and their products. Legally in the U.S. and abroad, only a government can produce a "Coin". In the U.S. coinage produced at an official U.S. Mint is guaranteed in metal content and value by the U.S. Government, and they will be marked with a denomination is U.S. Dollars or Cents. These coins are also considered legal tender and must be accepted for the payment of debt. Rounds, on the other hand, carry no government's guarantee (Though the private mint that produced the round may issue it's own guarantee), should not be marked with any U.S. Dollar value, and is not legal tender for re-payment of debt, personal or otherwise.

Rounds And ITM Trading

ITM Trading deals in silver rounds for several reasons including the low cost of acquisition over the spot price of silver, the inherent barter-ability of a silver round, and because silver is highly liquid. If you are just beginning to add precious metals to your portfolio, or if you already have a sizable collection of old or rare coins, you should strongly consider owning silver rounds.

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