Expert: PAPAJACK - 10/23/2008

Question
Hello PapaJack,

I have a silver trade coin with a man face with a headress of some kind of leaves and flower, then circle stars around the coin, at the back of the coin it said one troy ounce and a balance, below the balance is mark .999 fine silver and silver trade unit. Is this collectible and how much does this cost?. Please advise what is the best thing to do with this coin. I have no image as my scanner does not work.
Thanks and kinda regards,
Julian

Answer
Hello Julian,                

This is not a coin at all. This is one of the countless silver rounds being produced.
Its value is the current price of one ounce of silver. They are made in rounds and rectangles (bars) then sold to the public at a premium over the spot market.

Some are made using coin designs (as yours) and I have also seen tractors presidents, company logos etc. They are categorized as Silver Art Bars (or rounds) and as I said trade at the current price of silver. Some rare metallic art sell at a higher value but most are produced in the millions. Here are some listed;

http://www.goldsilverbullion.com/BullionDetail/AMarkSilverRound1oz.htm

http://www.apmex.com/Category/520/Silver_Rounds.aspx

www.villagecoin.com/page/coin/CTGY/ART

If you search a site like eBay I am sure you will find an example like yours there. But the dealer buy price is around 8.50 to a dealer and $9.50 or more to a collector of silver art.

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Thank You and Good Luck

PapaJack