Expert: PAPAJACK - 5/29/2008

Question
I have a coin that has the seal of the city of Los Angeles and the words City of Los Angeles and Founded 1781 on the back and on the front is the Coliseum with the words Site of Olympics and 1932-1984.  It says one troy ounce .999 pure silver in small lettering under the Coliseum.  This is not the US Dollar Coin and it weighs 32 grams.  Do you know what it is and what it is worth?  I have looked all over the internet and cannot find one like it.

Answer
Hello Walter,                          

This is one of the countless silver rounds being produced. It is currently worth about 17 dollars.  There is no single catalog that has all the different designs. They are made by many different companies as well.

Its value is the current price of one ounce of silver bullion.
They are made in rounds and rectangles (bars) then sold to the public at a small premium over the spot market each day.

Some are made using coin designs and I have 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.
There are some rare fine metallic art pieces that sell at a higher value but most are produced in the millions.
Your Los Angeles Olympic is a popular one. It is similar to a US Commemorative dollar made in 1984.

Here are some sites to visit for others.
 
http://www.apmex.com/Category/520/Silver_Rounds.aspx
http://www.villagecoin.com/c/sil/Silver+Rounds.html
http://www.rivercitycoins.com/silversets/silversets.html

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Thank You and Good Luck

PapaJack