Expert: Ronald Fern - 2/12/2011

Question
I purchased this from the Washington Mint about 10 years or so ago.
It is a .999 fine silver and is still in the plastic jacket, never opened,
Should I sell it for the silver or is it worth more as a "coin"
Thankyou.
Santa Rosa Ca, Feb 11, 2011,  8:05 PM

Answer
Hi Bernard:

Thanks for the question.

Your description of the piece tends to verify that what you have is a one troy ounce .999 Fine Silver Round. Many of these are struck with designs very similar to our U.S. coinage. They are a popular way to hold silver bullion, and these "generic" pieces usually sell for about a dollar over the spot price of silver. They are struck by private mints, so they do not qualify as coins. Many of the "generic" designs are produced in the millions. The fact that yours is still in a plastic jacket would not likely add to the value.

Scarce to rare pieces may bring up to double the melt value, but most trade right around it, plus or minus a few dollars. At the current rate of silver, $29.91, your round is likely worth about $30 to $33 to an interested collector.

You may also want to check out these links on silver bars and rounds:
http://www.rivercitycoins.com/silverrounds/celebrity/celebrityrounds.html
http://bullion.nwtmint.com/silver.php

You may want to check US coins and currency listings under bullion on eBay from time to time to see if your piece is listed what this type of item may bring.

If you live close to a local shop, they should offer an opinion as to the value at no charge. Always try and get at least two opinions and try and deal with PNG dealers if possible. If you should decide to sell your items to a dealer, remember they will offer about 85% to 90% of the retail value on bullion related items. Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php

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Thank You and Good Luck in your collecting.