Generic Rounds vs Bars

[Hawkeye]

This is a topic that has probably already been discussed, but I thought I'd ask anyway. My interest in generic 1 oz rounds was piqued on a thread on this forum the other day and I've been looking at them a little harder (I usually stick to gov. rounds, 90% and 80%). My question is this: when dealing with generic stuff, do you prefer rounds or bars and is there any reason for your preference. I've got a few of both, and I kind of like the look of bars, but would assume that rounds might be easier to sell. Thoughts?

[silverstacker]

Personally I like Bars. Seem to b e easier to sell at my LCS

[joemac]

I tend to prefer rounds.

[beauanderos]

if you're getting into collecting them... they're both good, but I would imagine the bars far outnumber the rounds in different types

[Hawkeye]

I do like the idea of having a collection of the bars produced by various mints. And there is just something about a precious metal in bar form that's appealing.

[dakota1955]

I like rounds because I stack them in tubes like silver dollar. Bars to me stack harder.

[highroller4321]

If it's generic it doesn't really matter but I would say bars.

[dae2dae]

six of one, half dozen of the other

[Rastatodd]

Doesn't matter which one just as long as the bar/round is marked .999 and my earth magnetic isn't attracted to it.

[Silverfondler]

Good question to start a debate among PM collectors/holders.

I think it comes down to what you are looking for. I personally prefer the generic 1oz bars from various mints. At the end of the day they are 1oz of Silver and is worth whatever Silver spot is at any given time. No collector value no personal value no BS. I think if you are collecting/holding for investment purposes this is route to go. They stack easily and like I mentioned they will sell for whatever silver is going for at that time, no questions.

Now, rounds are a little different you so many generic rounds with specific stamps on them. Company logo's to athletes faces. And, not to mention these all have some kind of "collector value" which one could say they will be worth more in the long run. Which that logic checks out - and, to be honest some rounds are just really cool to look at it or in my case great for a little silver fondling. However, when push comes to shove and you want to sell your pieces. It is obviously worth the Silver at whatever the current price is on that day. But you can get into debates on the collector value in which it holds. Which comes down to the buyer - if you find a collector of a specific genre and you are looking to sell you are in a good situation. Chances are he/she will buy it at whatever value is deemed necessary. However, if things get really bad out there. It will come down to the silver content and the worth/value of the actual silver. Not the stamp on the round.

For me to answer this question. I own both rounds and bars. I originally got into silver as an investment and only went after silver bars. And, I still actively go after them. Having said that - if a sweet round comes my way I will jump on those too.

[natsb88]

I generally prefer bars, but have both. I seem to be able to sell bars a little easier and at a higher premium than most rounds. Bars are easily identifiable as bullion. Some people with zero PM knowledge look at rounds and think "coins," and have trouble separating that from the idea of government coins and currency.

More than bars versus rounds, I tend to look at the brand. I mostly have Engelhard, JM, National, and other older and "top tier" brands (Refco, Credit Suisse, Pamp Suisse, Scotiabank, and so on) that tend to fetch a nice premium. Not much of the current Silvertowne/Sunshine/OPM stuff that online dealers frequently have for <$1 over spot, and even fewer generic "art bars/rounds." Sure, an ounce of silver is an ounce of silver, if you are going to dump your stack at any old LCS or refiner. If you have a more gradual exit strategy and plan on selling directly to other stackers through a place like Realcent, it's nice to have higher quality items that stand out from the crowd, and will probably sell quicker even at $1 or $2 more than the mountains of buffalo rounds everybody else has.

From a production standpoint, bars can be a little more difficult to automate than rounds, but do give you a better yield from the flat stock. Used to see a slight premium on bars over rounds from some producers, but they seem to be about the same now.

[MetalNoob]

I wish I had started this venture twenty years ago but I did not. I have made several purchases that include rounds and silver eagles so far and am learning as I go. My intent with PM is to diversify my retirement/shtf funds.
I have read this entire thread twice and for the most part rounds vs bars seems to be just a personal choice or liking?
Showing my noobness; what is a generic round or bar? Generic verses what?
Top Tier verses Silvertowne/Sunshine/OPM. If buying or selling a round or bar at a LCS would brand/mint really make a difference in price, I am not selling or buying a collectible round or bar just .999 fine silver. I realize different rounds and bars from different mints are priced differently but not sure why? A troy ounce of .999 silver is the same regardless of brand or mint?

[IdahoCopper]

Most of my stack is in US 90%. It does make a problem, as if/when I sell some, I'd like to get any premium over spot. I stack for silver value and content. So the argument Silverfondler makes is very valid for me:

"At the end of the day they are 1oz of Silver and is worth whatever Silver spot is at any given time."

That takes all the stress out of the equation of trying to get the premiums on Morgans, or even just 90%'s seniorage.

I think I will start looking for more 1oz bars.

[MetalNoob]

so exactly what does the term generic refer to with rounds and bars?

[Engineer]

so exactly what does the term generic refer to with rounds and bars?

Anything that didn't come from a government mint.

[MetalNoob]

thank you for that clarification.
not so sure I wouldn't trust generic over goobermint. good reason for diversification

[Shazbot57]

It's great reading threads like these. Good to know I'm having the same thought processes as others. I prefer bars to rounds and usually steer toward Engel, JM & the like, but have mostly 90% US (for wtshtf), as well as ASE's and RCM Maples.

[Hawkeye]

Interesting responses - they've given me some things to think about. Right now, I slightly prefer bars over rounds, but I like them both and I like the "it's one ounce of .999 silver and it's worth whatever spot is worth" idea. I do have one more question - why makes the top guys like Engelhard worth more than say Silvertowne?

[natsb88]

so exactly what does the term generic refer to with rounds and bars?

Anything that didn't come from a government mint.

I would go a little further and say that "generic" refers to privately minted mass-produced bullion that carries no real rarity or collectability and therefore a very minimal premium. Unbranded Indian/Buffalo rounds, holiday bars, a lot of the mass-produced "art bars" from the 1970s, rounds that use the Morgan / St. Gaudens / Trade Dollar design, etc.

There is a lot of stuff that doesn't come from government mints but does sell for a premium. Engelhard bars haven't been made since the 1980s but are very well recognized and easily bring a buck or two over "generic" prices. The older Johnson-Matthey 1 ounce stuff did too, but bringing those back into production a couple years ago killed some of that premium. Then there's stuff like the Silver Bullet Silver Shield and Zombucks series with limited mintages and popular designs which sell for more than ASEs or Maples, at least temporarily.

why makes the top guys like Engelhard worth more than say Silvertowne?

Engelhard products haven't been made in almost 30 years so there is a finite supply. Silvertowne can crank out as many as they can sell. When Engelhards were made they were just considered generic, an ounce of silver and nothing more. But they became a very trusted brand and the recognition has stuck with them. The vast majority of Engelhard bars are stamped with individual serial numbers, people seem to like that too. And a collectors market has developed around the older, more scarce, and oddball Engelhard stuff.

[dae2dae]

Interesting responses - they've given me some things to think about. Right now, I slightly prefer bars over rounds, but I like them both and I like the "it's one ounce of .999 silver and it's worth whatever spot is worth" idea. I do have one more question - why makes the top guys like Engelhard worth more than say Silvertowne?

I would not say worth more but definitely more liquid.
if you put a generic engelhard next to a generic silvertowne for the same price the engelhard will sell quicker because there are more engelhard tards geniuses out there to perpetuate an inflated premium.

[Hawkeye]

I did not know that about Engelhards. I've heard the name and seen them for sale but never looked into them enough to know that they aren't currently produced. But, since I'm already not really much into numi stuff, I'll probably stay away from them, unless I see a great deal on one.

[Shazbot57]

While I can see why someone might think of their premium as numi "like", I'm not sure I'd categorize Engelhard's as numi (unless they're art bars or some collectable piece), but definitely more sought after due to their long standing reputation and familiarity so they command a slight premium. People don't collect them like a coin but they do place a slight premium on them for their reputation and recognizability. Sort of like anything else that's been around a long time with a good reputation vs something newer or more recent. Around here you pay a small premium for Engel, JM, National etc.

[Shazbot57]

But I like Bars/ingots over rounds too!

[pennypicker]

I distinctly remember back during the "silver rush" in 1980 standing in a very long line at the Covina Coin shop in Covina, Ca. The line extended outdoors and people were buying and selling their silver to fellow customers so they could save on sales tax and buyer/seller premiums. As I recall silver was in the high $20's that day and moving upwards very fast. Myself and others in the crowd wanted silver and wanted it in a hurry before it hit $30. We didn't care whether it was bars, rounds, 90% or sterling. People didn't care who made it or what hallmark was visible. People, myself included, simply wanted silver in any available form--period!

These same circumstances will someday again repeat themselves......

[Treetop]

I am a bit surprised so many like bars over rounds. One reason is I can flip it to listen for the silver ring. It always annoyed me I couldnt do this as readily with bars I have had. Storing them was always more disorganized as well, not that it matters much, but rounds are nice and easy to put into tubes.