Silver rounds are a less well-known variation of silver bars. The difference between rounds and bars is found almost exclusively in the weights that are available. You will be able to find many bars that weigh 5 oz, 10 oz and even more, but this is not the case with rounds. Like coins, rounds are usually produced only in 1 oz and smaller varieties. Where bars offer the ability for investors to order bulk quantities at a time, rounds also allow for smaller quantities to be ordered.
Silver rounds are mainly found in 1 oz denominations. They look similar to a silver coin in design and shape. Unlike coins, however, rounds are produced by private mints and not governments. Rounds are often seen as commemorative releases, but many are also minted with nothing more than the brand of the mint on either side of the silver.
If you are not after 1 oz rounds, there are some other options available. Due to the increase in the price of silver, fractional rounds have gained in popularity. These types of rounds weigh less than 1 oz and have become an affordable choice for those looking to get started in silver bullion. Most of these fractional rounds can be found in 1/10th, 1/4 and 1/2 oz sizes. The smaller the size of the round, the higher the price over spot that you will generally end up paying.
For 1 oz silver rounds, the cost will usually hover around a few dollars over spot per ounce. The smaller you go, the higher the relative price over spot. As was the case with both bars and coins, rounds will also allow you to earn a discount per ounce if you purchase larger/heavier rounds.
There are many different companies that have and continue to mint silver rounds. Most every round is going to indicate who first created the item at hand. In addition to the mint and any other images or writing, a silver round should also include the weight and purity of the item. Like bars, a round should have .999 or better purity.
Silver rounds are no better or worse than silver bars and it is simply a matter of preference which type of silver you choose to order. Silver rounds will be available mainly in 1 oz sizes and can be purchased in bulk, while you can order fewer bars but in heavier weights. So long as the item that you are buying is pure silver, there is no inherent difference between these two types of silver bullion.