For centuries, silver has been a valuable asset — offering an alternative to traditional forms of capital like stocks and bonds. For those interested in purchasing, it is important to have a good understanding of the different types of silver available.
A popular and highly accessible option is generic silver. So, what is it exactly? How does it differ from other forms of silver? Read on to learn more about generic silver, its characteristics, the various forms it comes in, and how to acquire it.
What Is Generic Silver?
The phrase “generic silver” refers to silver products that are produced by privately owned mints or other lesser-known manufacturers, as opposed to major ones like the U.S. Mint. Generic silver is typically .999 fine silver. This means it is composed of 99.9% pure silver, making it quite a substantial asset to have.
While this asset lacks the familiar branding and often intricate design work of traditional government-minted coins, it is a simple and practical way to acquire silver for one’s portfolio. In fact, the accessibility of generic silver is one of the primary reasons why it has become so popular.
Types of Generic Silver
Silver rounds (not to be confused with coins) are one of the most common forms of generic silver. These are coin-shaped pieces made by private mints but, unlike actual coins, are not legal tender. Silver rounds typically weigh approximately one ounce and often feature very simple designs.
Design examples include symbols of freedom, historical figures, or motifs (most often located on a coin’s back side). Silver rounds are not government-issued currency, so while they can hold some market value, they hold no face value and therefore cannot be spent.
Silver bars are another popular choice for those interested in purchasing generic silver. The bars are sized anywhere from one ounce all the way up to 100 ounces. Generic silver bars typically have unique serial numbers and sometimes also include the manufacturer’s logo.
How To Purchase Generic Silver
Generic silver can be purchased from various sources, including reputable precious metals dealers, online platforms, and local shops. When purchasing generic silver, it’s important to verify that the seller is reputable. This helps ensure both the quality and authenticity of the product.
Reputable dealers should be able to provide product certifications, transparent pricing, and buyback options. American Hartford Gold offers certified generic silver products that meet industry standards and are a valuable addition to any growing portfolio.
How To Care for Generic Silver
Being that generic silver is a tangible asset, it requires secure storage. Many precious metals owners opt to purchase a safe and store their silver in a discreet location at home.
However, for larger collections, there are various vault storage options offered by metals dealers or third-party storage facilities that may be more practical.
Precious metals storage vaults offer secure, climate-controlled environments that are specifically designed for larger-than-average silver and gold collections. These vaults provide protection against theft, fire, and other risks, ensuring your valuable assets remain in top condition.
Additionally, many third-party storage facilities are equipped with 24/7 monitoring, advanced security systems, and insurance coverage for added peace of mind. As a bonus, reputable vault providers are typically affiliated with trusted industry partners — adding to their credibility.
What Sets Generic Silver Apart?
The primary difference between generic silver assets and government-issued coins is the lack of official branding and legal tender status. Government-issued coins have collectible value and can be used as currency — this is why they are often more costly.
Generic silver, on the other hand, is purely metal content. As mentioned previously, it can hold some market value, but generic silver holds no face value and, therefore, cannot be spent like a government-issued silver coin.
American Hartford Gold is a trusted resource for purchasing silver, offering a wide range of high-quality products. This range includes government-minted coins, like American Silver Eagles, and generic silver bars and rounds.
With a strong reputation in the precious metals industry, AHG specializes in helping clients diversify their portfolios with physical silver, gold, and other precious metals — or a Gold IRA — all of which can provide stability during times of economic uncertainty.
For those who are looking to safeguard their wealth, diversify their asset collection, or both, American Hartford Gold offers a secure, trusted pathway to acquiring silver, offering ongoing professional guidance and a commitment to ensuring client satisfaction.
Final Thoughts
Purchasing generic silver can be an excellent option for those looking to diversify their portfolio with a tangible asset that offers protection against market volatility. However, as with any purchase, it’s important to do thorough research to ensure the product you are interested in acquiring comes from a reputable source.
Again, reputable dealers should be able to provide product certifications, transparent pricing, and buyback options.
Whether you are new to the world of precious metals or a seasoned buyer, American Hartford Gold is motivated to help you make informed decisions and expand your financial portfolio.
Sources:
What Is Market Value, and Why Does It Matter to Investors? | Investopedia
Face Value: Definition in Finance and Comparison With Market Value | Investopedia
