Newbie Buys His First Silver Coins

[JoppySlow]

Hi all,

So, I think I've been bitten by the silver bug. I made a bit of an impulsive purchase of four 1 oz Rounds from a site I randomly happened upon. They're from a small private mint and I'm happy with what I got for generic rounds, but one of the coins has some... blemishes, I guess you could call them?

On the reverse, the left side (maybe 20%) of the coin has a slightly different, lighter/smoother finish that leaves a visible line running downwards in front of the eagle.

And then there's a small ding/gouge right alongside the Mint Mark.

Are these things I should be concerned about? Is it worth bothering the dealer for a return/replacement for the one coin? For me, this is one of those, "Now that I know it's there, I can't NOT see it." 

I was able to determine they're made by OZ Mint, in Utah. https://oz-mint.com/

 

[Stuntman]

I suspect that the supplier would just say that it is 'one unit of bullion silver metal' and would probably not entertain the idea of replacing it with another example with fewer flaws.  

My answer would be different if it was a proof or a limited edition item sold at a premium price.

But - certainly worth asking them if you think there's a chance they'll say yes.

[gji25]

as they are bullion rounds i would,nt worry too much about it.

at the end of the day a oz of silver is a oz of silver imo 😃

 

[JoppySlow]

1 hour ago, gji25 said:

as they are bullion rounds i would,nt worry too much about it.

at the end of the day a oz of silver is a oz of silver imo 😃

 

Hmmm... that got me curious. I weighed the coin on my kitchen scale and it came up as 1.1 for ounces, 31 for grams. (1 oz = 28.35g)

While it's not a precision instrument (doesn't have decimals for grams), it does show exactly 30g when I put 6 regular nickels on it. Modern nickels weigh 5g, so I know it's fairly accurate.

Is that something to be suspicious of?

These are Walking Liberty coins, btw. I'm kind of partial to those at this early stage in my journey. And I happen to really like this particular design for the reverse.

Even though I'm mainly interested in them as a store of value, I am enjoying the aesthetic appeal of some designs more than others.

[James32]

11 minutes ago, JoppySlow said:

Hmmm... that got me curious. I weighed the coin on my kitchen scale and it came up as 1.1 for ounces, 31 for grams. (1 oz = 28.35g)

While it's not a precision instrument (doesn't have decimals for grams), it does show exactly 30g when I put 6 regular nickels on it. Modern nickels weigh 5g, so I know it's fairly accurate.

Is that something to be suspicious of?

These are Walking Liberty coins, btw. I'm kind of partial to those at this early stage in my journey. And I happen to really like this particular design for the reverse.

Even though I'm mainly interested in them as a store of value, I am enjoying the aesthetic appeal of some designs more than others.

1oz in precious metals is known as a troy oz.

Therefore it should weigh 31.103 grams to be precise ( call it 31.1g) not 28.35g

Unless you're scales has an oz troy button, then just weigh in grams ( 31.1grams)

Edited August 4, 2022 by James32

[TheShinyStuff]

If they are from a reputable dealer then don't worry too much.

The weight is fine, although as you say kitchen scales aren't likely to be especially accurate, but an ounce, in precious metal terms is a troy ounce, which is 31.1g

Also, silver is soft (relatively) so scratches and dings are not unusual for bullion.

That said  if you're not happy then by all means consider asking for a refund/exchange, but a previously said, I'm not sure this would be entertained by the dealer.

[JoppySlow]

26 minutes ago, James32 said:

1oz in precious metals is known as a troy oz.

Ah, ok... I have seen some coins with "troy oz" marked on them. That completely slipped my mind when I was weighing them.

I am leaning towards "not gonna' worry about it."

Thanks for all the replies. 

[gji25]

we all learn something new every day 👍

[Orpster]

It would not bother me in the slightest for a bullion round, weight is correct pm's are troy ounce not ounce

[JoppySlow]

16 hours ago, gji25 said:

we all learn something new every day 👍

Speaking of which... I just discovered this morning that this "design" that I like so much is simply a replication of the Walking Liberty Half Dollar. 

[gji25]

well blow me down with a feather 😞

[LawrenceChard]

On 05/08/2022 at 00:16, JoppySlow said:

Hmmm... that got me curious. I weighed the coin on my kitchen scale and it came up as 1.1 for ounces, 31 for grams. (1 oz = 28.35g)

While it's not a precision instrument (doesn't have decimals for grams), it does show exactly 30g when I put 6 regular nickels on it. Modern nickels weigh 5g, so I know it's fairly accurate.

Is that something to be suspicious of?

These are Walking Liberty coins, btw. I'm kind of partial to those at this early stage in my journey. And I happen to really like this particular design for the reverse.

Even though I'm mainly interested in them as a store of value, I am enjoying the aesthetic appeal of some designs more than others.

As you just found out, perhaps you need to go metric, although there is nothing much wrong with troy ounces.

The USA went decimal with it currency, a few hundred years ago, and well before the UK, it's time go get metrication finished.

You could also start thinking about litres instead of gallons. It's even worse that American gallons are only 6 pints, compared with 8 for Imperial gallons.

And  of course, kilometres instead of miles, and metres instead of feet and yards.

😎

[HerefordBullyun]

24 minutes ago, LawrenceChard said:

. It's even worse that American gallons are only 6 pints,

😎

Well you have to say this aloud to get my joke but a hospice is about half a gallon!

Edited August 6, 2022 by HerefordBullyun

[Bigmarc]

1 hour ago, LawrenceChard said:

even worse that American gallons are only 6 pints, compared with 8 for Imperial gallons.

Oh I do hope that comes up in a quiz one day. 

 

[dicker]

One of the most confusing elements of us measurement is the Cup (used in cooking).  Whilst it means 16 tablespoons it somewhat arbitrary.

One might suppose a cup in the U.K. is smaller than a sup in the US….

Having been to Disney (under great sufferance), and seen folk having a mid morning snack of a Turkey drumstick and a litre of Coca Cola or similar, I can confirm things are frequently bigger in the US.

 

[JoppySlow]

Oh, my... @HerefordBullyun, thank you for including that link to the "significant videos" in your sig. That will keep me occupied for a good while. 😄

[Bigmarc]

5 hours ago, dicker said:

I can confirm things are frequently bigger in the US.

And their shoe size is half a size bigger 

[SidS]

Well if you're not that happy with your first silver purchase, use it as a pocket piece - it's always nice to carry around a chunk of silver.

Subsequent purchases hopefully will be more satisfying.

[HerefordBullyun]

4 hours ago, JoppySlow said:

Oh, my... @HerefordBullyun, thank you for including that link to the "significant videos" in your sig. That will keep me occupied for a good while. 😄

Not a problem enjoy!

[Lyrinn]

As your first piece of silver (which I assume it is?), keep it. Never throw it away, never sell it.

I think most stackers and collectors keep their first purchase as a memento. If not their first ever coin/bar/round, then they certainly keep something akin to it as a memory.

For example, my stupid, ill-informed self bought from a UK dealer because the dealer I wanted to use (Chards) at the time didn't have inventory. I ended up paying a high premium and would only just be breaking even if the price continued to rise. To make sure that this terrible pain and life-lesson lasts me a lifetime, I am going to be holding all parts of that particular purchase until I am about ready to shuffle off this mortal coil. @LawrenceChard has yet to forgive me too.

I should have just waited like a good, sensible monkey, but, no-no, I had to go in with two feet, the kitchen sink, the clothes on my back, et al.

[JoppySlow]

42 minutes ago, Lyrinn said:

As your first piece of silver (which I assume it is?), keep it. Never throw it away, never sell it.

I've been carrying that particular one, with the "blemishes", around in my pocket. I'm growing rather fond of it. 😄

There is definitely something unique about holding precious metals in your hand for the first time.  

[edit]- @SidS Oh, just saw your post... yeah, what I said above. Looks like it's now part of my EDC (Every Day Carry). 😎

Edited August 7, 2022 by JoppySlow

[LawrenceChard]

11 hours ago, dicker said:

One of the most confusing elements of us measurement is the Cup (used in cooking).  Whilst it means 16 tablespoons it somewhat arbitrary.

One might suppose a cup in the U.K. is smaller than a sup in the US….

Having been to Disney (under great sufferance), and seen folk having a mid morning snack of a Turkey drumstick and a litre of Coca Cola or similar, I can confirm things are frequently bigger in the US.

 

Yes, I also notice that most American women take a large cup size, although I think the UK is catching up!

😎

[LawrenceChard]

1 hour ago, Lyrinn said:

As your first piece of silver (which I assume it is?), keep it. Never throw it away, never sell it.

I think most stackers and collectors keep their first purchase as a memento. If not their first ever coin/bar/round, then they certainly keep something akin to it as a memory.

For example, my stupid, ill-informed self bought from a UK dealer because the dealer I wanted to use (Chards) at the time didn't have inventory. I ended up paying a high premium and would only just be breaking even if the price continued to rise. To make sure that this terrible pain and life-lesson lasts me a lifetime, I am going to be holding all parts of that particular purchase until I am about ready to shuffle off this mortal coil. @LawrenceChard has yet to forgive me too.

I should have just waited like a good, sensible monkey, but, no-no, I had to go in with two feet, the kitchen sink, the clothes on my back, et al.

There is nothing to forgive, but thanks for the honorable mention.

It is in accord with one of my views, that our customers tend to be better informed than most, whether initially or eventually. 

It is also easier and more pleasant to be dealing with well informed customers.

This all means it is mutually beneficial.

😎

[HerefordBullyun]

On 07/08/2022 at 22:31, LawrenceChard said:

There is nothing to forgive, but thanks for the honorable mention.

It is in accord with one of my views, that our customers tend to be better informed than most, whether initially or eventually. 

It is also easier and more pleasant to be dealing with well informed customers.

This all means it is mutually beneficial.

😎

I was going to comment and take the mick, but nahhhhhhh... i will save it for another day.....

[JoppySlow]

I bought a few more of these coins - I must confess to being one of the peasants with but a mere pittance to invest, so yes, my stacking is going to be bit by bit.

A couple of them have a different kind of "blemish" I'm curious about. I understand that it doesn't affect the value, but it's still a minor annoyance. Can someone tell me just what it is that might be causing this?

I've watched numerous Youtube videos about "generic" rounds and haven't seen any examples shown with this kind of tire tread pattern.