It does not matter how slight the defect is; it is still deemed damaged, which is extremely detrimental to the price of a silver round. A round can be considered damaged if it even has a minor scratch or a milk spot on it. When buying silver rounds online, if the seller claims that the rounds are “slightly,” “tiny,” or “a little” worn, it is clear that they are not in brilliant uncirculated condition. This is the case when the seller uses the word “slightly” or “tiny.” If you are purchasing bullion rounds for the sole purpose of having exposure to the price of silver, then this should not be a major concern for you. For numismatic collectors, however, the condition of the coins is essential in determining their value.
[Image Source: https://silverbacksnakes.io]
Take a look at the chart above. The premium for Brilliant Uncirculated rounds is significantly higher than the premium for normal silver rounds. After doing a little quick math, I figure that the price of BU rounds is approximately 35% higher than the price of normal silver rounds and a staggering 73.4% higher than the price of silver on the spot market. Again, if you plan on purchasing bullion in order to get exposure to the price of silver, then any impairment on the silver rounds shouldn’t pose a problem for you. Better yet, buy heavier silver bars as they have a lower premium over the spot.
[Source: https://qualitysilverbullion.com]
Generally, those silver rounds on the internet have a lower premium over spots are rounds that have some sort of flaw, which is the reason why they are being sold at a discounted price. When purchasing those rounds, you should expect the surface to have tarnish or milk spots. It is possible that the surface of the coins, as well as the edges, have scuffs or dents, which is another reason why you will be able to get them at a lower price.
There’s no Santa Claus on the silver market. If a silver round sells at a significantly lower price than others, it’s probably defective or, even worse, it could be counterfeit.
