Two months ago, we were asked by a customer to do the pressing for some one troy ounce silver rounds. He had purchased some silver blanks from an anonymous mint, but asked us to do the pressing for him. When we received the blanks, we weighed them to make sure that the weight was correct. Our discovery was shocking!
In a tube of 20 rounds, 14 were underweight. Over 70% of the rounds this customer supplied us with were less than one troy ounce. This mint that supplied the blanks is a known as a "reputable" silver supplier that sells silver bullion all over the nation. To our dismay, those who buy from them are not receiving as much silver as they are paying for.
At Quality Silver Bullion we give you the quality you deserve. Our One Troy Ounce Guarantee assures you that each round will be weighed before it is shipped out the door. People ask us, "Don't you lose money when you make all of your rounds overweight?" In the picture above where we picked a random Walking Liberty Round and weighed it, it was 55 thousandths over 1 troy ounce. It might not seem like much, but if spot is at $15.00, then in this coin we would be giving away an extra 8.25 cents. For every 1000 rounds we mint, we are giving away an average of $82.50.
So yes. We do lose some money, but it is worth it to us to be able to assure our customers that they are making a quality silver investment.
Quality Silver Bullion . . . The Investor's Safe Haven.
I don't own a troy ounce scale but I have bought quite a bit of silver from other suppliers. When I hold my 10 ounce silver bar in one hand and 10 - 1 ounce bullion silver coins in the other, they feel completely different. I can tell that the coins are quite a bit lighter. That could be why. Thanks!
ReplyDelete-T.E.
Same here! How can people get away with that? Is there a way to be sure that a supplier guarantees the weight?
ReplyDeleteUnfortunately there is no guaranteed way to make certain that someone is selling silver bullion that really is greater than or equal to the weight pressed onto the blank. The time that goes into weighing each coin is not utilized by many mints, so the underweight coins are shipped as if they were good.
ReplyDeleteWhen you do buy rounds from a certain dealer, ask who mints them, and get them weighed on a digital troy ounce scale (while you are present) to make sure that each one is at least one troy ounce. Tell us your findings. QSB@QualitySilverBullion.com
It is interesting that 90% Morgans (actual) weigh so much less than a troy ounce yet seem to command an equal price or more than bullion weight.
ReplyDeleteSure enough, even worn ones. Seems like a superior unit would be an even 1 of some unit doesn't it.
ReplyDeleteDear QSB do you make and sell blanks, and if you do could you give details or make a video I am from the UK and think you are doing a great job.
ReplyDeleteAnyone have an idea why my qsb divisible planner silver coins are less circumference than my silver eagles, but the same thickness? And why the qsb coins are much less shiny?
ReplyDeleteNot sure if there's alerts, captnaufragio@gmail.com