Ron Paul silver round proofs

[Korbin Dallas]

http://www.providentmetals.com/1-oz-ron-paul-proof-silver-round-999-fine-silver-bullion-rounds.html

Just picked some up. A little pricey, but well worth it, IMO

[ximmy]

it's for a proof, looks like they're going to do a lower priced commoners coin as well...
http://www.providentmetals.com/media/catalog/product/cache/1/image/300x/5e06319eda06f020e43594a9c230972d/f/i/file_329.jpg

[madfranks]

What does the "fifty" stand for on the reverse of the round? 50 monetary units? 50 1/50ths of an ounce of silver?

[madfranks]

And for the record, 37% over spot price is really high!!!

[Korbin Dallas]

The non-proof rounds, which are out of stock, are priced at $31.05. I wonder what the mintage numbers will be.

[Silver Rocket Bitches!]

Those rounds fetch a higher premium because they're AOCS approved. Do a ebay search for .999 aocs and you'll find a bunch.



At the present moment, AOCS traders exchange a 1oz .999 fine silver piece at a value of “fifty”. This means a merchant is willing to exchange fifty ‘dollars’ of goods or services for a 1oz AOCS Silver round. Many people ask why merchants would do this, when the “market” price of silver is not that amount.

A good way to understand this is to think about the US fiat currency. Imagine a $50 US Federal Reserve Note. Think about what it is “worth”. Most people will quickly answer “$50″. However, the note is merely paper with ink on it, worth plainly no more than a few cents. The currency is worth “$50″ only because a merchant is willing to give you $50 worth of value in exchange for it. Also, the courts have decreed Federal Reserve Notes “legal tender”, meaning that the can be used in payment of taxes and to satisfy a debt obligation.


http://www.opencurrency.com/about/history/value-for-value/

[madfranks]

At the present moment, AOCS traders exchange a 1oz .999 fine silver piece at a value of “fifty”. This means a merchant is willing to exchange fifty ‘dollars’ of goods or services for a 1oz AOCS Silver round. Many people ask why merchants would do this, when the “market” price of silver is not that amount.

A good way to understand this is to think about the US fiat currency. Imagine a $50 US Federal Reserve Note. Think about what it is “worth”. Most people will quickly answer “$50″. However, the note is merely paper with ink on it, worth plainly no more than a few cents. The currency is worth “$50″ only because a merchant is willing to give you $50 worth of value in exchange for it. Also, the courts have decreed Federal Reserve Notes “legal tender”, meaning that the can be used in payment of taxes and to satisfy a debt obligation.

So in other words their silver is also valued by fiat, but instead of the government telling you how much it's worth, they will tell you. Whatever, all I need on my silver is weight and purity, forget stamping an arbitrary value on it.