It has been a mixed week, where the monetary metals have taken a different path than the industrial metals. Gold and silver rallied up 4%, with gold at $1,964 and silver at $23.15. Platinum is up a fraction at $902, and palladium is down 3% for the week to $1,181.
From a year ago today, gold is up 19%, silver is up 23%, while platinum is down 1%, and palladium is down 42%.
Silver bullion comes in all shapes and sizes, with bars and rounds making up most silver bullion products available for sale. Silver bullion is valued based on weight and purity and offers the lowest premiums when buying or selling physical silver. Silver bullion products can be manufactured by private mints.
Silver coins are legal tender coins issued and guaranteed by national governments, with a face value denominated in local currency. Silver coins that are mass-produced demand a slightly higher premium than silver bars or rounds but still derive most of their value from the intrinsic value of the silver used to produce them.
Silver coins can also be considered numismatic, based on the rarity or historical significance of the coins produced.