Silver rounds are privately minted. There are many refineries around the world that manufacture silver rounds. This means there are many different types of silver rounds. A silver round is 1 troy ounce of pure silver in the shape of a coin, but it is not legal tender. Each round contains a minimum of one troy ounce of 99.9% pure silver. Silver rounds are very liquid. They move up or down with the price of silver, so their value is easy to understand.