Generic Silver Coin

A generic silver coin—more accurately called a silver round—is a privately minted bullion piece made of 99.9% pure silver. It has no face value, is not legal tender, and trades close to the raw market spot price of silver.

Purity: .999 fine silver (99.9% pure).
Weight: Usually 1 troy ounce (31.1 grams).
Issuer: Private mints or refiners rather than sovereign national mints.