Engelhard was founded in New Jersey, and it is now a subsidiary of German manufacturer BASF. Engelhard produces investment-quality platinum, palladium, silver and gold. It is the world’s largest precious metals refinery. Engelhard is recognized globally for “Good Delivery” on all of its precious metal products.

In 1902, Charles Engelhard Sr. purchased the Charles F. Croselmire Company in Newark, New Jersey. He later united several companies he had secured equity positions. These companies included Baker & Co., Irvington Smelting, Hanovia Company and American Platinum Works and the Charles F. Croselmire Company. Charles Engelhard, Sr., combined these companies into a Precious Metals Enterprise, under the name Engelhard Industries, its headquarters was located in Newark, New Jersey. The company was a producer of silver and silver alloys in mill forms and it was the operator of the world's largest precious metals smelter. In 1950, after Charles Engelhard, Sr. died, Charles Engelhard Jr. assumed control of Engelhard Industries. After taking over the company, Engelhard Jr. expanded operations to South Africa, South America and Europe and built Engelhard Industries into one of the world's leading refiners of precious metals. Unfortunately, the company (now BASF), no longer produces bullion for the public. Even though the company no longer produces bullion for investment purposes, they do still deal in the precious metals industry concerning the platinum group of metals (PGMs).

While better known for their high quality bars, the Engelhard 1oz. silver rounds were the first bullion rounds minted and marketed to the public. The company started "The American Prospector" gold and silver bullion rounds in the 1970's and continued to mint them, until 1988. "The American Prospector" silver rounds were produced in the following sizes: 1/10 Oz, 1/4 Oz, 1/2 Oz, and 1 troy Oz. Just like the gold rounds, the fractional sized silver rounds were produced in smaller amounts and are much harder to find. Due to their rarity of the fractional silver bullion rounds have higher premiums. The 1 Oz silver rounds can usually be found nearest to the spot price.

The obverse side of the round displays the image of a prospector panning for gold. In addition, the obverse side displays the words "U.S.A", the year of issue and the name of the Engelhard round, "The American Prospector." There were two different Prospector rounds minted by Engelhard, the reverse side of the round will either display the Engelhard logo or a Silver Eagle. Included on the reverse side is the weight and purity of the round. The 1 Oz Engelhard Prospectors are the most well recognized of the Engelhard rounds, and were produced from 1982 through 1988. The Engelhard ‘Large E’ logo appeared on the reverse from 1982 through 1984, and the standard ‘Eagle’ logo appeared on the reverse from 1984 through 1987 [so there were 2 different designs in 1984]. In 1985, Engelhard also created 1/10oz, 1/4oz, and 1/2oz Prospectors. These fractional rounds were sold in tubes and many full tubes are periodically available on the market. Proof varieties, which were issued in protective plastic capsules, were also produced but they are substantially more rare.