mBridge and Alloy by Tether Bring Tokenized Physical Gold to Digital Currencies

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There are early signs that parts of the world, led by BRICS countries, are returning towards a gold standard for international trade.

As the world races towards a new gold standard has a variety of central banks around the world taking part in various experiments with new forms of international trade.

mBridge – Gold Backed Central Bank Digital Currency (CBDC)

As a result of the sanctions against Russia, many foreign counties and central banks are looking for alternatives to trading in the US dollar.

Saudi Arabia has now joined the mBridge program as a full member, a de-dollarized trading system developed by the Bank of International Settlements (BIS) and China that uses a gold-backed CBDC for international trade.

The mBridge project began in 2021 as an international collaboration between the BIS, The People’s Bank of China, the Bank of Thailand, Central Bank of United Arab Emirates and the Hong Kong Monetary Authority.

Many of countries have joined the mBridge project as observers, while some, like Saudi Arabia, have joined on as full members.

BRICS was established as an international trade group comprised of Brazil, Russia, India, China and South Africa. Recently, Saudi Arabia announced that they were also considering BRICS membership.

Tether Launches Gold-Backed US Dollar Stablecoin

Gold-backed stablecoins represent a fusion of traditional asset stability and modern digital currency flexibility by providing a stable, secure, and transparent way to tokenize gold through blockchain technology.

The recently launched Alloy by Tether product is a dollar-based stablecoin backed by tokenized physical gold bars. Tether Gold (XAUT) represents ownership in one troy ounce of gold on a specific gold bar that is stored in Swiss vaults. Token holders can access the details of the gold bars they own through the app.

BRICS & the Petroyuan vs the Petrodollar

In 1974, the United States and Saudi Arabia reached an agreement that established the framework for the petrodollar system, whereby Saudi Arabia would sell oil exclusively in U.S. dollars.

Led by Henry Kissinger and William Simon, the agreement cemented the U.S. dollar’s status as the global reserve currency by ensuring that oil was sold exclusively in dollars.

The end of the petrodollar agreement occurred when India began trading oil for yuan with China, essentially creating the petroyuan as a new global currency for oil trade.

The global demand for US Dollars has already begun to shrink as Gulf nations are now accepting the yuan for oil. Saudi Arabia’s early participation in the mBridge program signifies that they oil rich country is considering trading oil in other currencies that are traded within the CBDC system.

Why are Countries Losing Faith in the Dollar?

Ever since the Hunt Brothers cornered the silver market during the 1980s and were convicted of price manipulation, there has been an ongoing suspicions that the major Wall Street Banks have been involved in the same activities.

In the US there have been criminal convictions of numerous of traders from JP Morgan Chases, Deustche Bank, UBS, Scotia Bank and others in recent years. One of those convicted was a even seated on the LBMA Board of Directors.

Part of the sanctions leveled against Russia after the war in Ukraine broke out in 2022 was expulsion of Russian mined and refined gold from the LBMA and western markets. In response, Russia established the Moscow World Standard, an alternative trading market for precious metals outside of Western Banking Institutions.

Project mBridge Observers

Asian Infrastructure Investment Bank, Bangko Sentral ng Pilipinas; Bank Indonesia; Bank of France; Bank of Israel; Bank of Italy; Bank of Korea; Bank of Namibia; Central Bank of Bahrain; Central Bank of Chile; Central Bank of Egypt; Central Bank of Jordan; Central Bank of Malaysia; Central Bank of Nepal; Central Bank of Norway; Central Bank of the Republic of Türkiye; European Central Bank; International Monetary Fund; Magyar Nemzeti Bank; National Bank of Cambodia; National Bank of Georgia; National Bank of Kazakhstan; New York Innovation Centre, Federal Reserve Bank of New York; Reserve Bank of Australia; South African Reserve Bank; and World Bank

Upcoming Los Angles Area Coin Shows

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Coin shows are events where coin collectors, dealers, and enthusiasts gather to buy, sell, trade, and learn about coins and other numismatic items. They are also events that will have local precious metals dealers from the Los Angeles area onsite.

In the Los Angeles area, you can usually score great deals on hard to find numismatics and collectibles and these events are essential hubs for the numismatic community with a variety of activities and opportunities. Some are small local gatherings, while others are large international conventions.

Southern California Coin Shows

Van Nuys Coin Show

June 23, 2024 – Van Nuys Coin Show – Van Nuys Masonic Hall – 14750 Sherman Way – Van Nuys, CA 91405 Directions


The Van Nuys Coin Show is a staple event for the numismatic community in the central San Fernando Valley. The exact year of its inception is not specified, but it has built a reputation over time for its consistency and the quality of its offerings.

North County Monthly Coin Show

July 7, 2024 – North County Monthly Coin Show – Embassy Suites Anaheim Hills – 3100 East Frontera, Anaheim, CA 92806


The North County Monthly Coin Show is a popular event held in Anaheim that caters to coin collectors, dealers, and enthusiasts. Investors and collectors can find a variety of dealers and sellers to buy, sell, and trade coins and other numismatic items. This show is held on the first Sunday of every month, except for months when the Buena Park Coin Show takes place.

Coinarama – San Diego

July 13-14, 2024 – Coinarama – San Diego – Liberty Station Conference Center – 2600 Laning Road – San Diego, CA 92106

Coinarama is one of San Diego’s premier coin shows, attracting coin collectors, dealers, and enthusiasts from across the region for more than 67 years. It provides a platform for buying, selling, trading, and learning about coins and other numismatic items.

Long Beach Expo

Sept 5, 2024 – Long Beach Expo – Long Beach Convention Center – 100 South Pine Ave – Long Beach, CA 90802

The Long Beach Expo has been operating since 1964, making it one of the longest-running coin shows in the country. The show has built a reputation for its high-quality exhibits and extensive range of numismatic offerings.
The show is organized by Collectors Universe, the parent company of Professional Coin Grading Service (PCGS), one of the leading coin grading companies in the world.

Buena Park Coin Show

Sept 14, 2024 – Buena Park Coin Show – Retail Clerks Hall – 8550 Stanton Ave – Buena Park, CA 90620

The Buena Park Coin Show is a key event in the Southern California numismatic community. The show features over 50 dealers offering a wide range of U.S. and world coins, currency, tokens, medals, bullion, and numismatic supplies.

2024 Australian Silver Coins

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The Perth Mint is best known for its high-quality bullion coins, innovative minting techniques, historic and commemorative coin production. Its iconic coin series, such as the Australian Kangaroo, Koala, and Kookaburra make it a favorite among investors and collectors.

For many, the first thing that comes to mind when thinking about the Perth Mint is the popular silver coin series’, such as the Koala and the Kookaburra, each featuring new designs each year.

All of the 2024 mintage year coins contain a new obverse design that was created by Dan Thorne, Royal Mint illustrator and coin designer. The design features the official Commonwealth Effigy of King Charles III that is featured on all newly minted Australian legal tender coins.

Koala Silver Coin

The Koala Silver coin from the Perth Mint is a highly sought-after bullion coin due to its annually changing designs and limited mintage.

2024 1 oz Koala Silver Coin
2024 1 oz Koala Silver Coin

First issued in 2007, since then, it has become a favorite among collectors and investors due to its annual design changes and limited mintage. Collectors and investors alike appreciate the variety and beauty of the designs.

The 2024 1 oz Koala Silver Coin shows the lovable marsupial in a gum tree that was designed by artist Ing Ing Jong. Inscriptions are included for the weight, purity, year-date of minting and the P hallmark for the Perth Mint.

Due to the limited mintage and demand from collectors, some investors buy sleeves of 20 coins during the initial offering and hold on to them for a few years for premiums to rise.

In addition to the 1 oz silver coin, the Koala Series is also available as a 1 kilo Koala Silver Coin. The 1 oz Koala has an annual mintage of 300,000 coins.

Kookaburra Silver Coin

First issued in 1990, the Australian Kookaburra coin features a new design each year depicting the kookaburra, another iconic Australian bird.

2024 1 oz Kookaburra Silver Coin
2024 1 oz Kookaburra Silver Coin

The 2024 issue is the 34th coin in the series and is the first to feature a new portrait of King Charles III on the obverse. 

The 2024 1 oz Kookaburra Silver Coin features the dynamic bird in flight on the reverse, while carrying a small snake in its talons with the moon in the background. This side includes the year-date of minting, the weight, purity and a special privy mark to commemorate the 125th anniversary of the mint.

The Kookaburra series is available in various weight denominations, each with its owned declared mintage limits.

  • The 1 oz silver coin has an annual mintage of 500,000 coins
  • The 10 oz Kookaburra Silver Coin has an unlimited annual mintage
  • The 1 kilo Kookaburra Silver Coin has an unlimited annual mintage

While larger sizes have an undeclared mintage amount, the coins are minted on demand from investors and collectors throughout the year.

Swan Silver Coin

The Swan Silver Coin is a prestigious and sought-after bullion coin series produced by the Perth Mint. Known for its limited mintage, exceptional quality, and exquisite design, the Swan series has garnered significant attention from collectors and investors since its inception.

2024 1 oz Swan Silver Coin
2024 1 oz Swan Silver Coin

The Perth Mint first issued the Swan Silver Coin in 2017. Since its debut, it has become one of the mint’s flagship series, celebrated by collectors for its elegant and detailed depiction of the swan, a bird with strong historical connection to Australia.

Each year, the Swan Silver Coin features a new design, showcasing the swan in various artistic representations.

The reverse of the 2024 1 oz Swan Silver Coin features a depiction of an elegant swan splashing down into the water with the moon above the horizon in the background, capturing the natural beauty and deftness of this iconic bird. Surrounding the swan includes inscriptions that read “2024 1 OZ 9999 AUSTRALIAN” and “SILVER SWAN” with an elegance that the Perth Mint is renowned for.

The Swan Silver Coin is limited to just 25,000 pieces each year.

2024 125th Anniversary 1 oz Silver Coin

2024 1 oz 125th Anniversary Silver Coin
2024 1 oz 125th Anniversary Silver Coin

To celebrate the 125th Anniversary of their founding, the Perth Mint has issued a special 1 oz silver coin to commemorate the event. 

The 2024 1 oz 125th Anniversary Silver Coin features three of the mints favorite animals that are indigenous to Australia, the kangaroo, koala, and the kookaburra.

The reverse design shows a bouncing kangaroo in the center with a tree in the background. A koala bear is shown to the left, while a kookaburra is shown on the right. Below is a banner that reads “1899 The Perth Mint 2024.”

The 125th Anniversary Silver coin has a minted limited to only 125,000 coins worldwide and is close to selling out at the mint.

Kangaroo Silver Coin

The silver version of the Kangaroo series was first issued in 2016 and is well-known for its depiction of the iconic red kangaroo. This annual issues has had several design improvements over the years to help improve security with anti-counterfeiting features.

The 2024 Australian Kangaroo 1 oz Silver Coin is the first to feature the new obverse of King Charles III.

The coin features the red kangaroo in stride on the reverse, set against a stylized sunburst background.

2024 1 oz Kangaroo Silver Coin
2024 1 oz Kangaroo Silver Coin
  • Each coin includes a tiny, micro-laser engraved letter “A” in the reverse design that is visible only under magnification.
  • The coin’s background incorporates precisely engraved fine radial lines that create a complex pattern that is challenging to reproduce.

The Kangaroo Series is minted based on demand from investors with no declared mintage.

The Silver Kangaroo often has a lower premium over the spot price of silver compared to other sovereign investment coins. 

When taking into account the lower premiums, security features and the reputation of the Perth Mint, the Kangaroo Silver coin is superior to other sovereign investment coins.

As legal tender, the coin is considered money throughout Australia. Each coin is minted from .9999 fine silver, which is refined by the Perth Mint.

Tubes of Silver Kangaroos are available containing 25 coins. For serious investors, 250-coin Kangaroo mini-Monster Boxes are available.

Perth Lunar Silver Coin

2024 1 oz Lunar Dragon Silver Coin

The Perth Lunar Series is now in its third iteration. The series renowned for the beautiful designs that celebrate the animals of the 12 year Chinese Zodiac cycle. The series began its first cycle in 1996 and continued with the Lunar II series in 2008.

The 2024 1 oz Lunar Silver Coin features a wood dragon on the reverse, a revered symbol in Chinese culture. The dragon is shown chasing the pearl of wisdom.

BRICS: Developing Platform for National Currency Transactions

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At a BRICS 2024 meeting in Russia, Foreign Minister Victor Lavrov told attendees that BRICS is prioritizing the creation of a platform that will enable member states to conduct cross-border transactions in national currencies.

While speaking at a meeting of foreign ministers in Nizhny Novgorod, Russia, Lavrov said BRICS was “actively working to implement the decisions of the Johannesburg summit last year, particularly when it comes to improving the international monetary and financial system, developing a platform for settlements in national currencies in mutual trade.”

The BRICS economic bloc is promoting itself to developing nations that it is an alternative to Western dominated G7 financial markets.

BRICS membership is growing. So far this year Iran, Ethiopia, Egypt, and the United Arab Emirates have become full members. Joining the founding members Brazil, Russia, India, China and South Africa.

Saudi Arabia and Argentina were both received official invitations to join. Saudi Arabia has confirmed its interest, while Argentinian President Javier Millei has declined the invitation.

Saudi Arabia’s central bank recently joined the cross-border CBDC project called mBridge, a project led by the central bank of China in partnership with the Bank of International Settlements (BIS).

mBridge is seen as a likely replacement for the SWIFT network, which was introduced in the 1970s as a way to facilitate international payments between banks and financial institutions.

Sentiment among leaders of developing nations see the BRICS alliance as a way to boost their own local economy’s by using local currency to conduct cross-border transactions.

Gold nugget worth more than $80,000 stolen from Long Beach Expo Coin Show

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A gold nugget worth more than $80,000 was stolen from the Long Beach Expo’s coin show in California.

Surveillance images from the convention center showed the man putting his finger under the lip and open the display case and looking over his shoulder and pocketing the nugget before walking away.

The owner, Bob Campbell, owner of All About Coins shop in Salt Lake City, said that the nugget was reportedly discovered in the Yolo River near Weed, California during the California Gold Rush in 1849. He stated that the nugget has been privately owned for the last 175 years.

Long Beach Police are investigating and Campbell is offering a $10,000 reward.

Numerous notable gold nuggets have been discovered in Northern California’s gold country. In 2014, the “Butte Nugget”, a 75 troy ounce chunk of gold was discovered and was sold to a private collector for $400,000.

In 1977, a gold prospector using a metal detector unearthed the “Mojave Nugget” in Kern County, California. The 156 troy ounce nugget has a melt value of more than $370,000 and was donated to the Natural History Museum of Los Angeles County.

Gold Bars are a Top Selling Item at South Korean Convenience Stores

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Young investors in South Korea are getting into gold buying because it’s easy and accessible in vending machines in convenience stores.

CU, the country’s largest convenience store chain partnered with KOMSCO, the national mint to offer fractional gold bars in their stores.

The KOMSCO gold bars, range in size from as small as 1/10 of a gram to as large as 1.8 grams have caught the attention of millennials and they continue to be a top seller.

Another convenience store chain, GS Retail Co, began testing gold wafer bar vending machines in their stores in 2022, and now has them in all of their 30 stores throughout the country.

The in-store program launched on April 1 and 42% of the original sold within the first 15 days. One-gram gold bars with personalized messages sold out in only two days. 

It’s being reported that younger demographics, particularly those in their 20s and 30s are seeking a reliable store of value given the growing geopolitical tensions. Similar demographics in China have been buying gold beans, which are small blobs of gold with similar weight to the bars sold in Korea.

In the United States, millennials allocate roughly 17% of their investment holdings in gold, either in ETFs, mining stocks and physical gold bullion bars.

Some attribute this to younger generations seeing the stock market as a rigged system, along with concerns for the possibility of a recessions.

The South Korean economy has been suffering from high inflation, with retail prices of grocery store staples up as much as 20%.

According to the World Gold Council, investor demand for gold coins and bars increased by 27 percent in the first quarter of this year, compared to the same period last year, representing a sharp increase.

Many US consumers have grown wary of the economy and high inflation have been buying gold bars from Costco.

It’s mainly the more affluent Americans who can afford to spend $2,400 on the 1 oz PAMP Suisse gold bars while stocking up on dog food and toilet paper. However, a large assortment of fractional gold bars from online precious metals dealers that are available at price points that are more affordable.

Several companies have attempted gold bar vending machines in locations throughout the United States. The Gold To-Go vending machine, popularized by its location at the Golden Nugget in Las Vegas, had additional locations in Boca Raton Florida, New York City, NY and Atlantic City, NJ.

Today, GoldATM operates a network of vending machines in four states that dispenses Goldback notes.

WGC reports that physical gold ETFs see first net inflows in 12 months in May

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Gold prices have had pullback in recent weeks, after hitting an all-time record high of 2450.05 in May. In a report on Gold ETFs from the World Gold Council, inflows amounted to $529 million dollars, bringing total assets under management for gold ETFs up 2% to $234 billion.

This marks the highest levels since April 2022. While collectively, Gold ETF funds hold 3,088 tons of physical bullion, down from levels in 2023.

The WGC highlighted that European and Asian funds were the primary drivers of global inflows. May represented Asia’s 15th consecutive month of inflows, while Europe recorded its first positive flow since last May. In contrast, North American fund flows turned slightly negative.

Gold Replacing the Dollar as Reserve Currency for BRICS Members

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In a significant shift in global financial dynamics, the Federal Reserve has acknowledged that the BRICS countries—Brazil, Russia, India, China, and South Africa—are progressively distancing themselves from the U.S. dollar as a reserve currency. This move is part of a broader strategy where countries are opting to transact with local currencies, signaling a potential reduction in the dollar’s dominance in international trade.

Central banks across the Global South have been quietly bolstering their gold reserves in recent years, while the US Treasury Bond market has been in a state of flux.

China plays a major role and has been consistently purchasing gold for 18 consecutive months. Since the start of the year they have sold a staggering $53.3 billion worth of U.S. Treasury Bonds.

Other BRICS countries are also following suit in enhancing their gold reserves. Russia, for instance, maintains official gold reserves of 2332.74 tons as of the end of 2023. The country’s significant gold production capabilities, coupled with the massive Sukhoi Log gold deposit—one of the world’s largest, estimated at 40 million troy ounces of gold—underscores Russia’s potential to further increase its gold reserves.

India has taken a step towards reclaiming its gold reserves by repatriating a portion of its gold from London, indicating a strategic move towards self-reliance and control over its financial assets.

South Africa, despite holding only 125 tons of gold reserves, possesses vast untapped gold deposits that could be utilized in the future.

Brazil, with 129.65 tons of gold in its reserves, has taken a proactive stance in this financial evolution. The country has recently announced a new trade agreement with China, which allows for transactions to be settled in their local currencies, the real and the yuan. This bilateral agreement is a significant step towards reducing the dollar’s role in international trade and enhancing the use of local currencies.

Saudi Arabia has expressed strong interest in joining the BRICS alliance. Rumors are circulating on social media suggesting that Saudi Arabia may have already officially joined the BRICS treaty, although official confirmation is yet to be made.

This potential addition to the BRICS alliance could have profound implications for the global financial landscape, particularly for the petrodollar system established in 1974 between the United States and Saudi Arabia. This system, which mandates that oil transactions be conducted in U.S. dollars, has been a cornerstone of the dollar’s dominance.

Saudi Arabia and China signed a local currency swap agreement last year which allows for the trading of oil in the yuan instead of the dollar. Additional, Saudi Arabia has joined a cross-border CBDC project sponsored by the Bank of International Settlements (BIS), which began in 2021 and has reached the level of a minimally viable product. The project already includes China, Hong Kong, Thailand and the UAE.

Turkey, another country mentioned in the Federal Reserve’s report, has been actively buying gold, becoming the largest buyer in several months during recent years. This trend reflects Turkey’s efforts to diversify its financial reserves and reduce its dependence on the dollar.

This shift by the BRICS countries and other nations towards local currency transactions and gold as a reserve asset represents a significant challenge to the U.S. dollar’s global supremacy. It suggests a move towards a multipolar financial system where various currencies and assets play a more significant role in international trade and the global economy.

China’s Belt & Road Initiative (BRI)

China’s actions appear to support the ongoing Belt and Road Initiative (BRI), a global strategy launched by the Chinese government in 2013 aiming to provide capital to developing countries for modernization and infrastructure.

In exchange, China gets preferred access to the country’s resources, including precious metals, minerals along with cheap labor. While simultaneously dumping excess industrial capacity of inferior products into developing markets.

China operates many strategic mining operations throughout Africa, some of which have been reported as using slave labor to harvest cobalt under harsh conditions.

In South America, China owns two of the five largest copper mines in Peru – the Las Bambas Project and the Toromocho Project. Other large scale investments include the a MegaPort in the Peruvian town of Chancay, while building a $50 billion dollar train line through the Andes and Amazon to connect ports in Peru to Rio de Janeiro. The train line is expected to cut through the Amazon Rainforest, which is already being utilized to exploit minerals and other resources from the Amazon.

The newly established Bank of BRICS is headquartered in Brazil, where China has already invested more than $71 billion in infrastructure. China and Brazil have already established a local currency trade agreement, with trade in the yuan ramping up, while China is pushing the digital yuan, the CBDC project and other cross-border payment systems.

In Argentina, Chinese firms own or have large partnership stakes in 6 of 16 active lithium mining projects. Argentina has also received funds for almost a dozen infrastructure projects ranging from railways and dams to solar power and nuclear power plants.

Bretton Woods Accord

The U.S. dollar became the world’s reserve currency in 1944, following the Bretton Woods Conference, where delegates from 44 countries agreed to the creation of the International Monetary Fund (IMF) and the World Bank. This agreement established the U.S. dollar as the primary reserve currency, backed by the world’s largest gold reserves at the time. This decision was made to provide stability and prevent currency wars, and it propelled the U.S. dollar to its current position as the world’s leading reserve currency.

Collapse of Bretton Woods

By the late 1960s, the U.S. was facing a growing deficit due to its spending on the Vietnam War and social programs, which led to a decline in the value of the dollar. The U.S. was simultaneously experiencing inflation, further weakening the dollar.

In 1968, the U.S. stopped converting dollars into gold, which was a key part of the Bretton Woods system. This decision was made because the U.S. was running out of gold reserves to back the dollar.

In 1971, President Richard Nixon announced that the U.S. would no longer convert dollars into gold at a fixed rate, effectively ending the Bretton Woods system. Known as the Nixon Shock, this decision had ripple effects that changed the face of world trade, leading the country into a long, deep recession with high unemployment.

The Nixon Shock marked a turning point in the global monetary system, signaling the end of the post-World War II era of fixed exchange rates and the beginning of a more flexible and dynamic system.

Petrodollar Era

The Petrodollar agreement helped stabilize the U.S. economy by ensuring that oil-producing countries would continue to use U.S. dollars for their oil transactions. This created a consistent demand for U.S. dollars, which helped maintain the dollar’s value and the U.S. economy’s stability.

Henry Kissinger, the U.S. Secretary of State under President Richard Nixon, played a key role in negotiating the agreement with Saudi Arabia in 1973-1974. The high-level terms of the Petrodollar agreement were that Saudi Arabia would price its oil exports in U.S. dollars and invest its surplus oil proceeds in U.S. Treasuries and other U.S. assets. In return, the U.S. would provide military aid and equipment to Saudi Arabia.

Today, the agreement’s effectiveness is being challenged by various factors, including the weaponization of the dollar with sanctions against Russia, the emergence of a BRICS currency and the increasing role of renewable energy sources.

How and Where to Sell Gold Coins

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Central Banks Continue to Buy Gold

Inheriting a collection of gold coins and bars can be a valuable and exciting opportunity. However, navigating the best ways to sell these items to get the highest possible value can be a daunting task.

There are various ways to sell gold coins and bars, including online dealers, local coin stores, gold refiners, online forums and social media, eBay, pawn shops, and “We Buy Gold” stores. We’ll also discuss the pros and cons of each method and provide a recommendation for the best way to sell your inherited gold items.

Selling to an Online Dealer

One of the most convenient and efficient ways to sell gold coins and bars is through an online dealer. These companies specialize in buying and selling precious metals, making the process quick and easy.

Reputable online dealers such as APMEX, JM Bullion, and Bullion Exchanges have streamlined processes.

The first step is to contact the dealer and provide details about the all of the items you wish to sell and the condition of each item. Some dealers may request photos of the items. It’s a good idea to get price quotes from at least 3 dealers.

The dealer will offer a preliminary quote based on the current spot gold price and any numismatic value.

If accepted, you’ll ship the gold to them, often with insurance and tracking provided. Upon verification of the items, payment is usually made via check, bank transfer, or PayPal.

Depending on the dealer, the price may not be fully locked-in until they are in receipt of your metals. Be sure to ask each dealer for details of their process.

Online dealers typically pay close to the spot price for gold coins and bars, with some offering a small premium for numismatic items.

Pros and Cons of Selling to an Online Dealer

  • Pros: Convenience of selling from home, simple process, competitive prices, transparency.
  • Cons: Shipping time and risks, potential for lowball offers, payment can be longer than local options.

Selling to a Local Coin Store

Local coin stores are a traditional option for selling gold coins and bars. Visit the store with your items for an appraisal. The store owner or clerk will assess the gold’s weight, purity, and condition, and provide an offer. Transactions are typically completed on the spot with immediate payment.

Pros and Cons of Selling to Local Coin Store

  • Pros: Local presence, in-person evaluation, face to face transactions allow for negotiation, quick transaction.
  • Cons: Lower prices, limited market exposure, avoids shipping risks.

Selling to a Gold Refiner

Gold refiners buy gold items to melt down and purify. Contact a refiner to get a quote based on the gold’s weight and purity. Ship your gold to the refiner, who will assay it to determine its exact content. After verification, the refiner pays you, usually 3% to 6% below the current spot price minus refining fees.

However, refiners may not be interested in numismatic items.

Pros and Cons of Selling to a Gold Refiner

  • Pros: Competitive prices, quick transaction.
  • Cons: Refining fees, Limited market for numismatic items, potential for lowball offers.

Selling on eBay

Selling gold coins and bars on eBay can be a way to reach a larger audience and potentially get a higher price for your items. Depending on any numismatic value or rarity of your gold coins, selling the item as an auction may yield a higher price.

Selling on eBay requires creating a listing, taking photos, and dealing with shipping and payment logistics. Additionally, the eBay Buyer Protection can cause problems for sellers if the buyer files any type of claim, real or fraudulent.

Additionally, eBay takes a percentage of the sale, plus accepting payment via PayPal comes with additional fees. To sell gold coins on eBay comes with the realization that the total fees may be up to 15%.

eBay also offers a service that purchases precious metals. However, it is a referral service that is handled by APMEX. If you’re considering this option, it may be worthwhile to also get a price quote directly from APMEX and compare the results.

Pros and Cons of Selling on eBay

  • Pros: Wide audience, potential for higher prices.
  • Cons: Listing and shipping logistics, eBay fees, potential for scams.

Selling to a Pawn Shop

Pawn shops are a quick and easy way to sell gold coins and bars. Bring your items to the shop for an appraisal. The pawnbroker will offer a price based on the current gold market.

However, Pawn shops typically pay significantly less than other methods. Pawn shops are in the business of making a profit, so they will offer you a price that allows them to resell your items at a markup.

Pros and Cons of Selling to a Pawn Shop

  • Pros: Quick transaction, no shipping required.
  • Cons: Significantly lower prices, limited market exposure, lack of expertise in numismatic values.

Selling to a “We Buy Gold” Store

“We Buy Gold” stores specialize in purchasing gold items are similar to pawn shops in that they offer quick transactions and less money for your gold.

These stores are often found in shopping malls or strip malls and are primarily interested in buying gold for its melt value.

Visit the store with your items and the staff will evaluate them and make an offer based on weight and purity.

Pros and Cons of Selling to “We Buy Gold” Store

  • Pros: Quick transaction, no shipping required.
  • Cons: Significantly lower prices, limited market exposure, lack expertise in numismatic values.

Key Takeaways When Selling:

  • Compare gold coin buy prices from multiple online dealers
  • Contact at least 3 to 5 different dealers or brokers to receive quotes or appraisals.
  • Confirm in writing with each dealer when their price is locked in, the spot gold price price used in creating the quote, any dealer premiums or commission and other pertinent details such as shipping or handling fees.

FindBullionPrices.com can help find the best place to sell gold coins for the highest price. We track the “buy back price” of various US Mint gold coins and others from an assortment of online dealers.

The most common include the American Eagle 1 oz Gold Coin, the American Buffalo 1 oz Gold coin and the .

We also track the buy back prices of fractional American Eagle Gold coin series including the 1/10 oz, 1/2 oz and 1/4 oz denominations, as well as Canadian 1 oz Gold Maple Leaf Coin. If there are other gold coins or bars that you’d like us to track, send a request via our contact form.

Fed Report Admits that Gold is Displacing the Dollar in Central Bank Reserves

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Earlier this week the Federal Reserve released a report that showed that some countries are moving away from the dollar as their main reserve currency in favor of gold.

While the Fed tried to downplay the revelation, former Coinbase chief technology officer Balaji Srinivasan pointed out in a post on X that the small group includes China, India, Russia and Turkey, which “represents 3 billion people. So 37.5% of the world is moving away from dollars towards gold.”

“The Fed now admits some countries are moving to gold,” tech investor and former Coinbase chief technology officer Balaji Srinivasan posted to X, pointing to what the Fed says is a “small group” that “represents 3 billion people. So 37.5% of the world is moving away from dollars towards gold.”

This helps to provide some explanation for the steady and continuous increases in the price of gold over the last 18 months. While the price of the shiny metal goes up and down based on global activity and futures trading, physical gold continues to move from the West to the East.

Buyers in the Shanghai Exchange are paying a higher premium for gold, which is driving up prices in the New York and London and brokers make a commission on the arbitration of buy/sell spreads between markets.

China

China’s central bank, the PBOC, has been the largest buyer of gold in recent years, topping 2,235 tons at the end of 2023. According to reports from the Gold Council, the bank has continued its buying levels at a steady pace this year. Analysts expect the bank to continue to drive demand for central bank gold throughout other member nations. Roughly 4.3% of the nation’s official foreign exchange reserves are held entirely in gold.

India

In recent weeks, the Reserve Bank of India, RBI, transferred more than 100 tons of gold from London to be stored in vaults inside the country. However, the country’s consumers are already represent one of the largest group of buyers in the world.

In India, gold holds a significant cultural, religious, and economic value. It’s most common form is in the form of 22-karat gold jewelry. It is considered a symbol of wealth, power, and status, and is often passed down through generations as a form of inheritance and also for financial security and stability. Many families invest in gold as a means of saving and wealth preservation

Russia

Despite the sanctions targeting its financial system, oil sector, and individual oligarchs, Russia has managed to maintain economic growth.

The Russian economy grew by 3.6% in 2023 and is projected to grow another 2.6% in 2024. This growth is partially attributed to the country’s strategic response to sanctions, including the pegging of its currency, the ruble, to gold.

Russia is now the second largest producer of gold, second to China. Mines in the country produced 324.7 tons of gold in 2023, with it expected to increase production capacity over the coming years.

Turkey

Turkey led central bank gold buying in April, adding 33 tons to their reserves. In 2021, Turkey began a policy that allows commercial banks to accept gold deposits and use them to meet reserve requirements. This has led to a significant increase in gold demand in Turkey.

The country is the 5th largest gold market in the world and stands out with a long tradition of gold demand underpinned by a deep cultural heritage. Not only does gold play an important role in weddings and other aspects of religious life, generations of Turkish savers have turned to gold as an effective hedge against the ravages of inflation and currency weakness.

The BRICS Alliance Pushing Dedollarization

The BRICS countries continue to wage economic war against the Western economies, promoting dedollarization through various initiatives.

The BRICS alliance is pushing dedollarization through various initiatives. One of the most significant steps is the creation of a common currency, which is expected to be unveiled at the 2024 BRICS Annual Summit in October. This aims to reduce the dominance of the US dollar in international trade.

In 2024, several countries officially joined the BRICS alliance. These include Saudi Arabia, along with four other nations. The Saudi membership was due to start on January 1, but there was a delay before it was confirmed.

More than two dozen countries have expressed their desire to join, and 97 countries have confirmed their participation in the BRICS 2024 Games in Russia.