The notion of sales tax on precious metals investing is a contentious issue to some and represents a line in the sand between some legislators and investors. Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals.
The announcement today notes that the minimum order size has been reduced to $250.
First time customers can buy an Argor-Heraeus 10 gram Gold Bar at spot price which includes insurance and shipping. More details can also be found on the SD Bullion offer page.
The US Mint continues to be slow and unable to meet investor demand.
The failures of the Mint and their planchet suppliers have led directly to significant increases in dealer premiums in recent weeks. This week, the lowest dealer premium for silver eagles is more than 60% over spot price.
Some dealers, such as APMEX and JM Bullion are currently selling silver eagles with premiums at over 88% above spot price.
APMEX, JM Bullion, SD Bullion and Money Metals Exchange have announced temporary changes to order and shipping policies upon an increase in order volume in recent weeks amidst the ongoing banking crisis. While premiums on silver eagles have recently risen back above 50% per coin. Lower premiums are available for other sovereign bullion coins such as Britannia, Kangaroo and Philharmonic.
Current backlog for some orders is reportedly extending out 7 or more business days. In addition, they are temporarily limiting new orders to over $500.
Money Metals Exchange has also stated that customers should expect order delays of up to an additional 1 to 2 business days.
APMEX sold more than 1 million troy ounces of silver in the past 7 days, and 27,000 troy ounces of gold.
Many new investors discovered precious metals through spot price deals. JM Bullion is now offering new investors the option to buy a 1 oz Gold Bar at Spot Price.
The use of silver in the manufacturing of consumer electronics, electric vehicles and solar panels has hit record highs. New Mining Tech could improve efficient and reduce environmental impact
The official coronation of King Charles will occur in May. The Royal Mint is releasing new coin designs to celebrate this historic event and transition. The Type 2 design for the 2023 Britannia features a newly sculpted portrait of His Majesty King Charles III.
Commonwealth countries will likely be following the lead and updating their coins.