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The US Mint is one of the oldest continually operating minting operations in the world and all other mints use variants of the Mint’s processes. The Mint remains one of the world’s largest producer of coins today. Issues related to the production of bullion coins have led to huge increases in Silver Eagle premiums in recent years.
Many investors are looking to buy sovereign bullion coins from other mints. While many are still buying 1 oz silver eagles, some are concerned that the Mint suppliers are also making huge profits from the record high premiums caused by the shortages.
It is very common throughout Asia to own high karat gold jewelry as a store of wealth.
New bullion jewelry options are now available to 24k gold investors that go beyond your typical fashion accessory.
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 notion of sales tax on precious metals investing is contentious to some and represents a line in the sand between some legislators and investors.
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.