Manufacturers

Investors Losing Confidence in the US Mint, while Coin Minting Reports $171 Million Net Loss

Keeping up with investors demand has been a difficult task for the US Mint. The pandemic lockdowns caused a total shut down of mint operations, forced mine closures and caused other widespread disruptions throughout industrial supply chains.

Problems for the Mint only got worse as investor demand for bullion investment coins skyrocketed because of the pandemic. For a few months, the minting of Silver Eagle coins was secretly shifted to the Philadelphia Mint for the first time in history as backorders began to pile up.

2023-W Proof Gold Eagle and Buffalo Coins from the US Mint

2023-W Gold Eagle Proof 4 coin collectors set with box (ogp) and coa

The US Mint releases proof finish versions of the American Eagle and American Buffalo coins each spring. The coins are meticulously minted to a mirror-like finish which highlights the astonishing details sculpted into each.

Resale premiums on proof finish coins are higher than bullion. Dealer Buyback prices are often a few percent above melt value for coins that are in mint state.

Government Mint 1 Gram Gold Bars

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The selection of government mint one gram gold bars available from online bullion dealers are minted are an excellent way to stack gold in fractional increments.

The dealer premiums for 1 gram bars can seem high when comparing them against a solid full ounce, however, they remain a practical options for incremental buying fractional gold.

Demand for Silver Eagles Spikes, Along with Premiums

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.

SD Bullion Updates Shipping Times, Raises Order Minimum to $500

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.