Breaking news from the precious metals industry. Gold, silver and platinum group mining, refineries and refining technologies, minting and distribution.
News and information about the global drivers of prices in the precious metals markets. Including central banks, interest rates, industrial manufacturing, electronics and investors.
Investment grade silver coins are high-quality, government-minted coins that contain a specified amount of pure silver. These coins are recognized for their silver content, purity, and legal tender status, making them a reliable store of value. Some popular examples of investment grade silver coins include the American Silver Eagle, Canadian Silver Maple Leaf, and the Austrian Silver Philharmonic.
On a recent trading day, Costco offer PAMP Suisse 1 oz Gold Bars for around $61 over that day’s gold price, which was a premium of around 2.6%. The lowest dealer price for the Lady Fortuna Gold Bar that day was around $76 over melt value, roughly 3.24%.
Costco has a “no returns” policy when it comes to the gold coins and bars that they sell. Explore the best options when you’re looking to sell gold coins
Divisible gold bars are a practical investment that easily split into smaller segments without compromising their purity or integrity.
The spot price of gold rocketed past $2,400 per ounce in Asia this morning, topping out at $2,429.70 before the tamp down by the Wall Street after the New York opening bell. By afternoon, the price had settled down to around $2,342, $87 lower.
Even though gold prices continue to trend upwards, consumers demand for gold in the United States keeps getting stronger.
Some investors are buying gold coins from Costco below melt value when factoring in the rewards. The premium on Costco’s gold coins appears to average around 2.5%. Once receiving them, they bring them to their local coin stores to sell back. If your local coin store will pay 3% above melt, then without factoring in other rewards, its possible to make a quick .5% profit.
However, there are ways to use other rewards to increase profits. Flipping gold coins for profits has been a side hustle that many collectors and numismatists have been using for a long time to increase their collections and investments in tangible assets.
Earlier in the year, Costco stated that gold sales contributed around $100 million in revenue in the final quarter of last year when they first began the offerings.
Since then, Costco has been making regular offerings of gold coins from both the US Mint and Royal Canadian Mint, such as the 1 oz Gold Buffalo and 1 oz Gold Maple Leaf coins.
To help battle the latest round of inflation, the Central Bankers and politicians are turning to the oldest form of money known to civilization. This week, Zimbabwe launched a new “structured currency” backed in part by gold.
With central banks around the world buying gold in recent years, the price of gold rallied past $2,300 per ounce on Thursday, shocking retail investors and marking a new all time high for the shiny metal.
Prior to the Great Depression, gold coins were the normal and natural form of money and in common circulation throughout the world.
Gold coins can bring unique diversity to an existing investment portfolio, while expanding on an interest in numismatics or history. Beyond potential financial gains, the process of collecting, studying, and preserving historical coins can morph into a numismatic hobby.