Public trust in government central banks and global banks continues to erode as the world economy staggers to recover from issues caused by the pandemic response.
Many central banks have begun working on CBDC projects as a means of implementing programmable and controllable currencies even though popular opinion opposes the implementation of the G7, WEF and BIS recommendations, further eroding trust in the bankers who have a long history of corruption.
One way that blockchain ledger technology can help enable public trust in central banks, governments and global banks is by providing a means of transparency into the asset being held on behalf of customers.
The Dubai Multi Commodities Center recently announced a partnership with Comtech Gold to create TradeFlow warrants using Comtech Gold Tokens (CGO) based on customers depositing gold in approved vaults.
Comtech Gold is built on the XDC blockchain network with each contract on the network being represented with one gram of pure physical gold.
The DMCC TradeFlow project is already backed by 122 kilo gold bars.
Gold prices surged leading into the midterm elections resulting from the state of the economy and the Biden administrations ongoing support for the war in the Ukraine.
Millions of Americans were already facing difficult economic times resulting from the lasting effects of problems caused by forced shutdowns and additional failed government policies during the pandemic.
The Biden Administration’s handling of the pandemic response is one of the leading factors that the mainstream media has blamed for the shift in control of congress to the Republican party following tabulation of election results.
Global commodities markets, particularly those involved in the trading of precious metals such as gold and silver, and those involved in petroleum, oil and natural gas, have been a lot of unexpected price swings and short selling as traders look for opportunities among the market chaos.
The latest CPI from the Bureau of Labor Statistics (BLS) shows that inflation and stagnant wage growth are two of the biggest ongoing problem for most working Americans.
October 2022 data released last week shows that all items index prices increased more than 7.7%, with the sharpest increases in food, housing, gasoline and fuel oil.
The problems for the US economy continue to get worse as major companies announce mass layoffs to reduce their employee headcounts now that the midterm elections have been completed.
Crime continues to surge in major cities, particularly in States that are heavily controlled and governed by Democrats with growing homeless encampments and criminal gangs looking to exploit opportunities.
Bitcoin and crypto investors are beginning to realize that the current fiat based system that has been led by the Federal Reserve is not likely to provide the stimulus needed to bring about a full economic recovery in the short-term. Many leading industry experts and executives have suggested that Blockchain technology can be implemented to assist central bankers with international trade and other economic growth with the support and agreement of foreign trade organizations that are backed by precious metals, particularly gold.
Representatives from countries that belong to the G20 are meeting this week in Indonesia to layout a strategy for global economic recovery.
Financial experts continue to warn that the fallout from the FTX fiasco is likely to be bigger than the housing bubble and collapse that proceeded the recession and financial crisis that began in 2008
The collapse of FTX and the founder being investigated for related financial and election related crimes is beginning to shed some light on further corruption by government officials in the United States and Ukraine, with millions of dollars of military aid suspected of being laundered through various crypto exchanges being donated to hundreds of Democrat candidates and Soros funded lobbying organizations throughout the country.
Venezuela, which has had much of their gold reserves stored in vaults in the UK, United States and Canada, has been attempting to repatriate their gold bars since the Presidency of Hugo Chavez.
In 2012, Venezuela was able to repatriate some gold reserves, valued at roughly $9 billion at the time. Attempts to move an additional 14 tons of gold reserves in 2018 were refused by government officials in the United States due to economic sanctions against the Maduro presidency which continues to cause economic harm to millions of Venezuelans seeking asylum.
Global demand for gold and silver is stronger than ever, especially in Asia where gold is viewed as a store of family wealth.
Fractional gold bars maintain their popularity and intrinsic value with investors and stackers searching for some economic security. The most savvy investors use the Closest to Spot tools to find the best prices on fractional gold bars in sizes that range from 1 gram to 20 grams.
As expected, the Federal Open Market Committee hiked the benchmark interest rate by 3/4 of a percentage point at the end of their two day meeting.
Ongoing failed attempts by the Biden administration and Congress to get worries about the economy and a recession out of the minds of voters leading into the mid-term elections are failing miserably as prices of everyday basics continue to soar for many already living paycheck to paycheck.
Industry leaders, including JP Morgan Chase CEO are predicting the economy may take a turn worse than a recession. Mass layoffs have already been announced at many large companies across a variety of industries.
Despite economic sanctions against Russia by the LBMA, world leaders from Brazil, India and other mineral rich developing nations are looking towards the Moscow World Standard as an alternative precious metals exchange.
In response the economic sanctions, Russia took steps to back the ruble with gold earlier this year. Leaders of developing nations are seeing how returning to a gold-standard economy may help deflect repercussions of the recession and other issues facing the US and Europe.
For many years the Zimbabwe economy has not only been the butt of many jokes, it has served as a very public example of how rampant and out of control inflation can destroy an economy and a fiat currency.
The earlier trial release in the issuance of gold coins to help with their fiat problems has been deemed such a success that they have announced the upcoming release of additional denominations.
The new Zimbabwe fractional gold coins will be minted on demand and will include tenth ounce, quarter ounce and half an ounce denominations. The coins will be available for buy beginning in November.
Investors and collectors are always looking for a great price on gold coins and bars. It’s understandable that everyone wants to pay the lowest price possible when buying precious metals. The lower price you pay the higher potential return on your investment that you can get. It’s difficult to buy gold at spot price but not impossible.
What is gold spot price?
The gold spot price is the current commodities market price at which gold is bought or sold for immediate payment and delivery. It is what you would pay “on-the-spot” as opposed to some date in the future. In theory, you could pay spot price, or below spot price if you were to buy raw gold before it was minted into a bar or coin.
The gold spot price refers to the price of one troy ounce. It is often quoted in U.S. dollars. The troy ounce is a standard unit of measurement use for precious metals. One troy ounce is defined as exactly 31.1034768 grams (1.097142857143 oz.), but gold prices are often listed as $/oz.
Gold spot prices can be driven by a host of factors such as market speculation, demand for gold, fluctuations in gold futures (paper contracts), currency values, current events (political stability), gold supply (mining), and gold demand (manufacturing and investor).
Gold spot prices are updated every minute as long as one of the markets around the world is open and trading. The most influential global markets are in New York, Chicago, London, Zurich, China, and Hong Kong.
Gold spot price does not take into account any other costs that may be essential to the design, manufacture, transportation, purchase or sale of a precious metal. Those additional costs may including things like packaging, shipping, handling, or insurance. They also don’t factor in the rarity of certain gold products, coins or potential numismatic value.
Expecting to buy a gold coin or bar at the spot price of gold is like expecting to buy a car for the price of the materials. Other factors impact the price of the finished product such as the design and labor, the cost of transporting raw materials and finished products, location, taxes, profit margin, etc.
How are spot prices used?
Companies use gold spot prices to help guide product pricing. However, gold coins, bars, and bullion can sell for varying amounts over spot price due to numerous factors previously mentioned. Additionally, gold coins have other factors that effect the price such as mintage, product types, and rarity on top of the spot price of gold.
Bullion dealers use gold spot price as the basis for pricing many of their products. Dealers price Gold coins, bars and rounds with a premium over gold spot price.
Where can you buy gold at spot price?
While rare, the opportunity to buy gold at spot price does exists. Several online bullion dealers offer 1 oz gold bar for sale at spot price as a special offer for new customers. This is intended as a loss leader for the bullion dealers to acquire new customers.
There are other ways to buy gold at close to spot price, including some that allow you to buy gold below spot price after factoring in various discounts, cash back and rebates.
Choose the type of gold products that will meet your goals
With such a variety of gold bullion products available it can be difficult to decide which products will help you reach your investment or store of wealth goals.
Today’s market is flooded with gold bullion coins from sovereign government mints from around the world and private mints. The market also has a flood of vintage gold bullion coins that were in circulation at a time when economies were based on the gold standard.
Two very important factors to consider include how long you intend to hold on to your gold bullion investment and your intended buyer when you decide to sell down the road.
If transferring cash holdings into another form of legal tender, buying Pre-1933 US Gold Coins, Canadian Gold Maple Leaf coins or American Gold Eagle Coins may be the most practical for you. There are plenty of other vintage gold bullion coin options available that don’t have a current legal tender status, that are just as highly recognized world-wide. These vintage gold bullion coins are easy to sell, such as Gold Franc Coins of the Latin Monetary Union (LMU), Gold Sovereigns from Great Britain, and Gold Peso coins from Mexico.
Keep track of the Gold Spot Price
The gold spot price changes everyday based on the market factors mentioned above. It’s important to keep an eye on rising or falling gold spot prices to identify opportunities to buy and sell to capture profits if that is one of your goals.
Compare Gold Bullion Prices
Once you’ve identified your investment goals and the types of gold bullion products that are important to you, then it’s time to comparison shop across the large number of online bullion dealers.
There are a number of trusted and reputable online bullion dealers. Each dealer prices gold bullion products based on their individual business models. Accordingly, the premiums each dealer charges for the same product can vary dramatically.
Almost every online bullion dealer will carry a core set of common products such as American Gold Eagles, Canadian Gold Maple Leafs, South African Gold Krugerrands, and other sovereign government bullion. You can use FindBullionPrices.com to find the best prices on the gold bullion items you want to buy.
When you buy silver and gold bullion from online dealers the pricing displayed on their websites can be confusing. It can sometimes be hard to tell if you’re getting a good deal or not.
All bullion dealers, whether online or a local coins shop, price their bullion relative to the spot price of the precious metals. The price the dealer charges over spot price is called the dealer premium.
The only way to know whether or not you’re getting the best price when you buy precious metals online is to compare the dealer premiums over spot price.
Comparing dealer premiums for a particular item, whether it’s the latest American Silver Eagle coins, 10 oz silver bars, or Pre-1933 gold coins, can be a tedious and time consuming job. Looking for the same item across multiple dealer websites takes time.
FindBullionPrices.com provides tools to help simplify the process for buying silver and gold bullion from online dealers. We pull the latest prices from many trusted and reputable bullion dealer websites for over 300 unique products.
Each product listing is designed to make it easier to decide which dealer has the best deal when you buy bullion online. The product listings display the current spot price, including the melt value for each item. The current price the dealer is selling an item for is displayed, along with the calculated dealer premium over the melt value.
For each product we try to show as many dealers as possible that are selling a particular gold or silver coin. Dealer inventories can change quickly so we may not always show every dealer that is selling a particular item, though we try to do the best we can.
Shipping Charges and the Myth of Free Shipping
Many online bullion dealers offer free shipping when you place an order over a certain dollar amount. For a lot of bullion dealers, the free shipping threshold is that orders over $99 ship for free. The cost of the shipping is generally included in the dealer premiums.
Several online bullion dealers offer free shipping for all orders regardless of the dollar value of the order. These dealers typically have much higher premiums per item to cover the shipping costs.
Still, there are other dealers that are more transparent in their pricing and cost structure. They may not offer free shipping at all, or have a higher minimum order dollar value threshold for offer free shipping.
As silver and gold bullion are commodities, market conditions dictate the price trend which affects the price you pay. As with any business, each dealer has different levels of overhead, operating costs and desired profit margins.
Some online bullion dealers prefer high volume with lower margins while others may charge a heavy premium, especially when purchasing lower quantities or lower order values.
The top trusted and reputable online bullion dealers willing to compete on both service and price, who are interested in establishing long-term stacker customers that will continue to buy from them on an ongoing basis, are the dealers will to compete on price and provide the best customer service.
Payment Methods and Types
Our dealer listings section has a page that shows the payment methods accepted by dealer accepts and displays information regarding the shipping policies, minimum order value thresholds for free shipping and more.
Virtually all online bullion dealers accept credit cards, checks and wire transfers for payment. Dealers that accept credit cards and PayPal as payment methods typically incur a fee for each transaction. The fee that credit card companies and PayPal charges the dealer are typically 3% to 4% of the dollar value of the order. These fees are included in the cost.
Online bullion dealers often display on their product pages two or three different prices. Dealers will usually display the Cash Price and the Credit Card/PayPal price, and some dealers may display a third category that have begun accepting BitCoin and other cryptocurrencies for payment.
Paying the Cash Price for Silver & Gold Bullion
The lowest price is the Cash Price. The Cash Price when you buy gold or silver from an online dealer represents the equivalent to walking into the store and paying cash. This is obviously not possible when making an online transaction, so this price also often represents the price if you were to mail a check to the dealer, use an e-check option or perform a wire transfer.
Some credit card companies and payment processors have requirements that forbid merchants from charging a fee for accepting credit cards as a payment method. Online bullion dealers get around this by offering the items for sale at a Credit Card/PayPal price that is typically 3% to 4% higher than the Cash Price. While the Cash Price is often referred to as a discounted price for using Cash, Check, e-Check or wire transfer as a payment method.
Money Metals Exchange has special pricing on fractional 24k gold bars. With dealer premiums low now is a great time to buy gold bars, both for yourself or as a holiday gift for the people in your life.
Their gold bars are currently priced at some of the lowest premiums over gold spot price.
1 Gram Gold Bars – From Random Manufacturers, Sealed in Mint Assay Packaging for around $48.
2.5 Gram Gold Bars – In Mint Sealed Assay Card, Random Manufacturers, less than $110
5 Gram Gold Bars – Pure 24k .999 Fine Gold, Random Mints in Sealed Assay Cards for around $215
10 Gram Gold Bars – Sealed in Mint Assay Cards from Random Manufacturers based on availability, priced around $419, under $42 a gram
These low premiums on fractional gold bars are not going to last long. When you buy gold bars you are investing in an asset that is meant to preserve wealth.
When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.
eBay launched an eBay Bucks promotion this morning that allows buyers to earn 8% cash back eBay Bucks rewards on eligible purchases through November 15, 2018 at midnight Pacific time.
As usual, items listed in the bullion categories on eBay are ineligible to earn Bucks. However, there are many deals on gold, silver and junk bullion that trusted and reputable dealers have listed outside of the bullion categories that are eligible for earning eBay Bucks, including the 8% bonus.
To find out if you’re eligible for the eBay Bucks promotion, click this link to the eBay Bucks promotion page and click the “Activate” link.
If you’re eligible to participate you will be brought to a confirmation page. If you are not eligible you will see a message stating that the offer cannot be activated and it may give you a reason.
Eligible items include rolls of American Silver Eagles, rolls of Canadian Silver Maple Leafs, fractional gold bars, 10 oz silver bars, 20 Franc Gold Coins, Gold Sovereign Coins, lots of 5 and 10 1 oz silver rounds and bars as well as 90% silver coinage in rolls and bags.
When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.
Most bullion buyers who buy on eBay are familiar with the value that the eBay Bucks Rewards program provides. It is a cash back style rewards program that gives back 1% of each eligible purchase in the form of an eBay Gift Card code that can be applied to future purchases.
As often as several times per month eBay runs promotions that increase the cash back earnings provided by the eBay Bucks program. The promotions have increased the percentage of earnings to 8%, 10% and even as high as 15%.
Any items that are listed in the bullion categories are automatically excluded from earning eBay Bucks. However, some savvy dealers will list items in other eligible categories which allow earning of eBay Bucks on bullion purchases.
APMEX has always included items for sale on eBay in eligible categories. This has typically included gold bullion coins, primarily European circulated gold bullion coins such as British Gold Sovereigns and 20 Franc Gold Coins. They also usually have Pre-1933 American Gold Bullion and Mexican Gold Pesos.
Bullion Exchanges offers a variety of silver bullion items in eBay Bucks eligible categories. Often you can find a variety of 1 oz rounds sold both individually or in lots of 10, 5 oz silver bars and 10 oz silver bars.
Modern Coin Mart usually has Rolls of 20 American Silver Eagle coins for sale in eBay Bucks eligible categories. Their prices are usually higher than you can find elsewhere but some people feel that the higher price is offset when earning eBay Bonus Bucks during promotional periods.
BOLD Precious Metals usually offers foreign silver and gold bullion items in eBay Bucks eligible categories. They typically offer China Silver Panda coins, Super Hero Themed silver bullion rounds and Rolls of Austrian Silver Philharmonic coins that can earn eBay Bucks.
We have published an updated list of eBay Bucks Bullion items that are eligible for earning bucks.
A precision digital scale for silver & gold is one of the most basic tools available that can be used by both investors and precious metals coin collectors to help verify the authenticity of a particular item by comparing to the expected weight. Measuring the weight is one of the easiest and quickest tests to help verify the authenticity of your gold and silver coins. The measured weight is easy to compare with one of the many reference charts online, in an app or even coin reference books that are available online and at local coin stores. A simple scale for measuring gold and silver is a practical tool for all investors.
Digital scales have become ubiquitous in recent years and are sold at nearly every gas stations and corner store. The quality and accuracy of these scales can range from fickle and variable to surprisingly accurate. If in doubt, consult with a reputable coin dealer or expert that owns a Sigma Precious Metals Verifier.
It is even more important when purchasing via social media, online marketplaces, eBay or individuals and other untrusted sources.
Modern gold coin should be very close to its stated weight (e.g., 1 oz, 1/2 oz, etc.), though minor deviations can occur due to wear or manufacturing tolerances. Also keep in mind, that when measuring circulated gold coins such as old 20 francs, sovereigns and Pre-1933 US gold coins, wear and tear from circulation can slightly reduce the weight.
The weights and dimensions of older gold bullion coins such as British Gold Sovereigns, French Gold Francs, or Mexican Gold Pesos are well known and easy to verify with an accurate scale and simple calipers.
The same is true for 90% silver coins such as Morgan and Peace dollars, silver pesos or junk silver coins.
The scale should be able to accommodate the weight of the items you’ll be measuring. For most precious metals, a scale with a weight capacity of up to 500 grams or a half kilo is generally sufficient. Choose a scale that is easy to calibrate and offers consistent accuracy over time. Some scales come with calibration weights, which are helpful for ensuring accuracy.
When dealing with precious metals, the most important feature is that the scale is able to switch between various measurement systems, including grams, imperial and troy ounces. Some scales may only have grams and imperial and may not include troy ounces. A tare function allows you to subtract the weight of a container or tray from the total weight, essentially zeroing out the scale to allow for accurate measurements.
Some scales for Silver & Gold will come with a set of calibration weights that can be used to verify that the scale is working correctly. By comparing the reading to those of known samples, the scale can often be adjusted back to accuracy. Be sure to place the scale on a level, stable surface and ensure the area is free from magnetic or electronic interference.
Another, often overlooked feature, particularly when dealing with fractional gold coins and bars, is precision to at least two decimal places. When checking the weight of circulated and fractional gold coins and bars, having a scale that can accurately measure to the hundredth of a gram is very important.
Consider that a genuine 1/10 oz gold coin is the equivalent of 3.11 grams. A counterfeit or plated coin will have a weight that is different due to the density of the metal. If only measured to the tenth of a gram, the variance may be slight enough that the scale is unable to determine an accurate weight due to rounding function. This becomes even more critical when dealing with smaller fractional gold coins and bars, such as gram sizes and those weighing 1/20 oz.
It’s common to find scales at the gas station that measure to only tenths of a gram. For a more definitive measurement, be sure that the scale can measure to at least the hundredth decimal place. High-end laboratory scales and those used by professional miners can be accurate to thousandth of a gram!
While it’s important to invest in a reliable scale, you don’t necessarily need to go for the most expensive option. There are accurate scales available across various price points.
The scales for silver & gold below all have the basic capabilities of providing accurate measurements in both troy ounces and grams and are also reasonably inexpensive and readily available.
The Weigh Gram scale from Amazon is a basic device capable of measuring in grams (g), troy ounces (ozt), avoirdupois ounces (oz) and pennyweights weights (dwt). It has a maximum measurement capacity of 600 grams and will measure fractions of a gram down to the hundredths.
This scale is small enough to fit in your pocket and is a good choice for measuring the weights of smaller bullion items. For the price, this is the best scale for weighing gold and silver.
The KitchenTour EG5001 from Amazon has a higher capacity, capable of measuring up to 500 grams, or a half of a kilogram. This scale is a good choice for measuring larger silver bullion items such as 10 oz silver bars. The scale has precision to hundredths of a gram and has six different measurement types, including grams, troy ounces, avoidupois ounces, dime weights and others.
The RESHY High Precision Lab Scale from Amazon is a precision analytical balance scale. It has a capacity of up to 5000 grams or 5 kilograms with a precision resolution down to the hundredths of a gram. This is a great scale for measuring larger silver bullion items, including silver kilos and 100 ounce silver bars.
The RESHY High Precision Lab Scale from Amazon is a precision analytical balance scale. It has a capacity of up to 5000 grams or 5 kilograms with a precision resolution down to the hundredths of a gram. This is a great scale for measuring larger silver bullion items, including silver kilos and 100 ounce silver bars.