Sales of the U.S. Mint Gold Eagle and Buffalo coins are already double what they were for full-year 2019. And, with the Fed and central banks continuing to print money hand-over-fist, I doubt the demand for gold coins will diminish anytime soon.
Interestingly, sales for precious metals bullion retail products, according to Dan at Cloud Hard Assets, are running about 60% for gold and 40% for silver (total value, not ounces). Investors would be buying more silver, but due to the backlog and shortage of retail silver bullion products, individuals are being forced to buy more gold.
According to the U.S. Mint’s most recent update, sales of 2020 Gold Eagles totaled 332,000 oz compared to only 152,000 oz for 2019. Furthermore, Gold Buffalo coin sales have reached 117,500 oz versus only 61,500 for 2019. Again, we are only five months into 2020, so it will be interesting to see what demand for these U.S. Gold coins will be for the remainder of the year.
Investors looking to acquire Gold Eagles and Buffalos are still paying high premiums. In comparing the premiums for 2020 Gold Eagles and Buffalos, the best value that I could find from the leading online dealers is about 8%. However, the Gold Buffalo coin premiums were even higher.
Here is an update on the BEST BUY PRICES for 2020 Gold Eagles and Buffalos from the leading online dealers’ vs. CLOUD HARD ASSETS (Prices below based on $1,745+ gold spot price early Thursday):
As you can see, it’s important to compare the prices of gold bullion products (and services). Moreover, I am putting together a spreadsheet comparing the top online dealers’ Silver Eagle premiums vs. CLOUD HARD ASSETS. Today, the top online dealers 2020 Silver Eagle premiums are running about 59% of the current spot price vs. 39% for CLOUD HARD ASSETS. Again, it’s wise to compare prices and services at the different precious metals dealers.
Again, the prices above were based on a $1,745+ gold spot price during early Thursday trading.
IMPORTANT VIEWPOINT: While some followers may find my comparing prices for precious metals bullion products with Cloud Hard Assets on the “SALESMEN” side, I believe in FREE MARKETS and the ability for individuals to find the best deals. Furthermore, I am getting sick and tired of the rampant corruption in the Resource Stock Promoting Newsletter Operations, so buyer beware.
If you are buying JUNIOR STOCKS promoted by newsletters or websites, you best check to see if the same individual or organization is being paid to promote the stock for ULTERIOR motives. There are a lot of PUMP and DUMP stock promoting services that seem legit, as they put out factual information to COVER their SCHEMES. However, while they publish factual articles on gold and silver, their real BREAD & BUTTER is to get investors to part with their hard-earned money.
You would be surprised at the names of some of these newsletters and websites.
Anyhow… if you want to pay more money to buy gold and silver bullion products, IT’s A FREE WORLD. However, I believe it is wise to compare prices, and more importantly, SERVICES from the various online precious metals dealers. Also, watch out for HIGH-PRESSURE salesman from dealers that push products and services that are in THEIR BEST INTEREST… not YOURS.
You can contact Tom or Dan at CLOUD HARD ASSETS here: PRECIOUS METALS INVESTING.
IMPORTANT NOTE: There is a reason I sponsor Tom Cloud on my site because I believe he is one of the most honest and upfront precious metals dealers in the industry. Not only does Tom offer some of the best rates to purchase gold and silver, but also whenever someone sells metals back to him, HE DOES NOT CHARGE A COMMISSION. The overwhelming majority of precious metals dealers charge a commission to buy back gold and silver.
I challenge you to check for yourself.
Also, if you need to store metal at a secure facility, Tom offers some of the lowest storage rates in the industry. TOM DOES NOT MAKE MONEY OFF HIS CLIENTS PRECIOUS METALS STORAGE. The overwhelming majority of precious metals dealers add an additional percentage to store their clients gold and silver.
I challenge you to check for yourself.
Tom Cloud has been in the precious metals business for 46 years, since 1973. He has a lot of experience in the precious metals industry and understands the gold and silver market better than most dealers in the industry.
If you are new to the precious metals market and had questions, Tom Cloud would be happy to answer any questions.
DISCLAIMER: While Tom offers information about precious metals, you should not take this as investment advice. You should contact a professional advisor and or do your due diligence before making investment decisions.
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Total sales of 2020 Gold Eagles and Buffalo 332,000 oz + 117,500 oz =449 500 oz. Based on 330 million population, one out of 734 Americans bought one gold coin in 2020. Just rough estimate. That means, PM ownership is extremely small.
(Of course, some Americans bought Royal Canadian Mint, Kangaroo, Philharmonic gold coins while some Eagles and Buffalo gold coins exported to other countries)
JLS,
Correct. Gold Eagle-Buffalo coin buying by Americans is still a FRACTION of a FRACTION. However, I see that changing when the world gets PRECIOUS METALS RELIGION.
steve
Hoping in the next 1-3 years silver shines more brightly than gold (greater % increase in fiat resale value), or more favorable G/S ratio for conversion.
Few can afford gold.
May is almost over. Never been the sharpest tool in the shed, yet it sure seems clear to me that as far as Phyzz GOLD and SILVER go, I very well probably arrived a couple months back at the position in ounces I’ll be in for a long time.
I believe that the, ‘What you have is what you’ll have’ place in acquiring PM’s is here…for a slew of reasons….
Kitco has better prices
Dane,
I just checked Kitco’s 2020 Gold Eagle and Gold Buffalo prices. These are not their VAULT or POOL ACCOUNT prices. I am comparing Gold Bullion SENT TO YOUR HOME.
Kitco 2020 Gold Eagle Price = $1,867 (https://online.kitco.com/american-gold-eagle-coins)
Kitco 2020 Gold Buffalo Price = $1,877 (https://online.kitco.com/american-gold-buffalo-coins)
CLOUD HARD ASSETS UPDATED END OF DAY:
2020 Gold Eagle Price = $1,846
2020 Gold Buffalo Price = $1,846
steve
The Federal Gov’t calls in all gold and silver bullion. All except monetized coins. What then?
Then, a whole lot of digging and boat accidents.
Governments produce rules called legislation. These are legal duties only, therefore voluntary.
Like Lord Camden said; Taxation and representation are inseparable and whoever attempts to take your gold without consent attempts a robbery and attempts an injury.
Simply, get rid of your representative.
Speech in the House of Lords,on the Taxation of Americans by the British Parliament, 1766
What then?
People say “screw you”
The federal government calls in all guns and ammunition.
What do you think the public response will be?
My worst nightmare: The face of grinning Steve Mnuchin on TV telling us it’s our patriotic duty to turn in the gold. These are strange times that may get desperate so who knows. If their personal goldmine (no pun) the stock market tanks, the elite will be wanting gold.
It’s about too late for the herd mentality to jump on precious metals because guess what, it’s rare.
I don’t remember ever seeing these premiums during 1980 and 2010-2012, do you Steve?
Try to buy pm in cash. Never talk to anyone outside of close family about pm.
Maybe we should talk enthusiastically about stocks so that nobody would suspect our pm ownership.
The owner of a small pm store told me that he planned to leave our small town and retire in a faraway state to hide his wealth.
He had better get moving today. The window is closing rapidly if he hasn’t figured that out already.
My area is getting slammed by out of state people on the move. They can’t for the life of them understand that they can’t get services from contractors. Those worth their salt are months out…and have been for several years. The rush here is that bad.
Now that Washington if full blown commie, the exodus from there is relentless. Colorado, Oregon, California, Texas. Yes Texas. LOTS of Texans buggin to Big Sky country.
Most of these people are incapable of hiding their wealth. They just really can’t figure it out. Perhaps they have a private army to protect them. Most of them can afford one.
Brant Lee,
You are right. This did happen before, and history repeats or rhymes:
https://mises.org/library/great-gold-robbery-1933
Penalties were horrible: 10 years of prison and $ 10.000 fine (in 1933 dollars)
my understanding is that nobody (or almost nobody) was imprisoned and there were no house to house searches.
To my knowledge, in 1933 even some foreign country citizens known to hold gold (which they had brought from outside of USA) were caught and their gold seized.
I read about a White Russian who had escaped from Stalin regime with nearly 300 kg of gold in his possession to the USA. Not informing the federal authorities about his gold, he was promptly jailed and all his gold seized. Later, he died in prisonment.
Swiss bankers operating in California were caught and their $ 1.25 millions (in 1933 dollars) worth of gold was “purchased” at $20/oz. Against their will, of course.
You need to look up how very, very few cases of prosecution there were.
There was a silver confiscation act too:
https://www.jmbullion.com/investing-guide/buying-physical-metals/fdr-silver-nationalization-1934/
https://www.presidency.ucsb.edu/documents/executive-order-6814-requiring-the-delivery-all-silver-the-united-states-for-coinage
Even more ignored.
i have it from a reputable source through an online interview . That it will be best to buy American Gold , and not INternational gold.? I wondered why he said that , and will this make a difference later on in this financial fiasco? anyone has an opinion on this statement? I,m sure Mr. Sinclair had a good reason to suggest this?
are you in the US? Anyway, with coins from the mint there is less concern about counterfeit. The gold eagle is kind of the gold standard, no pun intended.
I believe Mr Sinclair said that sovereign coins were preferable depending on which country you lived in. United States would be American Eagles or Buffaloes, Maple Leafs for Canada, Philharmonics for Austria, Kangaroos for Australia etc. to lessen the likelihood of confiscation by your friendly local governing body.