U.S. Mint Increases Gold Coin Prices Amid Buying Frenzy

The price of gold bullion coins has remained relatively flat over the course of this week, after swinging high and low during the last couple of days the gold spot price is just about where it was to begin the week.

The U.S. Mint reported this week that sales of gold and silver bullion coins such as American Eagles and American Buffaloes were on pace to match or beat monthly, quarterly and yearly records, and many gold coin investment analysts have previously stated that the majority of gold’s recent downfall has been due to the derivatives markets, but that the physical gold market is actually quite healthy.

The U.S. Mint apparently took notice of this news because it has just increased prices for its collection of numismatic gold coins. Items including the 5-Star Generals coins, the First Spouse gold coins and the West Point Proof American Eagle gold coins are all now about $50 per ounce more expensive than they were last week.

Many dealers have recently had to increase the premium on American Eagle silver bullion coins due to the U.S. Mint’s low supply, and Proof silver Eagles are still under suspended production. The U.S. Mint has taken heat in recent years for its inability to mint a sufficient number of bullion and Proof coins, as required by law. Many investors have turned to silver bullion rounds instead of American Eagles because of the lower premium, and instead of Proof American Eagle gold coins investors are now trending towards pre-1933 gold coins such as Double Eagles, both for the privacy aspect as well as the historical profitability. Visit us again Friday to see how gold and silver coin prices round out the week.

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