9.3
8.159 reviews
English
EN
The demand for Gold Coins has exploded in recent weeks, including at the U.S. mint. According to the latest figures from the US Mint, in March there was a Nearly 200,000 troy ounces of gold coins. That's the highest monthly level in the last four years. It is also almost six times as much as the monthly average of the past two years. Due to a sudden rush for investment gold, the coins of various mints are in short supply.
The rush for precious metals causes Longer delivery times and higher premiums. In many European countries and in the United States, gold traders sold out in no time. Many orders are currently on hold at smelters and mints. As a result, delivery times in the market have increased from a few weeks for gold bars to even a few months for silver coins.
Some traders who are still able to supply from stock are charging much higher premiums than usual, with premiums for gold Eagle coins rising to more than 10% above the spot price. Silver coins are also hard to come by at the mints, so that in some cases the premiums are as high as 50% above the silver price. This Exceptionally high premiums points to tightness in the market, but premiums are expected to return to normal in a few weeks. Mints and smelters are trying to resume and scale up production to meet demand.
The chart below shows the demand for gold Eagle and Buffalo coins over the past few years. These are the coins that the US Mint markets for investment purposes. The last time so many gold coins were sold was in 2016, when the Gold price increased in the run-up to Brexit. Now, the coronavirus and all the monetary and fiscal stimulus from central banks and governments is causing a flight to precious metals.
Click here for the current delivery times at {{P3}}
Sell Gold Coins US Mint
This contribution was made from Geotrendlines
