Gold $1848.63
Silver $22.17
Palladium $1249.36
Platinum $909.41
Precious metal bullion products are standardized amounts and purities of the metal in a physical form such as coins, rounds or bars. These bullion products are produced around the world by both government and private mints for the purpose of investing in a particular precious metal. The metal’s purity must meet or exceed the following in order for it to meet the IRS definition of investment metal bullion as described in 26 U.S. Code § 408(m)(3)(B):
The two most commonly used units of weight associated with bullion are troy ounces (oz t) and grams (g). One troy ounce equals 31.1034768 grams.
The following charts represent indication prices for which we can currently sell the most commonly traded bullion products.
Call to lock in prices.
| Gold Ask: $1848.63 as of September 30, 2023 | ||
|---|---|---|
| Description | Per Ounce | Our sell Price |
| American Gold Eagle | 1 | $1959.55 |
| American Gold Eagle | 1/2 | $1044.48 |
| American Gold Eagle | 1/4 | $526.86 |
| American Gold Eagle | 1/10 | $214.44 |
| Gold Buffalo | 1 | $1959.55 |
| Canadian Maple Leaf .9999 | 1 | $1959.55 |
| South African Krugerrand | 1 | $1938.63 |
| Austrian Philharmonic | 1 | $1938.63 |
| Austrian Gold Philharmonic | 1 | $1938.63 |
| Recognized Gold Bar in Assay Card (if out of card less $15 per oz.) | 1 | $1923.63 |
| Silver Ask: $22.17 as of September 30, 2023 | ||
|---|---|---|
| Description | Per Ounce | Our sell Prices |
| 2023 American Silver Eagles | 1 | $30.17 |
| American Silver Eagle Monster Boxes | 1 | $30.17 |
| Canadian Maple Leaf | 1 | $27.17 |
| Austrian Philharmonic | 1 | OUT |
| 2023 Great Britain Silver Britannia | 1 | $27.17 |
| Australian Kangaroo | 1 | OUT |
| South African Kruggerand | 1 | $27.18 |
| 1 oz New .999 Silver Rounds (Bright, Name Brands, Solid Rolls | 1 | $25.68 |
| 5 oz Generic Silver Bars | 5 | $25.68 |
| 10 oz Generic Silver Bars | 10 | $25.68 |
| Kilo Silver Bars | 32.15 | $25.68 |
| 100 oz Generic Silver Bars | 100 | $24.18 |
| U.S 90% Silver Coinage | Face Value x | OUT |
| U.S 40% Silver Coinage | Face Value x | OUT |
| Platinum Ask: $927.26 as of September 30, 2023 | ||
|---|---|---|
| Description | Per Ounce | Our sell Prices |
| American Platinum Eagle | 1 | $1117.26 |
| Canadian Platinum Maple | 1 | $1052.26 |
| 1 oz Platinum Carded Bars | 1 | $1027.26 |
| Palladium Ask: $1248.63 as of September 30, 2023 | ||
|---|---|---|
| Description | Per Ounce | Our sell Prices |
| Bars in Assay card | 1 | $1423.63 |
| Canadian Palladium Maples in plastic | 1 | $1423.63 |
Related to the above charts, Prices are subject to Change without notice as they reflect current market conditions and we reserve the right to limit quantities.
Government vs. Private Mint Bullion
Bullion is produced by both sovereign mints (governments) and private mints. Sovereign mints, such as the United States Mint, The Royal Canadian Mint, or the Perth Mint, generally produce bullion in the form of legal tender coins, although there are a few exceptions to this. Bullion coins are not produced for commerce like regular circulating coins. Even though bullion coins have a face value on them representing an amount of that sovereign country’s currency, that face value is almost always considerably less than the underlying value of the metal itself. Since these sovereign bullion coins are produced to the strict legal standards of the issuing government and they are often more difficult to counterfeit, they generally cost more versus bullion products issued by private mints.
Private mints and refiners, such as Johnson Matthey, PAMP Suisse and Republic Metals, produce bullion in the form of bars and rounds. These products are not backed by any government, only the quality and reputation of the mint itself. Fortunately, the private mints doing the most business in the global bullion market have stellar reputations and have earned the trust of their customers. The cost of private mint generic bullion is almost always less than sovereign mint bullion. This can be appealing to customers who seek to maximize the amount of bullion they wish to purchase given their budget.
Silver Buying Options
Generic Silver Bullion
Private mints and refiners, such as Engelhard, SilverTowne and Sunshine Mint, produce silver bullion in bar and round form in a wide range of weights. The cost of generic silver bullion produced by private mints is almost always less than government-issued silver bullion coins produced by individual countries. This can be appealing to customers who seek to maximize the amount of silver they wish to purchase.
Precious Metals Pricing: Paper vs Physical
One of the most common areas of confusion for customers new to precious metals investing is that there are two distinct prices for gold, silver and other investment-grade metals: the “paper” price and the “physical” price. Paper price, often referred to as “spot price,” is the current price of a precious metal as determined by world commodity futures markets. These markets facilitate the trade of paper contracts to buy/sell large amounts of a commodity metal like gold or silver. Rarely does actual metal trade hands with these transactions. Instead, commodity traders are betting on the price fluctuations of the commodity by simply exchanging contractual paper claims on the precious metal, not the metal itself. As demand for the underlying commodity metal rises or falls, so does the price for the corresponding contract. This spot price (paper price) is what you see when you see the price of gold, for instance, scroll by on your favorite business network or when you look at the top of the screen you are reading right now.
The “physical” price of precious metals is the price one pays for actual, physical metal in the form of coins, bars and rounds. The paper price of precious metals is always lower than the physical price. This is simply due to the additional cost refiners, mints, wholesalers and retailers must take on to bring the precious metal to the consumer market (manufacturing costs, delivery costs, insurance, etc.). This difference between the paper price and the physical price is known as the “premium.” Premiums can vary substantially due to a host of market conditions, but is mainly determined by simple market supply and consumer demand for the precious metal products. In times of strong demand and limited supply, premiums are often significantly higher than the spot price.
