Top

Demand for Gold Bullion Coins Soars

March 25, 2009 by Administrator · 1 Comment 

demand_for_gold_coins.png

Reuters (London) is reporting demand for gold coins has risen sharply, according to mints around the world, as interest in the precious metal soars on the back of financial instability and concerns over the inflation outlook. The Royal Canadian Mint, which produces Maple Leaf bullion coins, said it quadrupled its production capacity late last year as demand for gold and silver bullion products leapt. Read more

Buying & Selling Gold Bullion Coins at San Diego Pawn Shops

October 23, 2008 by Administrator · Leave a Comment 

goldbull.jpg

If you ever come across some gold bullion coins at a San Diego pawn shop and are considering buying them, there are a few things that you should keep in mind:

Remember that gold prices fluctuate all the time, sometimes quite dramatically. So be sure to check the current day’s spot price. What is gold’s spot price? That’s the current market price for the precious metal. In contrast, a gold bullion coin’s “melt value” refers the value of the coin if it is melted down and sold.

If you plan on buying a fractional gold bullion coin (that is, a coin weighing less than one ounce) you can expect to pay a higher percentage over melt value than if you were buying a one ounce coin.

The folks at the Professional Numismatists Guild say that the average retail commission that a seller charges is 5-6%. So if it seems like the pawn shop from which you are thinking about buying a gold bullion coin is charging a higher commission than that, you can likely get a better deal elsewhere

Lastly, as a general rule of thumb, remember that Kruggerrand bullion coins are usually sold for less than the American Eagle and Canadian Maple Leaf bullion coins.

If you are really keen on buying gold bullion coins, your best bet may be to look up a San Diego ANA (American Numismatic Association) bullion dealer by clicking here.

###

People in San Diego often ask us just what the history of pawn shops is, where and how the whole business got started. For the curious, SDJB has now written: A Brief History of Pawn Shops.

The United States Mint Suspends Sales of 24K Gold Buffalo Coins

October 3, 2008 by Administrator · Leave a Comment 

buffalo.jpg

San Diego gold buyers won’t be able to purchase any gold buffalo coins this week. The United States Mint is temporarily halting sales of its American Buffalo 24k gold coins because it can’t keep up with soaring demand. The Associated Press reports that sales from the Mint were being suspended because demand for the coins, which were first introduced in 2006, has exceeded supply and the Mint’s inventory of the coins has been depleted. Read more

Bottom