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What was Roosevelt’s Executive Order 6102?

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When Franklin Roosevelt was elected in 1932, public confidence and support for the nations banking system was at an all time low. Roosevelt’s campaign capitalized on Hoover’s failings and promised a new approach to the economic crisis.

During the banking panics in 1930, 1931, and 1933, the Federal Reserve failed to provide adequate liquidity to struggling banks. This inaction led to numerous bank failures, and a significant reduction in the overall money supply as people were hoarding gold coins at home.

Just one day after taking office, by referencing an old World War I statute called the “Trading With The Enemy Act” of 1917, Roosevelt essential declared war on ordinary American citizens when he declared a four day bank holiday and closed all banks including the Federal Reserve.

A few days later, the Emergency Banking Act was signed into law which gave Roosevelt an unprecedented amount of power and control over the economy.

Just a month later, Roosevelt signed Executive Order 6102 mandating all American citizens to hand over their gold in all forms, including bullion, coins and other forms over to the US Treasury.

Public Response to EO 6102

During his “fireside chats”, Roosevelt portrayed the gold confiscation as a patriotic duty, suggesting that citizens should support the government’s efforts to revive the economy.

Millions of ordinary citizens were forced to hand over their gold or face prosecution from the federal government. In exchange, the government “generously” compensated people at the mandated gold price of $20.67 per ounce.

The executive order immediately ordered the US Mint to destroy all newly minted 1933 gold coins. Except for twenty coins were documented to be stolen.

Citizens were allowed to keep a nominal amount of gold, up to $100 worth of gold. In those days, that was the equivalent to just five $20 St-Gaudens Double Eagle Gold Coins. Today, those five coins are worth more than $12,000.

After the order, the US effectively went off the gold standard and allowed the Federal Reserve to increase the money supply by printing more fiat currency. Just thirty years after the establishing the Federal Reserve in 1913, Roosevelt signed over control of the economy to a cartel of bankers that profit from the debt that gets created by the government.

Exceptions to the Gold Confiscation

The exception allowed citizens to continue to own small amount of gold jewelry and up to $100 in gold coins.

Scott’s Stamp & Coin Company Advertisement from April 1934

There were exceptions for gold coins considered to be collector coins, those having numismatic value or being rare of unusual.

A 1934 issue of The Coin Collector’s Journal featured an advertisement from a local coin shop in New York City selling uncirculated $2.50 quarter eagle gold coins from the 1920s for $4.50, a premium of 180%.

With other denominations showing similar premiums due to the devaluing of the dollar by increasing the price of gold from $20 to $35 per ounce of gold.

Many investors looking for the stability of gold became coin collectors practically overnight. In addition to maintaining their intrinsic value today, these gold coins carry cultural heritage and historical significance. American’s during that time understood the true value of gold.

In today’s market it is common to find Pre-1933 gold coins that may have an added jewelry clasp, which became a common way for citizens to continue to hoard gold. These bullion coins often have lower premiums and can be a cheaper option when compared with graded collectibles.

One of a Kind 1933 St Gauden’s $20 Double Eagle Gold Coin

One of the stolen coins was sold to King Farouk of Egypt, which was lost for decades before being turned over to the FBI by coin dealer from London named Steven Fenton in 1996.

The one of a kind 1933 St Gauden’s $20 Double Eagle gold coin eventually became legalized and was first auctioned by Sotheby’s in 2002 and was purchaed y shoe designer Stuart Weitzman. The coin hit the auction block again 2021, fetching more than $18,000,000.

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$10 Eagle Gold Coin

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Owning and appreciating gold coins can be both a collection and an investment. For some, the intention is towards the historical and aesthetic value of the coins. For others, the focus is on the potential appreciation of the coins’ value over time.

Investing in $10 Eagle gold coins is relatively straightforward, especially for those with an interested in numismatics or tangible assets.

The $10 Eagle gold coin contains 0.48375 troy ounces of gold and are made from an alloy of 90% gold and 10% copper. As tangible assets, these coins are valued not only for their gold content but also for their historical and collectible value.

The $10 Eagle was minted from 1795 until 1933 when FDR declared that all gold be seized, melted down and held as reserves in the Fort Knox Bullion Depository.

Throughout the years of minting there were three major designs that were issued in different eras.

  • The Capped Bust Series from 1795-1804
  • The Liberty Series or Coronet Head from 1838-1907
  • The Indian Head Series from 1907 until 1933

Capped Bust $10 Eagle Gold Coin (1795-1804)

1797 Turban Head $10 Gold Eagle

The Turban Head $10 Gold Eagle coin, also known as the Draped or Capped Bust Eagle, was a series of gold coins minted by the United States Mint from 1795 to 1804. The designer of this coin was Robert Scot, who was the first Chief Engraver of the United States Mint.

The Turban Head Eagle featured a portrait of Lady Liberty wearing a turban-like cap on the obverse, while the reverse showcased a bald eagle with a shield on its chest.

In the early years, mintages of these coins were extremely low. The first mintage to exceed 10,000 coins was in 1799, when 37,449 $10 gold coins were minted. 

Liberty $10 Eagle Gold Coin (1838-1907)

1893 Liberty Head $10 Eagle Gold Coin Obverse

The Liberty Gold series was designed by Christian Gobrecht, who became the third Chief Engraver of the U.S. Mint.

His classical rendition of Lady Liberty was inspired by neoclassical art prevalent during his time.

The design of the first Liberty Head $10 Gold Eagle was inspired by the portrait of Venus in Benjamin West’s Painting Omnia Vincit Amor (Love Conquers All).

Liberty Head $10 Eagle Gold Coin Reverse (No Mintmark)

It features a bust of Liberty facing left, wearing a coronet inscribed LIBERTY with thirteen stars encircling the bust and the date positioned below. Her hair is knotted in the back with hanging curls.

The reverse depicts an eagle holding an olive branch and arrows, surrounded by the inscriptions UNITED STATES OF AMERICA and TEN D. Mintmarks are situated in the area below the eagle.

President Theodore Roosevelt was not a fan of the Liberty series. He considered the designs to be unattractive and lacking in artistic merit.

Roosevelt’s quest for coins that reflected the nation’s grandeur led to the commissioning of renowned sculptor Augustus Saint-Gaudens, culminating in the 1907 introduction of the Indian Head $10 Eagle Gold Coin.

Indian Head $10 Eagle Gold Coin (1907-1933)

The Indian Head $10 Eagle gold piece was minted from 1907 to 1933.

The overall design of the $10 Indian gold coin is highly detailed and intricate and is a testament to the American spirit, artistry and craftsmanship of the era.

1908-D $10 Indian Gold Coin NO MOTTO Reverse

The public reaction to the Indian Head $10 Eagle gold piece design in 1907 was mixed, with a particular point of contention being the omission of the motto “IN GOD WE TRUST” on the initial coins.

This omission was noted by the public and the coins were criticized for it.

Teddy Roosevelt penned a famous letter explaining his feelings on the matter, in favor of keeping the motto off the coin.

However, the U.S. Mint responded to the public’s concern and the motto was added to the coin in 1908.

Less than 450,000 coins of the NO MOTTO variant of the Indian Head $10 Gold coin were minted before the US Mint updated the design. It’s unknown how many of these coins survived the gold seizure in 1933.

In today’s market, these coins are rare and some variants in higher Mint State (MS) condition can fetch up to $100,000 at auction.

While coins in lower MS condition, such as MS-63 are more affordable with room to appreciate in value.

The obverse of the coin features a unique and iconic design of Lady Liberty, inspired by the Greek goddess Nike. She is depicted wearing a Native American headdress, symbolizing the American West. This design was originally created by Augustus Saint-Gaudens and was adapted for the coin. The word “LIBERTY” is inscribed on the headband of the headdress, and the year of issue is at the bottom.

The reverse of the coin showcases a standing bald eagle perched on a bundle of arrows and an olive branch. This design represents both the strength and the peace-loving nature of the country.

The motto “E PLURIBUS UNUM” (meaning “Out of Many, One”) is inscribed on the left, and the denomination “TEN DOLLARS” is on the right. The words “UNITED STATES OF AMERICA” encircle the top of the design, with the motto “IN GOD WE TRUST” added in 1908, positioned to the left of the eagle.

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Celebrate Wildlife Conservation with Big Five Silver Coins from South Africa

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Introduced in 2019, the series highlights the “Big Five” animals—a term that originally referred to the five most dangerous animals to hunt on foot. These animals are the lion, elephant, buffalo, leopard, and rhinoceros.

The choice of the Big Five reflects the country’s focus on wildlife conservation while highlighting the importance of wildlife tourism to South Africa’s economy and the country’s rich natural heritage. These animals are not only symbols of Africa’s biodiversity but also of conservation efforts aimed at protecting these species from threats such as poaching and habitat loss.

One of the unique aspects of these coins is their two-in-one design. The designs capture these majestic creatures with intense expressions, showcasing the intricate details such as the fur texture, the contours of the face, and even the reflections in the animals’ eyes, bringing each portrait to life.

When two coins are placed next to each other, a complete close-up portrait of the animal’s face is formed. This design feature encourages the acquisition of pairs of coins for a complete set. Each coin is released with a limited mintage of just 15,000 coins and is struck from 1 ounce of .999 fine silver.

2023 Big Five Series II Leopard

The latest release include coins featuring the Leopard and the Cape Buffalo.

2023 Big Five Leopard Silver Coin

Known for its elusive nature and striking appearance, the South African Leopard is found throughout sub-Saharan Africa. The leopard is one of the most admired and respected wild animals in Africa, featuring prominently in both cultural folklore and wildlife conservation.

The obverse of 2023 1 oz South African Big Five Leopard Silver Coin shows the close-up detailed face of a leopard, with its head tilted slightly to the side, with the South African Coat of Arms in the center along the bottom. The reverse shows two halves of a leopard’s face with a circular feature in the center that contains the weight, purity and legal tender face value.

The leopard is a master of stealth and an apex predator that is famous for its beautifully marked coat, dotted with black rosettes and spots which provide camouflage in its natural environment.

Much of the leopard conservation effort hinges on protecting sanctuaries such as Kruger National Park and the Kgalagadi Transfrontier Park where leopards can roam freely and safely.

2023 Big Five Buffalo 1 oz Silver Coin

2023 Big Five Buffalo Silver Coin

Cape buffalos are large, robust animals, with mature males weighing up to 2,000 pounds or 900 kilograms. They are characterized by their impressive horns, which have fused bases forming a continuous bone shield referred to as a “boss,” making them one of the most recognizable features of these animals.

The obverse of 2023 1 oz South African Big Five Buffalo Silver Coin shows a close-up side profile of the head of a buffalo. The words “South Africa” and “Big Five 2023,” as well as the coat of arms is included.

The reverse side depicts two halves of the face of a buffalo with a circular feature in the center that contains the weight, purity and legal tender face value.

South Africa buffalo are highly social creatures and their large herds often subdivided into smaller groups for females with calves, bachelor groups for males, and mixed sex groups.

Poaching remains a threat due to the value of the horns and meat. Much of the conservation efforts for Cape buffalos involves maintaining and securing protected areas such as the Kruger National Park and private game reserves are crucial sanctuaries where these animals can roam freely and safely.

The Rand Refinery

The Rand Refinery, established in 1920, is one of the largest and most famous gold refineries in the world. It is located in Germiston, South Africa, and was founded by the Transvaal Chamber of Mines to refine all of the gold produced by South Africa’s gold mines.

The refinery is famous for producing the gold Krugerrand, but also provides a range of products and services, from gold bullion bars and coins to value-added services like smelting and refining.

South Africa is rich in a variety of minerals including gold, diamonds, coal, platinum and mining has been a pivotal aspect of South Africa’s economy since the Witwatersrand gold rush of 1886.

Today, South Africa remains a major mining hub and the sector continues to be a vital part of South Africa’s economy and a major employer.

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Investment Grade Silver Coins

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In a world of ever-changing economic landscapes, investors often seek ways to protect and grow their wealth. One such asset class that has been a cornerstone of wealth preservation for centuries is precious metals, with investment grade silver coins being a popular choice due to affordability and potential for appreciation.

Investment grade silver coins are high-quality, government-minted coins that contain a specified amount of pure silver. These coins are recognized for their silver content, purity, and legal tender status, making them a reliable store of value. Some popular examples of investment grade silver coins include the American Silver Eagle, Canadian Silver Maple Leaf, and the Austrian Silver Philharmonic.

As the purchasing power of fiat currencies erodes, the value of silver can help maintain purchasing power due to its historical role as a hedge against inflation.

For example, the American Silver Eagle was first issued in 1986 when the average silver price was $5.87 per ounce and the average gas price was around 90 cents a gallon. One ounce of silver was roughly the equivalent to 6.5 gallons of gasoline.

By comparison, in 2023 the average silver price was $23.40 per ounce, while the average price of gas was $3.52 per gallon. Which makes one ounce of silver roughly the equivalent of 6.65 gallons of gas.

Unlike stocks, bonds, or cryptocurrencies, investment grade silver coins are physical assets that can be held and stored securely. This tangibility provides a sense of security and control over one’s investments.

While each government mint has its own specifications, bullion investment coins are typically minted with 1 troy ounce of silver of .999 or .9999 fine silver. Though some mints offer coins in both larger and smaller denominations to accommodate the needs of different types of investors.

US Mint American Silver Eagles

The American Silver Eagle is the only investment-grade bullion coin issued by the US Mint. The 1 oz Silver Eagle was introduced as a trusted and reliable store of value of value and wealth in 1986.

Silver Eagles are made of .999 fine silver and carry a legal tender face value of $1. As legal tender, the coins are backed by the U.S. government and are recognized and traded worldwide.

During the 2008 financial crisis and Great Recession, the demand for American Silver Eagle coins surged significantly. In 2008, the U.S. Mint sold 20,583,000 bullion coins, a massive increase from the previous year and nearly doubling the prior record.

This spike in demand was a direct response to the economic uncertainty and the sharp increase in the price of silver at that time. The popularity of these coins among investors as a store of value and a hedge against inflation was evident during this period.

Current year 2024 Silver Eagles are minted based on investor demand and confirmed orders from Authorized Purchasers. Already during the first four months of the year, the US Mint sold more than 10 million American Silver Eagle coins. Some of this can easily be attributed to the availability of American Silver Eagle Tubes at major retailers like Costco, which has helped to increase awareness and demand amongst a larger pool of investors.

Secondary market silver coins can often be a way for investors to find lower premiums. Secondary market Silver Eagles were bought in previous years and have been previous liquidated by selling to a bullion dealer or broker. These coins are then resold by dealers at a reduced premium compared to current year coins.

Royal Canadian Mint Silver Coins

The Canadian Silver Maple Leaf is one of the purest silver coins on the market, with a purity of .9999 fine silver.

The reverse of the coin features the Sugar Maple Leaf design, a national symbol of Canada. The obverse of current coins shows a portrait of King Charles. Secondary market Maple Leaf 1 oz Silver Coins will most often be from previous years that feature one of various portraits of Queen Elizabeth.

The Royal Canadian Mint incorporates several advanced anti-counterfeiting measures in the design of the coin, making it one of the most secure bullion coins in the world. These measures include:

  • Radial Lines: The coin features a unique background of light-refracting radial lines that create a distinctive sparkle, making it difficult to replicate and also makes it appealing from an aesthetic standpoint.
  • Micro-Engraved Maple Leaf: A micro-engraved textured maple leaf, which is visible under magnification, is added to the coin. This feature is also used to mark the coin’s year of issue.
  • Bullion DNA Technology: The Royal Canadian Mint employs its proprietary Bullion DNA anti-counterfeiting technology, which involves laser micro-engraving a small maple leaf on the coin’s surface. Each mark contains an encrypted code unique to each coin, which can be authenticated through a secure database.
  • MINTSHIELD™ Surface Protection: This technology reduces the occurrence of white spot discoloration on the coin’s surface, ensuring the coin retains its visual appeal over time.
  • Serrated Edges: The coin features serrated edges, which not only enhance its aesthetic appeal but also make it harder to counterfeit.

Silver Maple Leaf coins are available only in a 1 troy ounce denomination. These coins are highly liquid and widely traded in the secondary market like other bullion investment coins. Secondary market Maple Leafs can have coins from previous years, including those that may have been issued prior to the RCM solving the milk spot issues. However, these coins are often available at a even deeper discount from those looking for the lowest dollar-cost average.

Austrian Mint Philharmonic Silver Coins

Austrian Silver Philharmonic coins are an excellent, lower premium alternative to American Silver Eagles. They are minted with a purity of .999 fine silver, making them a high-quality option.

One significant aspect of the Philharmonic Silver coins is their lower premium over spot price compared to some other bullion coins. This makes them a more cost-effective choice for those looking to invest in physical silver.

Despite this lower premium, the coins are still widely recognized in the global market, especially in European markets, due to their association with the renowned Vienna Philharmonic Orchestra and the Austrian Mint’s reputation for quality.

The coins celebrate the rich cultural heritage of Austria, featuring the Vienna Philharmonic Orchestra on the coin’s obverse and the Great Organ of the Golden Hall in Vienna’s Musikverein on the reverse.

Britannia Silver Coins from The Royal Mint

The Silver Britannia coin is minted with .999 fine silver by the Royal Mint, which is known for its high-quality standards and tightly controlled production protocols.

The Britannia Silver coin has a highly detailed design that showcases Britannia, the female personification of Britain, holding a trident and shield on the reverse.

For the 2024 Britannia Silver Coin, the obverse features a portrait of His Majesty, King Charles III. While many secondary market Britannias will be from previous years featuring a portrait of Queen Elizabeth II.

The Royal Mint incorporates several advanced anti-counterfeiting measures into each coin. These include a latent image on the coin’s surface that changes from a padlock to a trident when viewed from different angles. Additionally, the coin features micro-engraved details and a textured background that is difficult to replicate, ensuring its authenticity and integrity.

The Britannia 1 oz Silver Coin is often available at a lower price than other investment coins, making it a top choice for investors looking for the best priced silver coin.

South African Mint Krugerrands

The Krugerrand Silver Coin features the same iconic design as the gold Krugerrand, but is minted with .999 fine silver. The obverse showcases a portrait of Paul Kruger, the first president of the South African Republic, while the reverse depicts the national animal of South Africa, the springbok, against a backdrop of the country’s landscape. This design has been widely recognized and appreciated since the introduction of the gold Krugerrand in 1967.

Perth Mint Silver Coins

The Kangaroo 1 oz silver coin is a bullion coin produced by the Perth Mint in Australia. Since 2016, it has been produced annually with unlimited mintages as legal tender under the Australian Currency Act of 1965. The coin is struck from .9999 fine silver, making it a highly pure silver investment option.

The design of the coin features a bounding red kangaroo surrounded by rays of sunlight, symbolizing Australia’s vast natural beauty. The reverse of the coin also includes the inscription “AUSTRALIAN KANGAROO”, which also contains a micro-laser engraved letter. This security feature allows for easy authentication of the coin’s genuine nature. Also incorporated into the reverse design are the Perth Mint’s “P” mintmark, the year of issue, and the weight and purity of the coin.

Apart from the Kangaroo 1 oz silver coin, the Perth Mint offers several other investment-grade silver coins. These include:

  • Australian Lunar Series: The Perth Mint’s Lunar Series is one of its most popular offerings. Each year features a different animal from the Chinese zodiac, with 2024 showcasing the Year of the Dragon. The coins are available in various sizes, including 1 kg, 10 oz, 5 oz, 2 oz, 1 oz, and even smaller fractional sizes.
  • Koala Silver Coins: Introduced in 2007, the Australian Koala silver coins are another popular series from the Perth Mint. Like the Lunar Series, Koala coins are available in multiple sizes, with the 1 oz version being the most common. The mintage is limited with each year featuring a new design, adding to their collectibility.
  • Kookaburra Silver Coins: The Kookaburra series started in 1990 and features the iconic Australian bird. Similar to the other series, the Kookaburra coins are available in various sizes, with the 1 oz version being the most popular. Each year showcases a new design, making the series appealing to collectors.

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How do Costco Gold Bar Prices Compare

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Costco added a several product lines of 24k Gold Bars to their online store and select warehouses last year, to which their members have taken quite a shine. These investment-grade gold bars are minted from 24k pure gold (.9999 fine) and are minted by a variety of private refineries.

Periodically, Costco will post gold bars for sale on their website at a fixed price relative to the current gold price.

On a recent trading day, Costco offer PAMP Suisse 1 oz Gold Bars for around $61 over that day’s gold price, which was a premium of around 2.6%. The lowest dealer price for the Lady Fortuna Gold Bar that day was around $76 over melt value, roughly 3.24%.

It’s estimated that they are selling up to 80,000 ounce per month. While the low premiums are low, many are maxing out the Executive Membership rewards while leveraging credit card offers to maximize cash back for buying gold bars.

Costco offers these various gold bars with a limited inventory like a “flash sale”. Once the available stock is sold out, the listing becomes inactive. The r/CostcoPM group on reddit tracks the latest offerings as they are available, but most Costco gold bars are sold out within an hour or two.

These same brands of gold bars are generally available in the bullion markets and can be bought from many trusted and reputable bullion dealers.

Most investors in physical gold bars will become familiar with the local coin stores in their area and will also have a handful of favorite online dealers. Not only can this be helpful in adding to your portfolio, but it is also good for down the road, when its time to sell. Local coins stores actively trade in precious metals due to their expertise in gold coins and are familiar with market conditions.

The employees at local coin stores can be extremely knowledgeable when it comes to tangible assets and will often have insights into the buy/sell spread in the local area. While online bullion dealers offer a large selection of products, including bars that are available in a variety of denominations that are less than a full ounce. Fractional gold bars are available in a range from as small as 1 gram to as large as 20 grams and are popular will investors with more modest budgets.

The smallest denomination available from Costco so far has been the 25 gram PAMP Multigram gold bar, which is comparable in price to a full 1 oz gold bar. Buyers looking for smaller denominations of fractional gold bars will have more choices shopping with online bullion dealers.

The brands that Costco has offered so far have been limited to those from PAMP Suisse and the Rand Refinery. Both are among the most reputable refineries and private mints, however, the cheapest 1 oz gold bars are often those from the secondary market.

RAND Refinery

Established in 1920, The RAND Refinery plays a central role in processing gold from the renowned South African gold mines. With over a century in operation, the RAND Refinery has established a strong reputation for reliability and quality in the global precious metals market which contributes to its trusted status among investors and collectors.

Depending on the market conditions, gold bars from the RAND Refinery can be cheaper and may be more cost-effective with a lower price per ounce compared to those from other refineries. RAND Refinery’s gold bars are a highly liquid investment that is recognized and accepted worldwide.

RAND 1 oz Gold Bar

Costco Product Page: Item #1768080

RAND 100 Gram Gold Bar

Costco Product Page: Item #179644

PAMP Suisse

PAMP Suisse is a private mint based in Ticino, Switzerland. Established in 1977, the company has grown to become a leader in the precious metals industry with an outstanding reputation for producing gold bars of the highest quality. Each newly minted gold bar is produced to the industry standard of .9999 fineness and is accompanied by an assay certificate that guarantees its purity and weight.

PAMP Lady Fortuna Series

The Lady Fortuna has received several updates and refinements throughout its 45th year history, making it the most iconic and recognizable brand in the gold market.

Combined with PAMP Suisse’s industry leading Veriscan technology that captures the unique topographical characteristics of each gold bar. A mobile app is available that allows investors to instantly authenticate PAMP Suisse Gold Bars by uploading a series of images, which are then compared to those stored in Veriscan database during the time of minting. This anti-counterfeiting measure helps assure investors that they are buying genuine investment-grade gold bars.

1 oz Lady Fortuna Gold Bar

PAMP 100 gram Lady Fortuna Gold Bar

Costco Product Page: Item #1801206

PAMP 50 gram Gold Bar

Costco Product Page: Item #1782174

PAMP 1 oz Lady Fortuna Gold Bar

Costco Product Page: Item #1748080

PAMP 20 gram Lady Fortuna Gold Bar

Costco Product Page: Item #1782171

Multigram+25 Gold Bars

The PAMP Multigram+ line contains various quantities of 1 gram gold bars in a single assay card. The card is divisible and each 1 gram gold bar can be separated while staying sealed within a mini assay card.

So far, Costco has only offered to Multigram+25, which contains 25 grams of .9999 fine gold. Other sizes in the product line include the Multigram+12, which contains 12 individually sealed one gram gold bars. Additionally, the Platinum Multigram+25 is also available, which can provide some additional diversity to your holdings.

PAMP Multigram+25 1 gram Gold Bars

Costco Product Page: Item #1811661

PAMP Rosa Series

The most distinctive feature of the Rosa series is the intricate rose design engraved on the bar’s obverse side. The detail, sophistication and precision of PAMP Suisse’s refining and minting process is showcased with PAMP Rosa design.

The Rosa design features a single, detailed rose in full bloom at the center of the bar. The rose, with its layered petals unfolding, is depicted with fine lines that showcase the intricacies of its natural form.

Surrounding the rose is a plain, mirror-like finish that contrasts with the textured detail of the rose encased within a border that frames the design, giving it a finished, refined look.

The reverse of the bar is stamped with the PAMP hallmark circles logo, along with the weight and purity information and a unique serial number that matches the tamper evident assay card.

PAMP 100 Gram Rosa Gold Bar

Costco Product Page: Item #1782169

PAMP 50 gram Rosa Gold Bar

Costco Product Page:

PAMP Rosa 1 oz Gold Bar

Costco Product Page: Item #1782167

The Rosa design is one of the signature motifs from PAMP Suisse. The rose is a symbol of beauty, love, and often secrecy. The PAMP Rosa design taps into this rich symbolism and the universal appreciation for the flower’s beauty.

Each minted gold bar is made using a die-striking process that imprints the design onto the bar.

PAMP Lunar Legends Series

Like other PAMP Suisse products, the Lunar series bars are available in high purity .9999 fine gold. The designs are renowned for their intricate detailing and artistic quality. To celebrate the Year of the Dragon, PAMP Each bar features an image of the zodiac animal for that year, often depicted in a style that combines traditional and modern artistic elements.

The Azure Dragon is part of the Four Symbols and is considered important for creating balance and harmony in the environment. It is often paired with the White Tiger on the opposite side to balance yin and yang energies.

Each bar comes packaged in a tamper-evident assay card with an individual serial number and a certificate of authenticity.

PAMP Lunar Legends Azure Dragon 1 oz Gold Bar

Costco Product Page: Item #1778080

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Precious Metals 101: Buy the Spot Price Deals

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As an incentive to new customers, some online dealers offer spot price deals to new customers as motivation to make a purchase. By combining all of the available spot price offers, it’s possible for an investors to build a small precious metals portfolio that contains roughly a kilogram of silver and 1 oz and 11 grams of gold.

Silver at Spot Price Deals

Silver at spot price deals are available to new customers. Each dealer has typical restrictions that allow only one offer per household. These offers are low risk path to invest in silver. Some offers include free shipping, some don’t. It’s important to check the fine print on each dealers’ website for the exact terms and conditions, since these can change at anytime. Many online dealers today have a minimum order amount to qualify for free shipping. Some of the offers meet the threshold and qualify, but some do not.

Gold at Spot Price Deals

In addition to the silver offers above, some dealers offer gold at spot price as well. These deals carry the same types of restrictions as the other offers, but are an opportunity for those interesting in buying gold to start a small precious metals portfolio while saving on dealer premiums.

  • JM Bullion – The JM Bullion Gold Starter Pack allows investors to buy a 1 oz gold bar at spot price.
  • SD Bullion – The Doc at SD Bullion has an offer for a 10 gram Gold Bar at Spot Price. The bar is minted by Argor-Heraeus and incorporates their Kinebar hologram innovation that is almost impossible to counterfeit.
  • APMEX – Available to new customer in the APMEX app, you can get a 1 gram gold bar at spot price. Simply install the APMEX app on your phone, create a new account and add the bar to your cart.

All of these deals are a good way for beginning investors to get their hands on physical precious metals. By combining all of these offers, you will have a diverse precious metals portfolio that contains a combination of investment-grade silver bars, silver rounds and silver coins, along with a variety of 24k gold bars.

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Easy Ways to Sell Costco Gold Coins for Cash

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With regards to precious metals, Costco has revised the return policy for these products. One of the caveats in the fine print is that gold coins are not-returnable, unlike virtually every other item that they sell.

It’s been estimated by analysts at Wells-Fargo that the warehouse club could be selling as much as $100 to $200 million in gold per month, which is as much as 75,000 to 80,000 troy ounces per month.

Even though Costco’s extensive list of available gold products, a quick scroll through the r/CostcoPMs forum on Reddit that tracks precious metals offerings shows that majority recent offerings have been American Buffalo and American Eagle Gold Coins, Maple Leaf Gold Coins and gold bars in various sizes from 1 oz to 100 grams from PAMP Suisse and RAND Refinery.

There are a variety of options available if you’re sitting on a stack of Gold Buffalo bought from Costco and want to sell for cash and get the highest price possible, .

The Wall Street Journal recently reported that selling gold bars takes a bit more effort than the few clicks it takes sell stocks, bonds or crypto. Gold is a tangible asset, unlike stocks, bonds and crypto. It’s something physical that can be stored in your possession.

Once you have an understanding of the various places that you can sell gold, the process can be easy and simple.

Local Coin Shops

The Local Coin Stores in your area are a good starting point when looking to sell gold coins.

When you’re looking to sell gold coins, the first thing to do is contact the local coin stores in your area. Some local coin shops will post their buy and sell prices for bullion coins and bars on their websites. While others may be able to provide you with an appraisal or estimate over the phone.

When you contact the local shops, it’s a good idea to have an idea of what the current spot gold price is trading at. Many local coin shops will use the current market price when making a bid for your gold. However, some may use to closing price from the previous day. This is common if you are selling over the weekend or on holiday when the trading markets are closed.

It’s a good idea to contact at least 2 or 3 local shops. Expect to get a wide range of offers since each dealer will have their own buy/sell spread, with some being absurdly low, while some will be within typical market ranges.

The offers you get when you sell 1 oz Gold American Eagle Coins to a local coin shop should be slightly above the melt value. The exact rates will vary depending on local market conditions, the condition of the coins and the volume of coins in the secondary markets.

Many local coin shops also accept walk-ins without an appointment. You can often just walk in with your gold coins and lay them on the counter to receive an immediate offer. The clerk will inventory what you’ve brought and assay any pieces they may need additional confidence in.

The Sigma PMV machines have become standard equipment for any business that trades in precious metals, especially local coin shops. These devices use the electromagnetic resistance to verify gold coins without causing damage to the coin. These devices can also verify the purity and composition of coins that are encapsulated. Extensions wands allow testing of smaller pieces.

Depending on the value, some dealers may pay cash, but most will probably pay with a check.

Online Bullion Dealers

Most online bullion dealers are specialists in the trading of precious metals. While each dealer has a process that is unique to their business, some dealers make it easy for you to do a self-appraisal of sorts by publishing their buy back rates on their websites. This helps to get an estimate of what each piece in your collection is worth.

Others may require you to contact them and submit the details of which gold coins you would like to sell via email, chat or a form on their website. Each will have a unique buy back price as well as a process for handling the intake, which they will provide to you once you contact their sales team.

Typically, online dealers will make an offer for your precious metals based on the current market rates. You will be required to mail the metals to their intake center if you agree to sell them the metals at the quoted price. Some dealers will provide a mailing label to cover the cost of postage, while others may require you to send the metals at your cost.

Once the dealer receives your metals, they will inspect each piece and test on a Sigma or XRF to ensure that each piece is genuine and authentic. Once everything is confirmed, the sales team will issue payment, most typically via check or ACH.

eBay

eBay is notable for collectibles, however, they are also the largest online marketplace for buying and selling precious metals. Beyond numismatics and collectibles, many of the largest online bullion dealers including Bullion Exchanges, APMEX, and JM Bullion sell many of the same products through eBay. eBay offers large volume sellers higher discounts on listing fees, final valuation fees and includes other incentives to help keep the prices low.

There are even times when dealers will offer a product for a lower price on eBay than on their own website. It’s hard for individual collectors and investors to compete when selling bullion gold coins like Gold Buffalos and Maple Leafs.

While the selling fees make it prohibitive for individuals to sell, eBay does offer a precious metals buy back program that is managed by APMEX.

Facebook Groups, Reddit and other Online Forums

There are thousands of Facebook groups, Instagram and TikTok channels focused on the buying/selling/trading of gold coins and other precious metals. Many are operated by local coin shops, investors, coin clubs, collectors, numismatists, traders and other enthusiasts.

There are various groups on Reddit that have developed community ratings systems that help identify active members with a positive reputation.

While its possible to sell coins through these online communities, developing trust as a seller is something that takes a number of transactions with positive feedback.

Pawn Shops and Cash4Gold Stores

There are around 11,000 pawn shops in the US, with the highest concentrations of stores in lower-income areas. Pawn Shops and Cash4Gold stores are typically considered places of last resort for selling gold coins.

Selling gold coins to pawn shops may seem convenient and quick, but their primary aim to make a profit when they resell items. This means they need to purchase yours at a lower price to ensure they make a profit upon resale, regardless of changes to gold price. As a result, offers from pawn shops might be significantly below the market value of your coins.

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Divisible Gold Bars Can Help in Being Prepared

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Divisible gold bars are a popular solution for helping investors stay prepared for any financial emergency. These physical gold bars are a tangible asset that you can store at home alongside other valuables and are available from a variety of manufacturers in a variety of sizes and weights that can provide immediate liquidity.

Having fractional gold bars set aside is wise for financial preparedness because it offers a reliable and accessible reserve that can be used in times of need. Gold’s status as “real money” is backed by its physical properties, intrinsic value, and historical role as a medium of exchange and store of wealth, making it one of the most trusted assets to hold in uncertain times.

Gold is highly liquid and can be quickly and easily converted into cash, making it a practical asset to hold for emergency needs when quick access to funds is necessary.

Three of the leading precious metals refineries in Europe mint divisible gold bars that allow investors to break off the amount necessary if it becomes necessary to sell.

PAMP Suisse Multigram

The PAMP Suisse Multigram gold bars are especially suited for investors who appreciate the flexibility of smaller divisible units. They are also perfect as thoughtful, valuable gifts for special occasions.

PAMP Suisse Multigram+25 Gold Bars

Each unit of gold is the same as every other unit and ensures that all gold of a particular weight and purity is valued the same.

In the Multigram+ series, multiple 1 gram bars are presented in a single sheet, where each bar is in its own compartment within a larger assay card. This card is perforated, allowing individual bars to be detached without compromising the remaining bars’ security and authenticity. Individual 1 gram gold bar is packaged in a sealed protective assay card, which includes the bar’s weight, purity, and a unique serial number.

The packaging is designed not only for protection but also provides essential assay information about the metal content and certification.

Argor-Heraeus GoldSeed 10×1 gram Gold Bar

Argor-Hereaeus GoldSeed 10×1 gram gold bars

The GoldSeed 10x1gram is unique divisible gold bar from Argor-Heraeus that is presented in a circularly arranged assay which represents an innovative approach to combining traditional investment with modern concerns for being prepared for a variety of situations.

Divisible gold bars allow for a flexible approach to investment. The individual bars are ideal for gifting or trading, providing a practical and elegant option for transferring wealth or paying with gold in small increments. In emergency situations or times of economic instability, divisible bars can be used as a form of currency or barter, providing smaller, more practical units for everyday transactions. Owners can sell or trade small portions of their gold holdings without liquidating the entire bar. 

The GoldSeed bar provides immediate access to ten individual 1 gram gold bars that is minted with .9999 fine gold. Divisible gold bars are a popular way to buy a pragmatic option that offers investors flexibility and easy liquidity.

Valcambi Gold Combibars

The Valcambi Combibar is an innovative gold investment product that combines the security and stability of gold bullion with unmatched flexibility and practicality. Its unique design and features make it a valuable tool for financial preparedness, suitable for a wide range of scenarios from economic uncertainty to long-term wealth preservation.

Combibar 1 oz Gold Bar, pre-scored to be easily divisible into individual 1/10 oz gold bars

Whether used for investment diversification, emergency preparedness, or as a portable store of wealth, the Combibar line offers significant advantages to modern investors looking for divisible gold bar options.

The Combibars are available in an array of weights, sizes and denominations that range from as small as 5 grams to as large as 100 grams.

Available Weight Denominations

The Valcambi Combibar is also available in a variety of other precious metals, including silver, platinum and palladium for those interested in creating greater diversity in their portfolio.

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Gold Price Climbs Amidst Record Central Bank Buying and Tensions in the Middle East

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The spot price of gold rocketed past $2,400 per ounce in Asia this morning, topping out at $2,429.70 before the tamp down by the Wall Street after the New York opening bell. By afternoon, the price had settled down to around $2,342, $87 lower.

While consumers in China have been buying up small gold beans, the People’s Bank of China (PBOC), the country’s central bank, has been buying vast quantities of gold over the last couple of years while simultaneously dumping US Treasury Bonds and dollars.

Even though gold prices continue to trend upwards, consumers demand for gold in the United States keeps getting stronger.

An analyst from Wells Fargo estimates that Costco is likely selling between $100 to $200 million worth of gold each month. Based on the typical premiums that Costco prices their gold products, that’s somewhere in the range of 43,500 to 86,000 troy ounces per month.

By comparison, APMEX, one of the largest online bullion dealers has annual sales of around $2.4 billion, which is also around $200 million per month. A-Mark, one of the largest precious metals wholesalers, which owns JM Bullion, Provident Metals, BGASC and others, reported $9.3 billion in sales in its 2023 annual report.

Some industry analysts have speculated that China has taken over control of the gold price since the middle of 2022. In 2023, the PBOC bought roughly 735 tonnes of gold, a 23% increase over the record breaking buying of 597 tonnes in 2022.

Additionally, the Chinese government has created strong consumer demand for gold, particularly for younger generations that view gold as safe haven amid ongoing economic uncertainty.

Costco has limited their precious metals products to mostly 1 troy ounce coins and bars. With prices continuing to test record highs almost weekly, a more affordable investment option that many investors turn to is fractional gold bars and coins.

The US Mint issues the American Eagle Gold coin in three fractional denominations of 1/2 oz, 1/4 oz and 1/10 oz. Each of these fractional Gold Eagles shares the same design, purity, recognition and trust as the 1 oz coin, but are minted in smaller denominations that are more accessible to a wider range of investors.

These coins are minted in mass quantities by the Mint and are extremely liquid with an expansive amount of bullion dealers and others paying cash for gold.

Fractional gold bars are available in many different increments. With available sizes as small as 1/2 gram. However, the premiums for the smallest sizes can be relatively high. While denominations containing 5 grams or 10 grams of gold per bar can offer significantly lower premiums.

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Flipping Costco Gold Coins for Profit

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In some areas, it has become profitable to flip the 1 oz Gold Coins for a tidy profit. Depending on inventory levels, many local coin shops will pay a premium above the melt value for current year gold coins that are kept in their original Mint State condition.

Some investors are buying gold coins from Costco below melt value when factoring in the rewards. The premium on Costco’s gold coins appears to average around 2.5%. Once receiving them, they bring them to their local coin stores to sell back. If your local coin store will pay 3% above melt, then without factoring in other rewards, its possible to make a quick .5% profit.

Costco Executive members earn 2% cash back, up to $1,000 annually. This is essentially an annual rebate that must be spent on other products in the warehouse. When factoring in other credit card rewards, the potential profit from these transactions can increase by a few percentage points quickly.

The Costco Citibank card, for example, offers 2% rewards for all purchases at Costco and it is possible for those rewards to be deposited as cash into your bank account. Though you may have a better deal with the cards in your wallet.

The practice of flipping gold coins for profit as a side hustle has been around for a long time. Some investors hold onto coins for the arbitrage when the price of gold increases. Other investors look for opportunities to flip coins for a profit.

The profitability can vary depending on which part of the country you’re in and the number of gold investors in your local coin shop’s customer list.

Many investors find great deals on eBay, particularly for historic and vintage gold coins. This includes US Mint Pre-1933 gold coins and circulated gold coins from Europe, such as 20 francs and British Sovereigns. There are many trusted and reputable bullion dealers that use eBay as a sales platform to liquidate excess inventory, such as APMEX, Liberty Coins, Aydin Coins and Pinehurst Coins.

Having a good relationship with the folks at your local coin store is important. They have the best understanding of which coins collectors and investors in the local area have the most interest in, as well as a customer list of willing buyers.

They can also give you an idea of the prices they would be willing to pay, particularly for coins that are graded and encapsulated by reputable third-party grading services like NGC, PCGS and ANACS.

Graded Gold Coins are generally the most liquid and easiest to sell, as they provide verification of the authenticity as well as the condition.