Precious metals advanced for a second straight session, driving or padding weekly gains for silver, gold and palladium. Platinum, meanwhile, posted one of the sharpest increases among metals on Friday but still dropped over 1% on the week.
On Friday, gold for June delivery rose $7.80, or 0.4%, to settle at $1,945.60 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures moved ahead 1.1% this week after falling 1.6% last week. They are 6.4% higher on the year to date.
In looking ahead to next week, Kitco News offers the following forecasts via their Wall Street & Main Street surveys:
"This week, 16 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, ten analysts, or 63%, called for gold prices to rise next week. At the same time, six analysts, or 38%, were neutral on prices.
Meanwhile, 842 votes were cast in online Main Street polls. Of these, 478 respondents, or 57%, looked for gold to rise next week. Another 198, or 23%, said lower, while 166 voters, or 20%, were neutral in the near term."
Elsewhere, silver for May delivery climbed 8.8 cents, or 0.4%, to close at $24.823 an ounce. Silver prices registered a 0.7% weekly increase after sinking 3.8% last week. They are 6.3% higher on the year.
In PGM futures on Friday and for the week:
-
July platinum jumped $17.60, or 1.8%, to end at $975.60 an ounce, but declined 1.3% from a week ago.
- Palladium for June delivery soared $197, or 8.9% to end at $2,420.10 an ounce, for a 6.7% weekly gain.
Both are higher on the year so far with increases 1% for platinum and 26.6% for palladium.
US Mint Bullion Sales in 2022
Weekly sales of United States Mint bullion products improved for silver coins and were about the same, overall, for gold coins. In week-over-week comparisons:
- American Gold Eagles rose 26,000 ounces against 20,500 ounces
- American Gold Buffalos climbed 7,000 ounces compared to 11,000 ounces
- American Silver Eagles rose 425,000 ounces against no sales
- American Platinum Eagles were flat for a second week in a row
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Friday | Last Week | January | February | March | This Week / April | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 19,000 | 123,500 | 86,000 | 140,500 | 21,500 | 371,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 45,000 | 0 | 5,000 | 1,000 | 51,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 64,000 | 4,000 | 20,000 | 6,000 | 94,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 195,000 | 25,000 | 75,000 | 25,000 | 320,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 11,000 | 61,500 | 28,500 | 64,500 | 7,000 | 161,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 5,001,000 | 1,500,000 | 1,080,500 | 425,000 | 8,006,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 25,800 | 14,200 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oh no, my precious. I saw the slide in gold, silver, platinum and palladium. It’s like the stock market. Ups and downs. I’m in it for the long term, so it doesn’t bother me.
Antonio, today’s Triple Crown Winner! Wait till SENZA and Sir Kaiser see this
What’s the price of water? I’ve got natural springs. I’m in that for the long haul. Lol
Gotcha
22 Tons built to withstand Auric Goldfinger.
Auric, uses the Midas Touch on his dates https://www.youtube.com/watch?v=USD2Y7wRNgk
Goldfinger strikes again!
You can always motion for it if you feel you need it – the judge if very understanding
Sir Kaiser, speaking of how the Lesser Precious Metals fare, according to some analysts, Silver is the most undervalued commodity on the planet. You usually won’t regret buying something when its undervalued or selling it when it is overvalued.
The Gold – Silver Ratio has been tracked and recorded since 1693 however – I present the current 30 years which I belive paints an obvious picture to which I will leave you to draw your own conclusions
Right On
Honestly, who would have thought and I still don’t Warning Graphic Fakery https://www.youtube.com/watch?v=E2MmjIbd-sE
In past ages when the gold to silver ratio was 1:15 gold came from gold mines and silver came mainly from silver mines. Now In the age of industrial production, gold comes from gold mines and silver is a byproduct from other metal production whether it might be zinc, copper or gold. The silver produced doesn’t have to pay-its-own-way in the mine operations and can be dumped on the market as a perk to the principle mine product. I read variously 60% to 80% of silver production is secondary product.
I like your reasoning, Sir Kaiser. Without interventions and manipulation, I guess the gold to silver ratio would be somewhere between 20:1 and 40:1 based on the characteristics of this bull market cycle (a bit higher than your estimate of 10:1 to 20:1, which is closer to the long term historical ratio). If the manipulators ever loose control of the gold and silver markets, we could indeed see gold to silver ratios like these, as well as much higher prices for the metals themselves.
Sir Kaiser, you could apply your argument to Exeter’s Inverted Pyramid.
It’s no Hat-Trick Antonio, has done it again – his First on Thread record is Golden
Just kidding
How about San Antonio Circle, since he appears to be the patron saint of First Ons around here. Beat Antonio!
Like Beth Hart, you both make compelling points https://www.youtube.com/watch?v=3rYKLBCv6oM
Great idea Sir Kaiser, however,,,,,, it does sound like home work…….. I’ll get right on it https://www.youtube.com/watch?v=lzQ8GDBA8Is
I’m going with “The Strip” or more concisely Bellagio Fountain where you can get good Street Food and watch the girls skate by in their thongs https://www.youtube.com/watch?v=mnFBjCMCqvw
Gotcha https://www.youtube.com/watch?v=H-rEVVAw3-0
I’ll try to re-member that https://www.youtube.com/watch?v=HnzH15hwt48
SENZA, congratulations on the Goldmember quadruple entendre. Up until now, Sir Kaiser had only documented a Kaiser Roll triple entende.
Rich, Thank You Kindly – more where that come from look at the plating on this beauty
Major, another free online price guide for collector US Mint ungraded OGP/COA coins is the NumisMedia Price Guides, e.g., the NumisMedia Collector Fair Market Value (FMV) Price Guide. The free online PCGS Price Guide should only be used for PGCS graded coins and the NGC Price Guide should only be used for NGC graded coins. Both PCGS and NGC also provide their respective Population Report.
Dealer Wholesale Market Price Guides are usually by subscription.
Major, the NumisMedia price guide FMV prices are generally lower, but not always, compared to the average prices listed in the PCGS and NGC price guides or to actual retail prices. In that regard, it serves as another baseline for price comparisons.
I was reflecting upon 2 thread interests which independently those threads were inconclusive but considered together may shed light:
#1. Insuring collectible coins
#2. Taxes and Capital Gains on coins
The very short version of this scenario is that if a collection of coins is acquired, then gains value over time and finally, is stolen rather than sold; the benefits outweigh those of simply collecting, selling and paying taxes and capitol gains.
Apparently I may have just described the Art World but what say you about the possibility of applying to the coin world.
Hi Senza, your scenario would payoff if the insurance money is not taxed as income. I do not know if that is the case. I suspect any payout would be taxed as income (only because I find it hard to believe the government would let that opportunity slip by), but I know little about taxes or insurance. I think when you sell a stock, only the difference between the price you paid originally and the price you sell it for now is what you pay tax on (or get a break on). With a coin, the full amount you sell… Read more »
Hi Jeff, here is a recent article from Investopedia that provides some basic information on this topic (an especially relevant topic for this time of year, the dreaded tax season): Taxes on Physical Gold and Silver InvestmentsByCraig Anthony Updated December 31, 2021 Reviewed byJulius Mansa Many investors prefer to own physical gold and silver instead of exchange-traded funds (ETFs) that invest in these precious metals. While the tax implications of owning and selling ETFs are very straightforward, not many people fully understand the tax implications of owning and selling physical bullion. Below is a description of how these investments are… Read more »
Fortunately, we can write off our stock losses as long as we don’t partake in a “Wash Sale”
On the other hand collectibles coins are subject to capital gains if held more than a year and losses can’t be written off the last time I checked which was a while ago so something may have changed since then.
But this process of graders and dealers taking a piece of Art and inflating the value is just very similar to what I think is happeing with coins.
My suspicious mind at work again
Jeff and SENZA, a good recent reference on this subject is an Investopedia article, “Taxes on Physical Gold and Silver Investments” by Craig Anthony December 31, 2021
Thanks Rich,
Just as I suspected – the Richer (No Pun Intended) you are the Richer you get no surprise there https://www.youtube.com/watch?v=1g_r_j_i_6U
Yeah SENZA, and sometimes like this
Look what time did to these guys https://www.youtube.com/watch?v=5QgsfyML2uc
Bravo Bravo
And the start up money came from Tax Payers….
Exactly that’s why all the Youtube – Doom and Gloom Gurus have been wrong for so long – calling for the fake “Reset” and the next “Housing Crash” that just has not happened.
I’m in a boom area and these people who were in the stock market instead of buying gold and silver are now paying cash for houses and you don’t lose a house you paid cash for very often.
Thanks, Rich!
I will check it out.
If you have loses on coin sales you wouldn’t make a profit. Therefore there wouldn’t be a capital gain tax due. As the 28% is only due on gain (selling price-original cost-seller fees=profit)
Or am I misunderstanding how a capital gains tax is figured?
I’m not an expert on it but the capitol gains as far as I know are on profits exactly as you say –
The further down side to coin collecting is we can’t write off a loss if we sell one of those $73 coins for $23 we just lost $50 end of story – but with stocks at least you can write off the $50 if a wash sale is not involved
The IRS has it’s own written code for this you can google it and I think Rich mentioned Investopedia or investing.com may have better explanations.
Rich and Sir Kaiser,
You guys are red hot tonight it’s one bullseye for each https://www.youtube.com/watch?v=9unrZTlo9ns
And is this a sign of sentiment – 0 bids at .99 cents https://www.youtube.com/watch?v=JxpkQhJNpWI
The same thing is selling for $99 (pre-sale) by online dealers as a reference point.
We did him a favor after the post he started getting bids but he’s not even close to breaking even yet – the sad reality of Feebay
Yes, that’s a big 10-4 Good Buddy. The online dealers are charging about $40 less for the 2022-W ASE Proof compared to last year’s price for the 2021-W ASE Type 1 and Type 2 Proofs.
The same two looks my puppy gives me. You sure are cranking out great Awards for SENZA.
The scary part is I don’t even remember doing it
I’m impressed and “Reliefed” you guys are like Wedding Crasher’s on Red Bull https://www.youtube.com/watch?v=nCvRT2sy5FE
A even shorter version of your scenario: sadly, everything was lost in a Boating Accident.
Wow that’s weird – I never seen one of those with an outboard on it – mine had a 454 Marine Merc Cruiser aka Big Block Chevy with a self installed Nitrous Kit – just in case. I had 1 20lb. and 2 10lb NOS bottles mounted under the back seat – that would last me a whole weekend of Racing…. Some guys sing about it I lived it https://www.youtube.com/watch?v=ybcxIpb-R_0
Sweet NOS!
They start Juicing at a young age these days- another Bullseye you guys are unstoppable
I’m afraid of heights I fly low
To this day It baffles me – did girls like guys who look like girls? Or are they all freaks who follow the same code = we must become famous to spread our abomination lifestyle and become US Citizens. We better do something about that https://www.youtube.com/watch?v=Q45yicposyI
Wow I get it; Girls do like Guys who look like Girls
Many don’t speak English anyway and the rest are too busy to notice
As with everything Senza posts, remember Reagan’s old adage: Trust, but verify.
Piss off loser not interested in your thought’s, beliefs, comments or verification’s….. so Get
Sigh. Once again, you can believe anything you want and apparently do, but your hateful and hurtful comments about LGBTQ people and women are not appropriate on a coin forum — or anyplace else, actually. Kindly keep your homophobic and sexist comments to yourself.
.
Some sports just can’t be combined
Bravo Sir Kaiser, that one speaks for itself – I’m sure there must be a “Go Fund Me” link in there somewhere too
There is some action at the Inlet Kaiser, https://www.youtube.com/watch?v=CHg4y8Z-yG0
I’m still seeing this “Not Available” 16 days before it goes on sale
And
I think he already owns a nice piece of the back door and a few operators and presses inside
I’m sure your numbers are good – what I’m trying to figure out at this point is if the Vermont is already sold out via enrollments –
Yeah, as far as I know, because I’m certain that is what happened with the Sally Ride 3 Roll set.
On the US Mint enrollment page it says Not available on both Rolls and both Bags for Vermont American Innovation.
Rhode Island was a Fiasco too – one minute it was out of stock and a few days later there was plenty of stock – the incompetence of the US Government is at an alarming level – it’s every man for himself https://www.youtube.com/watch?v=YbCsxcffjBw
We just have get used to Silver from the US Mint costing $73 or more an ounce then immediately becoming worth less than $25 for that same ounce a millisecond after we purchase it – NOT.
It’s all getting too old and – they all think they can follow Trumps footsteps and take advantage of us without consequence but it’s obvious that people are digesting this and the end result is less faith in the US Government and that is the beginning of the end for any corrupt regime.
This Will Smith, thing is just another Hollywood attention grab because the World left them all behind like a strain of Covid.
Will Smith, is the Black version of Tom Cruise, and both the brain child of Hollywood taking 2 losers the World never wanted and shoving them down or throats.
Two morons showing their true colors
Thanks I thought I was in the Twilight Zone and the only one seeing it that way.
I’m good with that – I ‘m Enrolled and just hope the US Mint doesn’t pull any more funny business and take away some at the last minute..
I think we all have that one relative who takes it slow and easy, slices and dices and uses a lot of plastic wrap – it’s all good https://www.youtube.com/watch?v=lYqU95doAu8
I’ll bet he was a descendant of Cracker Jack
Count Down 3 Days until the next US Mint Disaster
Let’s Go Congratulations Set 2022!!
Rich,
Are you going for “Congratulations” 2022??????
Yeah SENZA, I’m going for it. Hoping the added chaos from the simultaneous release of the regular 2022-W ASE will give me some extra cover to pull it off. Everything considered, its certainly a recipe for disaster.
I would buy one to Flip but I sure don’t want to get stuck with it
It’s sold out but it’s not really sold out but the packaging is different but the coin is the same but how could that be if it’s sold out oh that’s right it’s not sold out maybe!
I’m Hungry!
Riddle me that and I’ll Riddle you this………………. https://www.youtube.com/watch?v=dSnosk4tWrg
Sir Kaiser, I just double checked and can confirm, there is no proof. It is either a misprint(s) error , fake news, or a hoax.
Rich and Sir Kaiser, I have mentioned this “Jeff Coins” previously; it’s a coin seller on Feebay and he offer’s his own-personal-invented enrollments for US Mint products. These enrollments have nothing to do “officially” with the US Mint but could easily fool someone into thinking otherwise; in fact, I have noticed in the accounts feedback that many of his buyers misunderstood what they were enrolling for. SO, lot’s of false information out there to keep us confused. I recall, the US mint canceled my Rhode Island American Innovation coin orders telling me they sold out – theN a week later… Read more »
P.S.
This thread is now open “Gold and Silver Mark Third Gains on Monday, April 11”
My Factory is backed up with awards waiting to be presented
SENZA, somehow I pictured your factory looking more like this…
We have a strict dress code at the factory even the mannequins must comply https://www.youtube.com/watch?v=l0KIxkU3PB8
I think it’s been there all along but after Trump paraded his success by debauchery and corruption the gloves and masks have come off and the powers that be have no shame in openly abusing and abandoning the rest of us – maybe that’s the New World Order Sleepy Joe has been babbling on about. And it wasn’t that long ago a child was eaten by an Alligator at Disney World and now the employees are trying to devour children – they just added a retired judge to the list of Disney Pedophiles they busted recently. These forces of Evil… Read more »
I guess nations go bankrupt just like people do, slowly at first, then all at once.
Let’s take your mind off all of that and see if you can find the secret shield in the new UK Coinage when all coins are placed in the proper secret order………………………..
Yes, and they should publish an errata.
Just popped over to Coin World – very boring there 2 comments and one was challenging the Coin World author’s assertions which further backs up your findings.
Someone mentioned a 500,000 ASE enrollment limit with unlimited additional coins available on April, 14 on the website – even if it was just 500,000 or 200,000 it’s just too many and there’s no value in that product with those kind of numbers not to mention but I will – your paying over $70 bucks for $20 Bucks of Shiny.