Frequently Asked Questions about US Mint Coins for Sale
Every year the US Mint offers new collectible and commemorative coins to the public. Here are answers to the most important questions about buying coins from the US Mint.
Can I buy bullion coins from the US Mint?
The US Mint does not sell investment coins directly to the public. However, they offer a limited number of the same precious metal designs in polished and uncirculated versions. The US Mint sells precious metal investment coins to a select list of authorized buyers, who in turn sell to wholesalers who sell to the public. The US Mint has a list of precious metals dealers on its website where you can buy US investment coins as legal tender.
Comparison of US Gold Eagle and Silver Eagle Coins.
Can I buy gold and silver directly from the mint?
Since you cannot buy uncirculated bullion coins from the Mint, investors have two options for buying precious metals directly from the US Mint.
First, you can buy the American Silver Eagle and American Gold Eagle coins from the mint. Second, you can buy any commemorative or collector’s gold and silver coins that the US Mint has on sale. With both options, the coins are more expensive than their bullion coin counterparts.
Can I buy gold bars from the US Mint?
No, the United States Mint does not make gold bars for sale. However, other state mints do, such as the Perth Mint (Australia) and the Royal Canadian Mint.
Why is the number of some coins limited?
Many commemorative coins, proof coins and coins with the special “uncirculation” finish have circulation restrictions. For commemorative coins and medals, the limit of circulation is set by Congress in the Coin Approval Act. Other collector coins and medals may have circulation restrictions set by the mint itself.
Circulation restrictions increase the perceived collector’s value of the coin. Numismatists are usually not interested in coins that are produced in unlimited numbers. This applies to numismatic coins from any mint, not just the US coin.
US Mint logo.
What are order limits and budget limits?
Many limited edition items have greater demand than supply. The US Mint places order limits or budget limits on purchases of these items. This is intended to give customers a better chance of buying the item compared to situations where a company could buy them all up for resale at higher prices.
- Order limit: Order limits limit the number of a specific item that can be purchased by a single person or company.
- Budget limit: Budget limits apply to delivery addresses. If two people live at the same address and there is a household limit of 1 on the coin, only one person can buy one. If the household limit is 3, up to three people can buy one at the same address. If only one person was interested in the coin, they could buy the budget limit themselves, in this case 3 coins
Why is the US Mint changing its prices on some coins?
The US Mint does not receive any tax money. In fact, the US Mint is expected to make a profit every year and send the proceeds to the Treasury Department to be used for the national debt.
With this in mind, the prices for precious metal coins and medals are set. However, a surge in precious metals prices could cost the Mint more than it charges. Conversely, a sharp drop in precious metal prices should be passed on to the buyer.
That is why the US Mint a Price range table weekly to set the price of the precious metal coins and medals currently available. If the average weekly price of gold, platinum or palladium changes enough, it can end up in a different zone than the previous week. In this case, the Mint will adjust the affected coins by a fixed amount. Price changes take effect the following week.
If the average weekly gold price moved from $ 1,842 / ounce to $ 1,863 / ounce, the price of the limited-edition American Gold Eagle 1/4 oz coin would rise from $ 715 to $ 727.50 over the next week. The 1-ounce proof American Gold Eagle would sell for $ 2,750 next week, down from $ 2,700.
The price of platinum fell by nineteen dollars from $ 917 to $ 898. The following week, the price of the 1oz-proof Platinum American Eagle would drop fifty dollars from $ 1,495 to $ 1,445.
The US Bullion Deposit at Fort Knox.
Why does the US Mint sell circulation coins for more than face value?
If this is your first time looking at the circulation coins on the US Mint website, you might be surprised at how much they cost. For example, a roll of 25 Native American $ 1 coins is $ 34.50 + $ 4.95 shipping.
I can hear you thinking, “What the hell?” Each of these $ 1 Native American coins will only buy $ 1 worth of things, not $ 1.38. The US Mint used to sell circulation coins at face value plus shipping, but some people used them to make big bucks.
People played their credit card cashback rewards by buying dollar coins and circulating coins worth millions of dollars and then tossing them off at the bank. This forced the mint to mint more coins than necessary just to keep them unused in the Treasury’s vaults.
DID YOU KNOW ALREADY?
The Treasury Department has over 1.1 BILLION $ 1 coins in stock, in part due to the systems people played with their credit card rewards programs. This is despite the fact that no 1 dollar coins have been minted for circulation since 2011.
Why is US Mint Silver more expensive?
The cost of minting a government-issued silver coin is more than just the metal content. The price is higher due to labor and manufacturing costs as the law requires U.S. coins to be made to exact specifications.
Investors will also pay more for US mint silver coins as they are backed by the full trust and creditworthiness of the US government. This means that they are in greater demand than more general forms of silver. Because of the combination of all of these factors, there is a premium associated with US silver coins.
Is the US coin making a profit?
Yes, the mint has its own commercial activities and makes a profit. These proceeds go directly to the US Treasury Department.
In other respects, the Treasury also makes a profit on the mint because of the seigniorage. Seigniorage is the profit made by minting coins and printing money at a price below the face value of the currency produced.
Will there be quarters 2021-W?
No, the mint has no plans to issue quarters with the mintmark “W” of the West Point Mint in 2021. The last time this happened was in the 2019-W quarter, which immediately caused a sensation among coin collectors.
2019 America The Beautiful Quarter with mintmark W.
Find sold out U.S. mint products at retailers and coin stores
If the US Mint has leftover stocks from a release from the previous year, they will continue to list them on their website until they are sold out. Once an item sells out, the only way you can get one is to buy it from someone who owns it.
Past US Mint coins can be found in a variety of locations: online marketplaces and classified ads, auction websites, local coin shops, and online coin companies. The safest options are coin stores and large online bar and coin companies.
Unlike some anonymous internet sellers, coin dealers and precious metals companies take care to vet and authenticate every item they sell to protect buyers from counterfeiting. Your goal is to build relationships with buyers and turn them into repeat customers. Most coin shops and precious metals dealers should be listed with the Better Business Bureau. Check their reviews on BBB.org.
Whether you are buying direct from the US coin or your local coin store or precious metals store, buying US currency can be a fulfilling and patriotic experience.
For more information on government mints and links to Gainesville Coins coin products:
Major Coin Mints: Overview and their precious metal products
Stolen gold from the Royal Canadian Mint?
Shop for US Mint Silver
Buy US Mint Gold
Buy silver from World Mints
Buy gold from World Mints