Bitcoin. Silver and Gold Price, October Market Update

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Bitcoin. Silver and Gold Price, October Market Update
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Gold And Bitcoin Shoots Up As The Dollar Sinks

The U.S. Dollar Index (DXY) value retreated after the U.S. jobless claim came in at 362,000 last week against 351,000 a week before. Since Bitcoin has an inverse correlation effect with the U.S. dollar, Bitcoin spiked up to 47,337.40 USD. The Federal Reserve also hinted at tapering its asset purchasing program which will keep interest rates low.

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Another factor that is encouraging an increase in Bitcoin is the fear that once the U.S. debt ceiling is lifted, the Federal Reserves printing press will continue to flood the market with cheap dollars further worsening the effects on inflation and economic stability.

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As many worried investors continue to look into alternative stores of value to protect their wealth, Bitcoin and Gold continue to be a safe haven for many people and companies seeking to soften the economic blow of a deteriorating dollar as a hedge.

Gold Spot Prices Increase As PCE Inflation Continue On An Upward Trend

After a rollercoaster ride for the end of the week of September, Gold ending with a healthy increase starting in October after continued fears of the increased rate of inflation.

PCE inflation data showed an increase of 0.4% in September. However, consumer price pressures increased to 4.3%.

The chair of the Federal Reserve, Jerome Powell blames inflation increases on supply chain inefficiencies. Market experts believe it’s more than just supply chain issues, blaming the Fed’s lax monetary policies for the nation’s inflationary woes.

With the gold market back above $1,750 an ounce, many investors think we will have a bullish fourth quarter as the Fed continues to hint on more printing of the dollar.

Which Are The Best Gold Coins To Buy?

The gold coin market has a vast array of different choices that might seem a bit overwhelming. Whether it’s for your hobby collection or an investment, you will want to learn what gold coins are the best option.

Your best option can vary depending on your wants and needs. Certain characteristics may become more significant when selecting coins for your collection. Certain classifications can include: which mint the coin came from, which coin makes for a better investment vehicle, is the coin part of a limited production series, or its level of purity?

Since these questions are complex and it all depends on preference, we will take a look at some of the most purchased coins from mints around the world. Each country’s history directly affects the standards and designs they implement for coin production. The United States, Canada, Mexico, South Africa, Australia, and the United Kingdom are home to some of the most trusted mints in the world.

First off, you should consider the basics. Since gold coins are precious metals, their value is affected by factors such as rarity, grade, and year of mintage. Spot price and melt value also directly impact the coin’s price.

The following is a list of ten coins that are highly popular with coin collectors and investors alike. Remember, the term “best” is subjective, but this list can serve as a benchmark for your decision-making process.

Here are the Top 10 Gold Coins:

The following coins are listed in no particular order. These coins are COMEX and LBMA certified - perfect for your IRA portfolio.

  1. United States Mint: Gold American Buffalo Coin

The 1 oz Gold American Buffalo is a classic choice for any gold investor. This coin contains 0.9999 fine gold with a weight of 1 troy oz. The coin displays James Earle Fraser's design of a Native American man. The reverse features an image of Black Diamond, a bison from the Central Park Zoo in New York City.

  1. Royal Canadian Mint: Gold Maple Leaf Coin

First minted in 1979, the Canadian Gold Maple Leaf is one of the most widely sought coins today. The Gold Maple Leaf’s iconic design and a purity rating of 0.9999 fine gold make this Gold Canadian Coin a great investment choice.

The obverse shows a picture of her Majesty Queen Elizabeth II, and the reverse displays the classic Maple Leaf. This coin is considered legal tender in Canada and has a face value of 50 CAD.

  1. Australia’s Perth Mint: Gold Kangaroo

The Perth Mint is one of the most respected mints in the world. First created in 1986, this coin is popular amongst collectors who enjoy its purity and an annually-changing kangaroo design on the reverse. Kangaroo coins are minted in both Brilliant Uncirculated and Proof condition.

  1. United Kingdom’s Royal Mint: Gold Britannia

Since 2013, the British government has struck the Gold Britannia from 99.99% pure gold. The obverse showcases her Majesty Queen Elizabeth II, and the reverse presents Philip Nathan’s Lady Britannia standing guard with the seas in the distance.

  1. Austrian Mint: Gold Philharmonic Coin

The Austrian Mint has produced Gold Philharmonics since 1989. The Great Organ of Vienna’s Concert Hall appears on the obverse, while the reverse displays an array of orchestral instruments. In 2002, these highly sought-after Gold Philharmonics were among the first coins with a 100 Euro face value to be considered legal tender.

  1. United States Mint: American Eagle Gold Coin

Since its first release in 1987, the United States Eagle Coin has remained one of the most popular coins in the US. Containing 91.67% pure gold, the United States Gold Eagle coin has a face value of $50 USD.

  1. South Africa’s Rand Refinery: Gold Krugerrand Coin

The Gold Krugerrand Coin was first minted in 1967 and became a popular investment choice until the 1970s when South Africa was placed under economic sanctions. Because of these sanctions, the Gold Krugerrand Coin was prohibited from importation until 1991. Containing 1 troy ounce of .9167 fine gold, the Krugerrand remains a favorite bullion option for investors worldwide.

  1. Royal Australian Mint: Gold Kangaroo Coin

This beautifully minted coin offers a solid opportunity to add value to any portfolio. The classic Kangaroo design is crafted from .9999 fine gold and features a classic kangaroo image on the reverse. Artist Ian Rank-Broadley designed the obverse portrait of Her Majesty Queen Elizabeth II in 1998.

  1. British Royal Mint: Gold Queen’s Beast Coin

A beloved series that honors the merger of the royal bloodlines at Queen Elizabeth II’s coronation, the Queen’s Beasts series includes 10 different coin images of the “beasts” that lined up outside Westminster Abbey.  British Royal Mint manufactures this beautiful coin with .9999 fine gold, as well as silver and platinum.

  1. Mexican Mint: Libertad Gold Coin

The Mexican Mint, “La Casa de Moneda de México”, is one of the oldest operating mints in the world. The Libertad coins are produced from .999 fine gold. These coins are the only international gold coins minted without face value that is considered legal tender.

As you can see, there are many options you can choose from when investing in gold coins. Make sure to always consult a professional if you have any questions about a coin you are interested in. Feel free to contact Bullion Exchanges’ expert customer service team for assistance.

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Eric Gozenput founded Bullion Exchanges at the age of 27 and has been featured in places such as Fox Business News, Forbes, Reuters, Seeking Alpha, Value Walk. Eric maintains that precious metals are vital for investment portfolios and that investing in precious metals should be convenient, transparent, and secure. Before beginning his business in 2012, he began his career at Merrill Lynch as a Financial Advisor, then transitioned into working at a Hedge Fund as an International Trader for six years. Today, Bullion Exchanges has grown to become one of the largest precious metals dealers in the world that buys and sells physical precious metals and numismatic coins online and in-person at our location in the Diamond District of NYC.
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