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coinfodder's Blog

24 Mar 2020

Should I Collect or Sell Bullion during the period of COVID-19?

Coins | coinfodder

With the lowering cost of bullion lately because of COVID-19, many people are flocking to the US Mint and dealer to collect tons of bullion. As of 3/24/2020, the price of silver is$13.69, and the price of gold is$1,567.55. These are some lows for silver, and it is pretty low for gold. So, should I buy bullion during this time?
PRO- Low Cost
Just like the stock market, the rule with precious metals is to buy low and sell at a profit. Now would be a great time to invest in some ASE's or Gold Eagles. Also, collectors for circulation coins like Morgan or Peace dollars could benefit from the low price of silver right now.
CON- Uncertainty
When COVID-19 deaths seemed to level off in late February, the prices seem to stabilize and rise a little. But after the huge spike of fatalities from COVID, the prices plunged even further. Now would not be a good time to sell Franklin Mint Medals, as they are only worth the cost of the silver contained inside of them. Sellers may want to be cautious selling, as another death spike (743 dead in Italy today) could set silver and gold prices down even further.
WHATS THE CALL?
If you are not worried about the fluctuations in the market, by all means, buy some bullion. But if you are a seller, DON"T DO IT. If you've already made a serious move to sell to someone, you're going to lose quite a bit of money.

Comments

Whatever spike we see would probably go back down once the crisis is over.

Longstrider

Level 6

I would advise you to sit in your hands and do nothing for now. The spot prices may be low, but not much product to buy out there. What is available has a high over spot price. Just my opinion.

Mokie

Level 6

Kind of a macabre topic. I guess investors have figured in factors like human misery throughout history.

Mike

Level 7

That lis your call. I cant tell you what to do. The market is a mess usually that means metals go up. But is a marhet that does not make sence. Silver and gold should be sky high and there not. Zo its your call. Sorry

Golfer

Level 5

Good time to buy some silver or gold if you can afford them. Its not easy finding silver for sale at current prices is it ? I say buy a few ounces of silver. Good chance you could make a higher sale in a few months.

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