Investors have been demanding more gold, and particularly silver since the beginning of 2021. While surging premiums are never music to the ears of bullion buyers, the dynamics of the market are clear. Another dealer told me that some coin issuance had premiums, the price paid above the market ‘spot’ price for metals, that had risen 2-3 times in some cases. One conversation I had with a bullion dealer was that one of their main global wholesalers was out of 99% of silver inventory and premiums were rising fast. The spike in demand not only for coins with the Queen imprinted on them but also for many other types of gold and silver, has not gone unnoticed. Being the first issuance with that likeness, many market experts predict a continued surge in collector demand for coins with royal likeness regardless of who is on the coin. The Royal Mint, Perth Mint, and the Royal Canadian mint have said they will stop producing coins with the Queen’s likeness and replace them with King Charles III’s likeness. Popular websites have been besieged by high traffic, and dealers have been scouring all known sources of gold and silver for these popular coins. In fact, they kept buying more and more.Īccording to in Australia, “Collectors are scrambling to get their hands on coins with Queen Elizabeth’s face as prices skyrocket after her death.” Demand for coins with the Queen’s likeness reached ‘insane’ levels at many dealers, who are now widely reporting strict supplies or pre-orders for new coins. The interesting fact about the bullion markets is that investors never really stopped buying physical gold and silver after the pandemic restrictions were lifted. And we have seen gold and silver inventories on the American COMEX industrial exchange shrinking dating back to the “silversqueeze” movement by American coin investors on three days in January and February of 2021. The gold and silver bullion markets have already been dealing with tighter supplies. And that is because so many modern coin designs have had the queen on them! Little did we all know however, that the Queen’s passing would prompt a flurry of buying gold and silver coins with her likeness in the anticipation of those being the very last issuance of coins with her likeness on the market.Ĭanadian Maple Leaf (APMEX) A Popular Figure Do you remember where you were when the Queen died? Much like recalling where we were when JFK was shot or MLK passed away, the death of the Queen has been a seminal event for many precious metals investors.

Silver maple leaf