Through the first 10 months of 2020, silver and gold are still leading the way, with the tech-heavy NASDAQ stock market index being the only other double-digit gainer on the board. In this regard, it’s a cautionary tale to recall the disputed Bush vs. Gore election of 2000, when it took five weeks to resolve the vote in Florida and thus the overall Presidential winner. The Dow and S&P 500 declined a modest 1.7% and 5.0%, respectively, then, but the high-flying NASDAQ fell 17%. At that time, gold rose about 3%. If this election is disputed for several weeks, that kind of stock market reaction could happen again.
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U.S. Mint Continues to Meet Skyrocketing Gold & Silver Eagle Demand
Despite the occasional work stoppages at the U.S. Mint, due to Covid-19 risk, the total sales volume in Troy ounces for Gold and Silver American Eagle coins has eclipsed last year’s totals by at least 500% for gold for the month of October and the year-to-date, and between 70% (YTD) and 200% for silver sales.
There’s a similar trend in the American Buffalo bullion coin sales.
This demand is part of the reason why gold and silver continue to lead the investment scorecard for 2020, and the newer investors who enter the bullion market, the more investors will graduate into the rare coin market within one or two years. There’s something magic about the “heft” of a heavy gold or silver coin, along with the beauty of their design. Even with the newer mintages, it’s like holding a piece of American history in your hands. This causes investors to investigate the noble history of American coins.
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Don’t let no one sell you gold unless you get a chance to take a good bite of it and make sure it ain’t fake. My granddad got took by a filthy Norseman