At the beginning of the COVID-19 pandemic, there began a massive run on gold and silver bullion. Nearly every major supplier ran out of inventory of common products like the American Silver Eagle, UK Gold Sovereigns, Canadian Gold Maple Leafs and South African Krugerrands. Even silver coins from Oman, Mexico and China were quickly sold out.

As countries closed down their economies, most commodity prices dropped significantly, creating great buying opportunities. Although the prices have rebounded, the demand remains high as countries go further into debt to prop up their economies. This will lead eventually to reduction in valuation of most paper currencies. The price of gold, silver and other precious metals in those countries will likely increase. It might take some time as the price of silver and gold might be affected by low industrial demand until the economy comes back.

American Silver Eagle, Source: Banknote World

Gold bars, silver bars, gold coins, silver coins, oz, rounds? Where does one start and what makes sense to buy? The old adage remains true. Always buy quality. In good times and bad, there will always be demand for quality. The highest quality coins are usually backed by strong countries like the United States, Canada, China, the UAE and OMAN. Their coins have intricate designs making them difficult to counterfeit and they are immediately recognized as genuine. In addition to their inherent value, many of these coins have additional value because of their images, designs, beauty and rareness. Silver and gold are a nice addition to a portfolio of investments and currency collection.

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