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Carson City gold coins are among the most alluring and intriguing items in American numismatics. They boast an exciting combination of extreme rarity and fascinating history.

The U.S. dollar weakened Monday amidst new uncertainty surrounding President Trump’s tariff policies. The dollar index fell 0.4% against a basket of peers, making bullion cheaper for holders of other currencies. In response, safe haven demand drove gold up 2%.

Editor's Note: This article was originally published to our list on February 18, 2021, but the message remains just as essential today. As this bull market heats up, bad actors will come out of the woodwork, so buyer beware...

Despite ending last week on a high note, like gold, silver is pulling back after a narrowly traded holiday weekend. Silver dropped 5.2% in April after advancing 9.9% in March... It gained 21% in 2024.

For nearly thirty years now, I have been speaking at conferences, on podcasts, and in interviews about the merits of gold ownership. During that time, one question has been asked of me every single time…

Since 2007, the annual In Gold We Trust report has been regarded as the standard work for every interested gold investor. But the In Gold We Trust report is much more. 

Save the coins!

Like gold, silver is in recovery mode after the most recent pullback. Silver dropped 5.2% in April after advancing 9.9% in March... It gained 21% in 2024.

If spot price were the only indication, silver is underperforming compared to gold. In a bull market, silver tends to tag behind gold, slowly rising until it explosively overtakes gold. The silver market is much smaller, and therefore more volatile, but don't underestimate gold's sibling metal.

Although gold's exciting price action so far in 2025 may be dominating headlines, like we've been saying for quite some time now, based on key market fundamentals, silver is the real story.

The Gold-Silver Ratio has entered uncharted territory these past few years...

Since 2018, the GSR has been historically high, and since peaking at 125 in 2020, it continued to hold around the 80-85 level for several years.  And now it's even higher, at current levels over 100-to-1, as gold has hit 25 brand new all-time highs so far this year, while silver is climbing at a significantly slower pace.

And this strange trend is set to continue as long as the gold bull market is buoyed by central bank gold buying, and not retail investors entering the market. This is one of the main reasons why gold is at all time highs, yet silver is lagging far behind. Central banks have been adding to their gold reserves at historic rates and Asian investors have started to buy as well, while the silver market is mainly being driven by industrial demand and much softer retail demand.

 At these GSR levels, the market is on fire, signaling the lower end for both gold and silver prices in this stage of a precious metals bull market. There’s a lot of exciting price action we can expect over the next few years. At this point, gold at $4,000 an ounce is well within reach (the most recent high last week exceeded $3,500, though it has since pulled back), and we could see silver much closer to its’ previous high of $50 an ounce, or beyond.

Compared to historic premiums over the melt value, today's premiums on MS66 Saint-Gaudens simply don't make sense...

But there's a way that you can take advantage of this mismatch in the market.

As many of our clients are aware, the $20 Saint-Gaudens Double Eagle is one of our very favorite pre-1933 U.S. gold coins. These big, beautiful, and immensely popular pieces are one of the best ways to own numismatic gold. Few other coins can boast such an intriguing back story, gorgeous design, and attractive price point.