Does the US Mint Produce Gold Bars?

If you prefer to buy gold bars, you might be wondering if you can get them from an official source – the US Mint. Sadly, you cannot. 

The US Mint does not produce gold bars as part of its product set. The US Mint saves its energies for its circulating coins, bullion coins, and commemorative coinage.

Instead, you’ll have to find gold bars from other sources. So, let’s talk about where you can purchase gold bars.

Where to Purchase Gold Bars?

Private mints and refineries

The first and most obvious resource for buying gold bars is through private mints and/or refineries. The top names in this category include some of the most vaunted mints in the world, including PAMP Suisse, Valcambi, and Sunshine Minting.

Some of these providers have reputations that rival sovereign mints in terms of quality. In fact, some older versions of gold bars from one private mint – Johnson Matthey – can command values far in excess of the bars’ melt value.

Authorized dealers

A second place to look for gold bars is through an authorized dealer. These companies, or their subsidiaries, are able to source all manner of precious metals from both private and sovereign mints.

Because JM Bullion is part of the A-Mark Precious Metals family, we are able to act as a reputable source for high quality precious metals pieces, including gold bars. So, if you want to make it easy on yourself to find gold bars, JM Bullion is one resource that you can use.

Retailers

The third place to find gold bars is through retailers, like Costco.

Costco has leveraged its business model and devoted customer base into a situation where its gold bars fly off the shelves. At this point, it’s harder to find Costco gold bars than you’d think, sheerly due to the fact that Costco is having a hard time keeping them in stores.

Why Does the US Mint Not Produce Gold Bars?

As mentioned, the US Mint does not produce its gold bars. Presumably, the demands of producing its other products preclude any casting of bars.

However, what it does produce out of gold is a set of products. Some of them are gold bullion coins. Others are commemorative coin pieces. Some of them are merely currency pieces from earlier times in American history. Here are some of those options.

Gold Eagles

The Gold Eagle is one of two bullion coins produced by the US Mint. It is also the original bullion coin, with its first issue occurring in 1986.

Gold Eagles are one of the most popular gold coins for collectors and investors to buy. As a result, they are often priced at a significant premium over spot. Interestingly, however, much of that value is derived from the coin’s reputation, as it is minted at a relatively low 22-karat, or 91.67% gold, purity level.

Gold Buffalos

The Gold Buffalo is the other bullion coin that the US Mint issues each year. It came to be part of the offerings in 2006, 20 years after the debut of the Gold Eagle.

Perhaps as a response to the purer bullion coins produced by the Royal Canadian Mint, the Austrian Mint, and the Perth Mint, the Gold Buffalo is the purest gold coin that the US Mint offers. Its purity level is certified to be no less than .9999. In other words, 99.99% of each Gold Buffalo is pure gold.

Gold Commemoratives and Collectibles

A third type of gold piece that the US Mint produces is gold commemorative coins and collectibles. The Mint creates designs every year to honor various Americans or events in American history, and the coins are often issued as part of a multi-coin set.

Similarly, the US Mint also produces proof versions and uncirculated versions of most of its coinage every year. These coins are never meant to be traded or, for that matter, handled by humans, and are designed explicitly for investors and collectors.

Vintage and Rare Coins

Finally, it is technically true that the US Mint issues vintage and/or rare coins. More to the point, some coins that have been active currency in the past have become desirable for their rarity and/or historic significance.

For instance, any coins issued by the Mint during the 1700s are obviously collectors’ items, as they are contemporary pieces to our Founding Fathers and the early days of the nation. Other examples include the steel pennies which are, obviously, composed unusually of steel and are rare due to their single year (1943) of mintage.

Conclusion

Whether you want gold bars or official products from the US Mint, we’ve got you covered. Our customer support team is available at Monday through Friday,  8-6 CST by calling 800-276-6508.