A week of sharp swings in precious metal prices continues to drive Canada’s numismatic community, with collectors and dealers responding to changing values in both gold and silver coins.
Over the past week, gold reached a new record before settling lower, while silver saw a big dip and modest rebound. Both metals remain significantly elevated from earlier this year, prompting collectors to revisit their strategies around acquisition, trading, and investment.
On April 2, gold peaked at nearly $4,499 per ounce in Canadian funds—an all-time high driven by global economic anxiety and renewed trade tensions between major economies. By April 4, it had fallen to about $4,321, then dipped further to $4,250 by April 7. As of April 9, it had rebounded slightly to hold steady around the $4,250 mark.
Silver, however, took a downward trend. It opened the month at around $48.22 per ounce before dropping to $42.10 by April 4. By April 8, it remained relatively flat, hovering around $42.48 per ounce.
On April 9, 2024, the price of gold in Canadian dollars was approximately $3,193.38 per troy ounce, while silver was valued at about $38.22 per troy ounce.
These fluctuations have had immediate ripple effects in the Canadian numismatic scene. Dealers across the country report increased interest in gold and silver coinage, particularly bullion coins and historic issues with high metal content. Collectors are becoming more attentive to metal values, especially those holding gold sovereigns, Maple Leafs, or silver dollars. There’s a real awareness that even common-date coins can carry added value when precious metals are this strong.
With the Canadian dollar remaining relatively stable and domestic interest in bullion strong, many in the community expect continued demand for gold and silver issues, particularly as international trade tensions persist. Dealers anticipate these trends will drive strong bourse activity and encourage renewed engagement from both seasoned and new collectors.