THE 2025 GOLD MARKET

 

Inside New York's gold rush, where buyers are snapping up bullion, bars, and actual Trump coins.

"Over the last six months, we're doing four times the volume that we did before that," Kahan said. "We have north of $1 million in transaction volume per day."

The 57-year-old Kahan owns Bullion Trading LLC, a gold and silver dealer in the heart of New York City's Diamond District. Despite the neighborhood's name, there's more to the area than just diamonds. The one block stretch in Midtown Manhattan is also an international hub for gold and other precious metals.

With gold prices smashing record after record in 2025, Business Insider paid a visit to the district to do some window shopping (emphasis on window).

The New York gold rush
Bullion Trading LLC is located in the basement of a building on 47th Street. It's quiet and insulated from the noise of the street above, where enthusiastic salespeople wear big signs advertising gold and jewelry and aggressively solicit passersby.

Customers are hearing about gold on the news and calling up the store to learn more and buy, Kahan told BI.

But people aren't just buying — they're also taking advantage of sky-high prices by selling their holdings.

"We're seeing significant activity, particularly in our scrap gold buying business, which has experienced enormous growth as gold prices hover near all-time highs. Many individuals are taking advantage of the strong market by selling their jewelry, coins, and other gold items to access liquidity or realize profits," Eric Gonzeput, the CEO of Bullion Exchanges, told BI over email.

People are also buying silver, which Kahan jokingly calls "the poor man's gold."

In addition to concerned investors rushing to diversify their portfolios, Trump's tariffs are also restraining the supply of gold bars. Pamp and Valcambi, two prominent Swiss precious metal refineries, have stopped shipping gold bars the the US due to tariffs, Kahan said.

Actual Trump coins
People also buy gold as a hobby, albeit an expensive one. Kahan carries Lunar New Year and Diwali-themed gold and silver coins, among other unique collector designs. These themed coins come at a premium to regular bullion.

There are some particularly eye-catching products in Bullion Trading LLC's display case: gold and silver coins with President Donald Trump's likeness on them. The Trump coins, especially the silver one, are one of Kahan's most popular products right now.

 

The silver coins aren't government-issued. "A private mint made it," Kahan said. "Somebody actually sold them to me a few months ago and we've actually been doing quite well with them. We sell several online every single day."

On the other hand, the gold coins are official government-issued American Eagle collector coins packaged in a decorated box showing Trump's image.

"Someone sold me those months before the election," Kahan said of the gold coins. "I'll tell you my calculation. The worst case was I was going to crack open the boxes and just sell them as American Eagles if Trump lost."

"The silver coin is actually engraved with his picture," Kahan added. "If nobody were to want it, we would have to melt them."

Luckily for Kahan and gold dealers everywhere, it doesn't look like demand for gold — and Trump-themed bullion — is going anywhere for the time being.

To read the complete article, see:
Inside New York's gold rush, where buyers are snapping up bullion, bars, and actual Trump coins (https://www.businessinsider.com/buy-gold-now-price-record-surge-ny-trump-coin-tariffs-2025-5)

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