Fool's Gold? Walmart Is Selling Snoopy and Darth Vader Coins for Thousands of Dollars

Snoopy is undeniably an American pop icon. But does the image of Charlie Brown’s beloved daydreaming dog belong emblazoned on gold?

If your answer is an emphatic yes, head over to Walmart.com, where you’ll find a Snoopy flying ace gold round for sale. This is no mass-produced toy, and it doesn’t sell for (ahem) peanuts. The listing says only 50 of these limited-editions rounds are available, each contains 1 ounce of .9999 fine gold, and they’re priced in the neighborhood of (good grief) $2,600 apiece.

Snoopy has plenty of company at Walmart’s online marketplace, which sells a variety of high-purity gold and silver coins featuring pop culture mainstays like E.T., Star Wars, Spider-Man, Coca-Cola, John Wick and Game of Thrones. These collectibles typically cost hundreds of dollars or more, and shoppers can put them in their virtual carts for purchase alongside pet food, toilet paper and actual Coca-Cola.

Investors are divided on whether it’s ever wise to buy gold or other precious metals, period. So the prospect of buying gold or silver with a cartoon character on it may seem like a particularly silly gimmick. As the price of gold remains near its all-time high, Money investigated if pop culture-themed precious metal coins could somehow be a worthwhile investment.

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Gold and silver coins sold through Walmart

Precious metals investors often purchase physical gold and silver in sterile-looking bars, ingots, rounds and coins. (Coins and rounds look basically the same, but only coins are minted by sovereign governments, have a face value and can be used as actual currency.) They're typically unimaginative and usually carry the refiner's name, the bullion's purity or a serial number.

Costco sells such silver and gold bars and coins, as do many other retailers including Amazon and Walmart. Or rather, a wide range of precious metal products are sold via third-party vendors through Walmart's online marketplace. It's here that shoppers can buy American Eagle and American Buffalo coins officially produced by the U.S. Mint, as well as coins, rounds and bars offered by various metal sellers featuring Wonder Woman, Shrek, Darth Vader and other pop culture staples. (There's no sign of a gold collectible featuring the Austin Powers' character Goldmember, which seems like a missed opportunity.)

The options range in price from a $4.95 gold-plated "Trump 2024 Take America Back!" coin to a whopping $50,134 for a set of 20 1-ounce American Gold Eagle coins. These prices — like those for any precious metals products — are subject to change based on the current spot price of gold at the time of purchase.

Walmart says there's no reason to worry about the legitimacy of these precious metals coins and collectibles. According to a company spokesperson, Walmart's marketplace program is invitation-only, and participating companies are subject to a rigorous vetting process wherein each prospective seller is "carefully screened because the degree of authenticity is important to customers."

These collectibles first appeared on Walmart's website in 2018, and per the company's policy, "coins listed at or above $1,000 must be graded by ... Numismatic Grading Corporation, Paper Money Guarantee, or Professional Coin Grading Service, or they will not be allowed."

Among the sellers participating in Walmart's marketplace are institutions responsible for the minting of those nation's official coins, including the Department of Treasury's U.S. Mint, the Royal Canadian Mint, the British Royal Mint, the South African Mint and the Austrian Mint. For collectible coins and rounds, the marketplace also features reputable gold dealers such as American Precious Metals Exchange.

Younger investors in particular, who have demonstrated higher interest in alternative investments like crypto and collectibles, may be curious about buying precious metals, and products featuring their favorite pop culture characters may be especially intriguing. But proceeding with caution and a heaping degree of skepticism is best.

Buyer beware of gold sellers

When it comes to precious metals, there's no shortage of companies with unscrupulous business practices, fraudulent advertisements or extraordinarily high spreads (i.e., markups). It's important for prospective buyers to understand these risks, learn about the best online gold dealers and avoid any pitfalls with suspect companies.

It's also important for buyers to be realistic in their investment expectations. While collectible coins, rounds and bars may be catching the eyes of fanatics, determining their intrinsic value can be tricky. Some carry purities as high as 99.99% and are part of extremely rare collections.

But rarity alone doesn't dictate increased worth beyond the collectible's melt value, or the price equivalent of the amount of metal that can be extracted.

"I do believe that they will carry some additional premium value for the 'pop culture' aspect of the coin and the generations being targeted," says Ryan Derda, Vice President of American Independence Gold.

However, buying physical gold — and especially collectible gold items — can present investors with lower liquidity when it comes time to sell. "There's a saying in the precious metals industry," says Derda. "The only thing more rare than a rare coin is a rare coin buyer."

Another factor to consider is the transparency of some of the companies producing these collector items. A Spider-Man silver coin being sold on Walmart's marketplace is produced by New Zealand Mint, a name that suggests it is a legitimate national mint.

However, the Reserve Bank of New Zealand doesn't operate its own national mint, and instead outsources its precious metal needs to the U.K.'s Royal Mint and Canada's Royal Canadian Mint.

New Zealand Mint is a private company that was founded in 1967 and has no affiliation with the government of New Zealand.

"I have seen this by other precious metals companies," said Derda. "And I do find it deceptive, as this practice is simply an attempt to increase the premium value by giving the appearance of being from an actual mint and being of 'limited availability.'"

(New Zealand Mint has not responded to Money's requests for comment.)

Are gold coins good long-term investments?

Long term, there's also reason to be skeptical about the value of these pop culture-themed coins. According to Derda, "I don't believe they would be found acceptable in a gold IRA." Self-directed gold IRAs carry strict regulations established by the IRS that dictate the types of precious metals and the minimum purity requirements for what can be held in those accounts.

Instead, Derda likens these collectibles to conversation pieces. "I see these products as a novelty item with a very targeted market and they will only carry a slightly higher premium value due to the target market."

At the time of writing, the spot price of gold was $2,360.80 per ounce. The 1-ounce gold Snoopy round available on Walmart's marketplace was listed for $2,591.25, suggesting a 9.76% spread charged for those products above the melt value of one ounce of gold.

For some products, the markup is much bigger. For example, 1 oz. UFC-themed silver collectibles on New Zealand Mint's website are retailing for $99. The spot price of silver is $30.97 per ounce, meaning the company is charging a spread of 230% above the melt value.

That almost makes the $2,600 Snoopy collectible seem like a good deal.

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