When Schwartz started collecting, gold was worth about $800 per ounce. Two years ago, when he bought the Australian eagle and ...

The same tariff fears have also pushed gold prices considerably higher in New York than London this year, with a rush to fly bullion across the Atlantic to take advantage of the difference.

Storage costs in New York could also encourage some traders to move their gold back to the dominant physical market in London, or to trading hubs in Asia if premiums there are attractive enough.