Lacking Coins
13.04.2014Mints around the world have witnessed a growing demand for gold coins. For example, the Austrian Mint Muenze Oesterreich AG began operating around the clock and hired extra staff. Besides, demand for the products of the Australian Mint in Perth rose 20% in January last year compared to January 2012. Interest in gold coins in the US was predicted to become record high in January 2014 since April 2013, when precious metal prices started falling.
In early January this year, the Royal Mint said that all gold sovereigns (the 1-pound investment coin) had been sold out, so customers had to wait for the new issue for 6 days. Experts attribute the growing coin demand to the 28% fall in gold prices in 2013, cheapening precious metal coins and making them more affordable for consumers. On the other hand, this increase in buying activity led to a partial rise in gold bullion prices.
Source: Bloomberg
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