Gold and silver coin sales remain buoyant
Duncan Richardson, News Editor
25 Jun 2014, 12:07 p.m.
According to the Royal Mint the sale of gold and silver coins remains extremely strong. In the first quarter of 2014 gold coin sales at the Mint increased by 13%, whilst silver sales rose by a staggering 43%.
The Mint also confirmed gold and silver coin sales remain strong in the traditional markets of North America and Germany.
Mint spokesman, Shane Bissett, believes sales remain strong in the U.S because Americans are able to hold gold and silver coins within their retirement account, whilst in the UK only investment grade gold bars are allowed.
Gold and silver still remains an important part of the German culture as many Germans have family who experienced the devastating hyperinflation in the early 1920’s. Between September 1922 and November 1923 the price of a loaf of bread increased from 163 marks to 200,000,000,000 marks. Traditionally investors buy gold and silver as a hedge against inflation and protection from economic and political instability.
Coin sales also remained strong in the UK as many customers prefer to buy Royal Mint Britannia and Sovereign coins due to their capital gains tax exemption.