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Tuesday, 31st March 2009 (711 views)

Production of gold coins is being increased around the world in order to cope with growing demand for the precious metal during the recession, it has been suggested.

According to Reuters, mints in both Russia and the US have seen a large jump in the purchase of gold coins, with sales of American Eagle pieces jumping 400 per cent in the US during 2008.

"The demand for gold and silver has been unprecedented," spokeswoman for the United States Mint Carla Coolman told the news source.

And her statement was echoed by marketing director for the Austrian Mint Kerry Tattersall, who explained that there is "no sign" of gold purchase levels slowing, adding: "At present production is struggling to keep up with demand."

In related news, a jar of gold sovereigns discovered in North Yorkshire 35 years ago is expected to sell for around £6,000 when they go under the hammer next month.

 

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