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Investors boost gold and silver coin sales

Mints in the US and Europe are reporting high levels of demand from investors buying gold and silver coins and bars.

Figures from the Austrian Mint showed that its sales of gold bullion were 57 per cent higher in 2015 than in 2014, and it is expecting another strong year in tandem with gold’s good performance in the first five months of the year.

The mint’s most popular bullion coin is the Gold Vienna Philharmonic, which was the world’s best-selling coin in 1992, 1995, 1996 and 2000. It looks like the strong performance of the mint in 2015 could see the coin reclaim that title.

The coin, which features images of instruments, was first introduced in 1989. It is available in one troy ounce, half troy ounce, quarter troy ounce and one tenth of an ounce weights.

The US Mint has reported similar impressive demand for its gold and silver coins so far this year.

Since January, investors have bought more than 406,500 troy ounces of gold coins, more than double the amount the US Mint sold in the first five months of 2015.

It comes as gold has been enjoying strong prices amid renewed concerns about the global economy and the international political environment. Investors are again heading to gold for its safe haven benefits.

The majority of the US gold coins sold – some 80 per cent – are the one troy ounce $50 American Eagle Coins.

Investors have also bought 40,000 half troy ounce $25 coins, 18,500 quarter troy ounce $10 coins and 42,000 $5 coins which weigh a tenth of a troy ounce, the mint said.

The US Mint also reported strong sales of its American Eagle silver bullion coins. In the year to May 23, it had sold 22,771,500 of the coins which have been available since January 11.

View The Gold Bullion Company's US Gold Coins for sale here.

Article Last Updated: Tuesday, May 31, 2016