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Tuesday, 13th January 2009 (1489 views)

A coin dealer in the US has claimed that he has witnessed a sharp increase in people purchasing gold as a result of the economic recession.

David Bernhardt of Engle's Coin Shop in Indianapolis told the Indy Star that more customers have been buying $950 (£651) US Mint gold bullion coins in a bid to diversify their investments.

According to Mr Bernhardt, many people in Indiana are putting their money into gold rather than stocks and bonds.

Data from the US Mint indicated that almost 1.2 million gold coins were sold last year, nearly triple the number purchased in 2007.

The mint reported last autumn that supplies of many gold coins were depleted as a result of an upsurge in demand.

In other news, the Royal Canadian Mint has launched its first gold coin designs for 2009, including a coin commemorating the opening of Canada's first commercial coal mine in Port Morien, Cape Breton in 1720 and the tenth anniversary of Nunavut, the country’s newest territory.

 

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