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Friday, 10th July 2009 (2952 views)

Collectors are continuing to snap up valuable gold coins despite the recession, according to experts.

Tom Eden of Morton & Eden, an auctioneer based in London, told the Wall Street Journal that coin collectors seem to be adopting an attitude where they ask: "With little return on investments, what's wrong with putting money into your hobby?"

William Mackay of coin trader Spink added: "We have a bedrock of collectors with steady incomes."

One example of the continuing popularity of gold coin collecting amid the economic crisis is a sale held by Spink earlier this year.

Most of the coins on offer were sold, with one gold coin featuring a depiction of Roman emperor Tiberius selling for £12,750.

Meanwhile, another sale at Morton & Eden last month saw a collection of 400-year-old coins found by accident by builders in Oxfordshire in 1980 go for £76,360 - more than £25,000 over the estimate - after the grandson of the finder came forward with the hoard decades later.

The UK Royal Mint's Commemorative Coin business saw sales surge by almost 30 per cent in the last financial year, it was revealed last month.

 

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