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Monday, 13th July 2009 (1378 views)

Sales of gold coins to investors are surging in Malaysia, it has emerged.

Speaking to the Star, Michael Beh Soo Heng, managing director and head of the global markets and investment management division at United Overseas Bank, said his establishment had seen gold coin sales soar by 37.9 per cent in the first six months of 2009 compared with the same period last year.

He commented: "Interest in gold has been pretty good, especially for gold coins in the past two to three years.

"Investors buy coins and pendants as they are smaller in value and can be collected over time."

The bank mainly gets its gold coins from Canada, Switzerland and Australia, with particularly popular coins including the Australian gold Kangaroo Nugget and the Canadian gold Maple Leaf.

Manufactured by the Perth Mint, the gold Kangaroo Nugget coin was first launched in 1987.

The Royal Canadian Mint is responsible for producing the gold Maple Leaf coin and also created the world's first 100 kg 99.999 per cent pure gold bullion coin two years ago.

 

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