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Thursday, 23rd July 2009 (965 views)

Collectors are still snapping up gold coins in spite of the overall market suffering from the annual summer slump, new figures have indicated.

According to the US Mint, sales of its Ultra High Relief $20 gold coins passed the 70,000 mark in the seven days to July 22nd.

David Harper of Numismatic News noted: "These numbers do not yet reflect the lifting of the order limit from one set to ten."

Transactions involving the one-ounce gold American Eagle coins also reached a total of 56,000 - representing an increase of 26,500 compared with last week, the latest figures show.

About 730,500 gold 2009 American Eagles have been sold up to July 22nd.

The US Mint says that American Eagles have become a "leading" bullion coin investment product since their initial introduction to the market in 1986 and that they provide "a convenient and cost-effective way" to insert physical gold into portfolios.

 

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