Mints Are Working Around the Clock to Meet Demand for Gold Coins

January 27th, 2014 by


Government gold mints from Perth to Vienna are running three shifts in an attempt to keep up with record gold coin demand. Britain’s Royal Mint ran out of 2014 gold Sovereigns in just two days earlier this month, due to unexpected demand. It took a week to replenish stocks enough to resume sales. Gold coin sales at the U.S. Mint are already at their highest since the April price crash, at 129,000 ounces.

Gold coin sales by Australia’s Perth Mint are up 20% from this time last year, with the mint running three shifts to keep up with demand. Vienna’s Austrian Mint recently followed suit, saying that even running around the clock, they could not meet demand.

Bloomberg reports that gold prices have rebounded 7% since the June 2013 lows, fueled in part by political unrest across the world and collapsing stock markets in emerging nations.

by Steven Cochran