Royal Mint 'Increasing Gold Coin Production'
Source: World Gold Council (5/7/09)
". . .the UK mint. . .used 75% more gold in the opening three months of 2009 than it did a year previously."
According to Bloomberg, the UK mint, which is based in Wales, used 75% more gold in the opening three months of 2009 than it did a year previously.
It produced 28,496 ounces of gold coins in the first quarter, compared to 16,317 ounces in the same period in 2008, while production last year also increased 30%.
Mark O'Byrne of Dublin-based brokerage Gold and Silver Investments told the news source that "very few people" are opting to sell the precious metal.
"People are worried about their savings, and banks and a lot of people realize it's a safe-haven asset," he stated.
In related news, physical gold was recently described by expert Larry Edelson as the "most important" investment people can make in the recession.