One of the side effects of the fiscal cliff fears has been the purchase of gold coins. Many news sources have reported that November sales of U.S. American Eagle gold coins have reached their largest sale point in the last 14 years. Buyers are purchasing these now as a result of President Obama’s reelection, as a result of the fiscal cliff fears and as a result of the sharp price movements that occurred in early and late November. Purchases are often made in person, or done through the web.
Bullion dealers have also noticed more high net worth individuals buying gold coins in volume and taking possession of them. As reflected on the U.S. Mint’s website, 131,000 ounces of American Eagles sold in November, which it triple the sales they had last November and the strongest showing since 1998. The silver coin sales for American Eagle doubled in November moving from 1.384 million to 3.135 million ounces.
Certainly, for buyers interested in coins for investment purposes, reading site reviews is a helpful way to decide where to purchase these items. ICCoin Reviews, International Coin Reviews and others can offer insights into their products and recommendations about the best investments to be making at the moment.
In addition to being a sound investment, coin sales serve as a fascinating barometer of the nation’s feelings about the economic situation and about where the government is headed.