NEW YORK (Reuters)
U. S. gold coins sales soar on economic anxiety
U.S. gold coin sales surged this week as the anxiety over a euro-zone debt crisis spilled over into the United States and as Thursday's sudden Wall Street collapse shook investors.
The U.S. Mint sold gold coins this week at twice its normal pace, and a leading retailer said Thursday was a record day.
Physical gold products such as coins and bars are traditionally a safe haven for anxious investors in times of economic and geopolitical crises. On Friday, U.S. stocks turned negative for the year on fears of another credit crisis.
Gold coin and bar dealers also said investors are turning to gold coins to protect their nest eggs from financial market turmoil.
"Yesterday was our biggest day of the year in terms of investors buying gold," said David Beahm, vice president of marketing at top U.S. retail gold coins dealer Blanchard & Co. "There is no question that the meltdown in the paper assets yesterday was a huge case for diversification."
U. S. gold coins sales soar on economic anxiety - GOLD NEWS | Mineweb
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