Greek Sales of Gold Coins Hit Record High
Reports from Greece indicate that there has been a flurry of investors in Greece buying gold coins as a hedge against the current economic and political uncertainty in the country and in the rest of the world.
Every day, The Bank of Greece has announced, they have been selling over 700 gold bullion coins. The most popular of which appears to be the British Sovereign. Greek investors are panic buying as the $1 trillion aid package introduced by the European Union may not achieve what it set out to do and Greece could fall into further debt. The best option, as Greek investors see it is to buy gold as a safe haven for their assets.
Gold investments have soared in recent months and investors appear to be losing confidence in paper currencies and other investments such as stocks and shares. Greek buyers are feeling vulnerable. Other mints have also reported an increase in sales of gold coins and gold bullion bars including the US Mint and the Royal Mint in the UK.
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