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Tuesday, 25th May 2010 (262 views)
Greek buyers have been queuing up to purchase gold coins as fears over the country's economic future persist.
According to the Times, the Bank of Greece is selling at least 700 gold coins every day as a result of concerns about whether the nation might default on its debts.
British gold sovereigns in particular are proving popular among buyers looking for a physical hedge against economic uncertainty.
It is estimated that over one billion gold sovereigns have been minted since the first was made in 1489 for Henry VII.
The Royal Mint still produces gold sovereigns at its facility in Llantrisant, south Wales.
Greek daily paper Kathimerini said: "The public's renewed interest in sovereigns as an asset started with the collapse of Lehman Brothers."
Gold investments in general have surged in popularity since the credit crunch began.
A number of mints around the world - including the Royal Mint in the UK, the US Mint and the Royal Canadian Mint - reported significant increases in sales of gold coins and bars during the downturn.
Source:http://www.gold.org/news/2010/05/25/story/14813/gold_coins_soar_in_popularity_in_greece/
