Sales of gold coins for the month of September were more than double what they were for the month of August and more than triple for the same period last year, according to the usmint.gov in reports that indicate a sharp rise in retail gold demand.
58,000 ounces of gold coins were sold by the U.S. Mint last month compared to August’s totals of 25,000 and September 2013 totals of 13,000 ounces.
The sales spike is due to a combination of factors including a weakened euro and what many analysts consider to be bargain pricing for gold.
Many investors turn to physical gold as a haven during times of economic uncertainty and with the recent announcements of lower interest rates for Europe and comments by the Fed that there are no immediate plans to end Quantitative Easing has worried some. There is also the increasingly louder talk of a stock market correction that has left many feeling uneasy about their short-term financial future.
With 58,000 American Eagle Gold Coins sold during the month, September marks the biggest month for gold coin sales since January of this year.