Thursday, 19th February 2004 (4888 views)

Coin dealers are reporting soaring sales of gold coins, as both collectors and those seeking to profit from the precious metal snap up the trinkets.

Dealers claim the sudden increase in sales is a result of gold prices nearing a 20-year high.

Financial experts say gold prices have hovered near $400 an ounce since November, the Associated Press reports, pushed higher by political instability and uncertainty in the Middle East.

Max Hagen, a Cedar Rapids coin dealer for 40 years, claimed that the last year had been one of his busiest ever.

Mr Hagen says that he has been advising customers to buy the common one-ounce coins that are widely circulated, such as American Gold Eagles, Canadian Maple Leafs and South African Krugerrands.

 

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