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Friday, 1st May 2009 (699 views)

Over 60,000 Ultra High Relief Saint-Gaudens gold coins have been sold since the start of the year, new figures have revealed.

Fewer than 1,000 of the pieces, which has a face value of $20 (£13.50), were sold in the US last week, but this has brought the total figure to 60,366 for the year so far, Numismaster.com reports.

Investors have spent between $72 million and $80 million on the precious coins, the news source noted, promoting speculation that sales could rise to £100 million in the near future.

This would be possible through a "large increase in the price paid for each coin going forward or a stable price environment that prompts collectors to jump in and buy large numbers at reasonable prices", the website claimed.

In related news, coin expert David Albanese recently told Forbes that purchasing gold currency is an ideal alternative to buying shares in the present financial turmoil.

 

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