Coin sales to hit record highs in 2016?

In a research report released by analysts at Barclays last week, it has been predicted that January will see a surge in demand for gold and silver coins as precious metal prices remain low and for this surge to continue long into the New Year.

2015 has seen record sales of silver and gold coins for many of the world’s largest mints, with many actually running out of their most popular bullion coins.

The US Mint announced this month it broke its annual sales record of silver coins on November 30 for the third consecutive year.

“Once again, global demand for the American Eagle Silver Bullion Coins drove sales to a record high, this year reaching 47,000,000, surpassing the 44,006,000 ounces sold in 2014 and the 42,675,000 ounces sold in 2013” the mint said in its press release.

As metal prices remain at a level as low as they have been for five years, analysts expect retail demand to hit even greater heights in 2016.

The World Gold Council has just released its end-of-year gold market commentary in which it noted that retail demand is strong globally.

“Global bar and coin demand is more than double its pre-crisis levels and the strength of bar and coin demand in Europe is now well established, having been non-existent prior to the financial crisis” the WGC said.

This all adds up to 2016 being another record-breaking year for coin sales. And that’s before you consider that April will see Her Majesty The Queen celebrate her 90th birthday – an event that will be hugely important to coin collectors.

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