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U.S. Mint Gold, Silver Coins Sales May Rise to Record This Year

June 6, 2013 in Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Precious Metals, Silver, Silver Coins, US Mint, World Coins

By Debarati Roy – Jun 5, 2013 (http://www.bloomberg.com)

Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint.

“The demand remains at an unprecedented level,” Peterson said today during an interview at the mint in West Point, New York. “People at the mint had to work overtime and sometimes over the weekends to meet the increase in demand.”

Demand surged at mints from Australia to the U.K. and the U.S. after gold futures in New York slumped 13 percent in two days through April 15. Prices tumbled 7.8 percent in April and dropped into a bear market as some investors lost faith in the metal as a store of value. The U.S. mint suspended sales of 10th-of-an-ounce coin in April after sales more than doubled from a year earlier.

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