Gold Coin Sales Plummet In Europe As Demand Weakens

gold coins

The world’s largest marketer of gold coins, Vienna’s Muenze Oesterreich AG, plans to slash production by 32% next year as it predicts Europe’s financial woes will lessen demand for metals.

Commodity Online: “There’s no more upward surge in gold price to titillate buyers,” said Mr. Tattersall, who retires this year after more than two decades with the mint. “A lot of people feel more relaxed about the economic crisis.” For the whole of 2010, Tattersall said he expects the mint’s sales to fall to 2006 levels, without providing figures. Austria’s mint says it supplies about a fifth of the global gold-coin market and makes about half of all gold coins sold in Europe.”

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