Krugerrand sales soar following gold price slump

Tags: Gold Krugerrands



Savers, investors and coin collectors have been buying Krugerrands in record numbers since the recent gold price slump of mid April 2013

The Scoin Shop, the UK and the world’s only gold coin retail chain, has reported a 468 percent increase in Krugerrand sales, above average weekly sales of the bullion coins, directly linked to the fall in international gold prices.

Alan Demby, an international bullion expert since 1978, founder of the Scoin Shop and chairman of the South African Gold Coin Exchange, commented, “Since the gold price has dropped we have seen an enormous interest in buying gold at what is seen as a competitive rate – many of our existing clients in both the UK and South Africa see it as a tremendous buying opportunity they would otherwise not have.

“Having closely monitored gold’s performance over 40 years I can safely say that the media and gold skeptics have got it wrong on this occasion: it is not bad news. Gold is smart money at a time when currencies have never been so volatile.  We only have to look at the Eurozone or America’s $16 trillion dollar debt to know that gold is the one tangible currency which can be used against depleted cash reserves which are liable to devalue further."

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