As small investors fret about the lack of action addressing America’s ballooning debt, demand for gold coins in the US has soared since the presidential election.
The US Mint’s sales of American Eagles, one of the most popular gold coins, leapt 131 per cent in November, hitting their highest level in more than two years. The Royal Canadian Mint also had its strongest month of sales this year.
Terry Hanlon, president of metals at Dillon Gage, one of the largest bullion dealers in the country, said sales had risen sharply “within a day or two” of the election. “You’ve got a lot of people who are very worried about the economy. With the election they saw that nothing was going to change,” he said.