Wednesday, April 24, 2013

UK Royal Mint sales growth 150% this month

Bloomberg Business Week reports that sales of gold coins by the UK Royal Mint are 3 times more than last year.  Or is it last month?  Or both?

Britain’s Royal Mint, established in the 13th century, sold more than three times more gold coins this month than a year earlier as prices declined. 
Sales are more than 150 percent higher than last month, according to Shane Bissett, director of bullion and commemorative coin at the Royal Mint. Gold is down 11 percent this month, heading for the biggest drop since September 2011.

The article is a little confusing because the intro states "three times more gold coins than a year earlier" and the next paragraph says "150 percent higher than last month."  Which is it? from last year or last month?  And, I assume this month means April, which is not over yet.  So, presumably sales growth could be even more at the end of the month.  And what if sales last year or last month were depressed.  Then the growth would be high but it would not be due to current high demand as implied in the article.   It would be helpful if articles like these gave more data.  Regardless, from quotes later in the article it is clear that the UK Royal Mint is experiencing high demand.  

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