23 August 2010
Gold Philharmonic Coin Supply Dries up in United Kingdom, points to shortages
Shortage of austrian Gold coins available for auction could point to shortages of bullion
A lack of Gold Philharmonic coins for auction over the last week could be pointing to a shortage of Gold Bullion product in the UK.
BullionSupermarket.com reported no Gold Philharmonics at all for auction in the UK last week. The 9999 Gold bullion coin, minted by Austria is particularly popular in Germany and the rest Europe, and a proportion UK philharmonic supplies may have been drawn off by the European Gold rush of 3 months ago when Eurozone soveriegn debt crisis came to the fore.
The fact that these coins are absent from auctions at the moment tells us that neither private bullion coin investors, nor the dealers active in the online auction market are selling right now, either through lack of supply or unwillingness to sell.
A significant variance in premiums on Gold Bullion products has grown up between UK and US markets lately, with US 1 Ounce Gold Bars trading at some 7% below UK Gold 1 ounce Bars