First, Brexit is actually a combined term for “British Exit” or the recent decision of Britain to severe ties from the European Union at the June 2016 referendum. The result is a shifting of much political and economical change for both Britain and other European Nations. However, Britain currently remains a member of the European Union as an actual date of the separation still has yet to be set. The recent rush of the sale of the Brexit gold coins is among the many things that have been affected by this.
What all Brexit gold coins have in common is that they all display a design of the nation of Britain in some sort of highlight from the color and design of the British flag to a simple shadowy lining of the nation. In U.S. dollars, the cheapest one is priced at just over $40 while the most expensive can range at over $400.00.
From what Joshua Saul, CEO of Pure Gold company has reported, since Brexit, gold sales have skyrocketed to as much as 50 percent compared to only up to 10 percent until very recently. Royal Mint, which is government runned, has also seen an increase in sales of their gold bars up to a seven-fold. On June 25-26, 2016 alone, Buillionvault.com saw seven times its average compared to its sales throughout an entire year.
Panic over the U.K. financial system has helped to speed up the sales and it does not look as if there is any slow-down in sight. Dealers have stated that they have seen similar spikes in gold purchases with the Britons during other economic crises such as that of 2008. However, during those times, the interest in purchasing gold very quickly lost popularity. The dealers are now predicting that this time could be markedly difference due to the fact that gold has played a significant part in trade for centuries and during this time, half of the buyers are storing their gold and silver coins in bank vaults.
It also helps that other countries, such as Germany, play a role in maintaining their connection to gold as a valuable asset. It is said that in 2015 alone, they alone spent an equivalent of over $4 billion on gold and silver coins and bouillons.