Gold Coins "Not Available" in Europe? - Untrue

Gold Coins "Not Available" in Europe? - Untrue

- Armstrong and blogosphere on shortage of gold coins in Europe
- No shortage of gold whatsoever at retail level in Europe
- Gold demand in most of Europe quite mixed despite significant risks
- Germany, Switzerland, Greece seeing strong demand but no shortages
- Alarmist warning that governments to make gold “illegal”
- Poor data and research or disinformation?

A rumour has been making its way around the blogosphere suggesting that gold coins are not available for purchase from retail outlets across Europe. As one of Europe's larger gold brokerage and storage providers, GoldCore can can confirm that this information is misleading and incorrect.

Martin Armstrong, who is well resourced and whose historical perspectives we sometimes find interesting, wrote about this supposed development recently and it has been taken up by other blogs.

Armstrong wrote:

"There is a very curious new development with respect to gold. In many European countries, people can no longer buy retail gold coins for bullion. Shops will buy but no one is selling. Banks that previously offered gold to the public have shut down in Spain. If someone leaves Spain wearing a lot of jewelry, authorities will pull them aside to weigh whatever jewelry they may have."

The piece is entitled "Is gold becoming illegal?" and strikes us as being rather alarmist. We have seen no shortage of gold on a retail level whatsoever. Armstrong suggests that governments are “shutting down retail sales” and may confiscate gold and make it “illegal to even own.”

Given the very small size of the entire physical gold market and the even smaller size of the entire physical silver market, we believe shortages will likely develop when the next global financial crisis erupts.
This is a question of when rather than if as it is only a matter of time before this happens. Be assured - when shortages of gold coins and bars in Europe and internationally materialise you will hear about it.

ENDS

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