On June 23rd, the UK decided to leave the European Union. Even though there had been indicators that the country was growing restless about issues such as the refugee crisis in Europe, not many people really thought the country would vote to leave. Following the announcement of the referendum results, a series of economic repercussions hit the EU stock exchange, and their echo reverberated all over the world. Well, the Cook Islands chose to make the now infamous Brexit memorable through a sale of three collector coins. This program is under the supervision of Coin Invest Trust, a private company that is based in Lichtenstein.
The program is made up of .999 fine gold five dollar coin, .999 silver dollar and a .999 $20 dollar coin. All these have been embossed with a map that outlines the United Kingdom together with the flag and a frame of the continental Europe to symbolize the EU. The coins gained so much popularity with the public that by the fifth of august, the silver coin had been completely sold out. The $5 gold coin is said to be having a mintage limit of 10,000 pieces while the $25 coin has a mintage limit of 2, 016 pieces.
It is emerging that there is no distributor based in the US taking part in this sale. The owners of the coins will therefore have to look for their own secondary markets.
Why Brexit gold coin has become popular
The events that followed the Brexit vote shocked markets from Europe to the Far East and even in America and Oceania. It came as a reminder to many investors that paper money will always be an unreliable way to invest and save money. This is because when events that shake up the political landscape occur, the value of the currency is greatly affected. This inflation means that you will have a lot of money that cannot buy as much as it did before.
People that invest in gold do it because the precious metal does not seem to appreciate or depreciate depending on the political events. This is perhaps the main reason why investors in the UK and the EU in general have started stockpiling in gold and keeping it in safes inside their homes. It is estimated that the Brexit will not be completed until 2018, however, there are a lot of uncertainties about the implications that the move will have for the economic landscape of the country and the continent in general. Forecasts have been made showing that in the coming years, gold will really appreciate in value, which makes the buyers even more keen on securing a few more bars. The implications of this mass purchase remain to be seen.