The Brexit Vote Will Go Down In History As A Momentous Day For The UK
June 24, 2016, will always be remembered as the day Britain decided to leave the European Union and function as an independent state in Europe once again. Leaving the European Union is a remarkable event and the Royal Mint decided to honor that day by issuing gold and silver coin sets to commemorate this incredible act of economic independence. According to Philip Diehl, the president of the U.S. Money Reserve, the Royal Mint decided to issue a £20 gold coin, and a £5 gold coin, along with silver coins of the same denominations. Mr. Diehl said the Brexit gold coin set is 50 percent sold out, and he expects the price to increase substantially over the coming months because of the gold market.
The U.S. Money Reserve is one of the nation’s largest distributors of rare coins and commemorative coin sets. Diehl told an interviewer that the Brexit coin set is available through the U.S. Money Reserve, but the supply is limited, so collectors should act quickly if they want to purchase the set at what Diehl called a bargain basement price. The reason for Diehl’s enthusiasm stems from his days as director of the U.S. Mint. Diehl was instrumental in producing the 50-state quarter set. The 50-state quarter set was an immediate collector’s item. The price of the set was around $10 when the set first appeared in 1999. The U.S. Treasury Department has made more than $3 billion from the 50-state quarter program from seasoned collectors as well as new collectors. Diehl believes that the Brexit coin set will produce more income for the Royal Treasury because the initial price of the Brexit coin set is much higher.
The Brexit vote is making everyday Brits gold collectors overnight. British citizens are buying gold coins and gold bullion at an unprecedented pace. The gold market is stronger than it has ever been, and Diehl thinks the price of gold will continue to break records. Some financial experts think gold could hit $1,500 an ounce at the end of 2016. If that does happen, the Brexit gold coins will increase in value by at least 10 percent.
The most compelling aspect of owning the Brexit coins is the appreciation factor, but the coins are also collectible because they have the date of the vote on the face. Some British collectors say the Brexit coins are the most attractive coins ever issued by the Royal Mint.