Austria and Iran consume most gold in coins in 1995

The use of gold in coins increased to 3.3 million oz. last year, compared with 2.5 million oz. in 1994, representing a rise of 32%.

A report entitled Modern Gold Coinage 1995, published by The Gold Institute, lists Austria and Iran as the chief users of gold in coins in 1995.

Austria consumed 793,015 oz. as a result of strong domestic sales and low interest rates, whereas Iran used 776,827 oz.

Although Australia ranked third in 1995, the country’s demand for gold in coins fell to 456,977 oz., down by 45% from 827,230 oz. in the previous year, owing to decreased exports.

Demand in the U.S. rose by 10% to 442,933 oz., owing to the sale of coins commemorating the XXVI Olympiad and to a 21% increase in gold used in the American Eagle bullion coin.

To order a copy of the report, contact The Gold Institute in Washington, D.C., at (202) 835-0185