Spain approves $43 million to expand its gold coin options amid surging demand gold coins Spain
The Spanish government approved up to 40 million euros in its new budget for minting high-quality gold coins following a surge in demand.
The 40 million euros is an unusually high amount for Spain. In the past, the approximate budget was around 10 million euros. The amount approved this time is based on estimates of the cost of contracts and expected demand based on 2021 and 2022 numbers, Cinco Días noted. Spain began minting gold coins via this scheme in 2021. The first minted gold coin was dedicated to the Iberian Lynx and had a circulation of 12,000 units. Another popular coin was Toro, with a maximum circulation of 15,000 units. The coins are sold nationally and internationally.
According to the World Gold Council, the overall gold demand hit a decade-high last year. Demand jumped 18% in 2022 to 4,741 tonnes, almost on par with 2011, the WGC said earlier this year.
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