Utahns turn to gold, silver coins in uncertain times
 

There is a gold and silver rush of sorts going on in Utah these days.
Worries over the future of the nation's economy and the looming possibility the federal government's trillion-dollar deficits may ignite inflation has many Utahns fleeing to the perceived safety of gold and silver.
The result is a shortage of some of the more popular bullion coins throughout the state.
"Where we have really seen a shortage is in the 'fractional' coins -- the American Gold Eagle, Canadian Maple Leaf and South African Kruggerand coins that contain a tenth, a quarter and half-ounce of gold," said Bob Campbell, owner of All About Coins in Sugar House.
A year ago, Utah coin dealers could hardly give away such coins, said Campbell, a former president of the American Numismatic Association. "Now they are in high demand and we can't seem to get enough."
The shortage, however, isn't just in Utah.
"It is a nationwide shortage," said Peter Grant, senior market analyst at USAGOLD-Centennial Precious Metals Inc. in Denver. "We're seeing a huge unprecedented demand for gold as a safe haven asset."
Gold and silver (known as the "poor man's gold" because of its much cheaper price) are widely viewed as offering a hedge against inflation and a store of value in uncertain economic times.
Gaylen Rust, owner of Rust Rare Coin in downtown Salt Lake City, said he is seeing an increasing number of retirees and those nearing retirement wh...




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