Dealers are reporting a backlog of orders for bullion coins recognised as UK legal tender, which are exempt from CGT.Another dealer quoted suggests that the supply squeeze is just as bad (if not worse) in Europe.
Anthony Baird, managing director of gold dealer Baird & Co, says the company cannot deliver any Britannia coins until August due to lack of supply.
"We buy directly from the public," said Linda Warner, sales manager at bullion merchant ATS Bullion. "In the last couple of weeks, supply has been drying up because people hold on to what they've got in a situation like this."
The supply situation is worse from overseas sources, with European sales onto the market of coins and other forms of investment bullion particularly slack....
There's a veritable buying panic in place. Such panics are not the best time to buy, but the lack of supply is indicative of prices going higher. Not mentioned is any increase in premiums for those coins.