Going for the Gold

With uncertainty in financial markets worldwide, many investors are turning to the perceived safety of tangible gold coins.

The U.S. Mint sold 255,000 ounces of gold bullion in August--nearly 10 times the usual monthly rate. And the brisk pace has continued this month, with 197,000 ounces sold through Monday.

Year-to-date, the mint has sold 1.13 million ounces, up 150% from this time last year. With gold prices near 19-year lows, sales are running at the fastest clip since the American Eagle bullion coin program was launched in 1987.

But the kind of investors who buy gold coins might not reflect a broad shift toward the precious metal.

For example, mutual fund investors appear to be staying away from the sector. Research firm Lipper Analytical Services reported a net outflow of $69.3 million from gold-oriented funds in August.