At the Rand refinery in South Africa, the phone has not stopped ringing this week.
Panicking German dealers and banks have been desperate to get their hands on krugerrands, the world’s most popular gold coin.
“We have some extraordinary sales to German customers,” says Deborah Thomson, the Rand treasurer. The refinery, which usually sells 2,000 coins to each customer at a time, says that last week it received an order from one German bank for 30,000 coins. Another bank requested 15,000 coins.