It is true the monetary base spiked during these initial rounds of QE, but the second reason QE didn't lead to hyperinflation is we live under a fractional reserve baking system whereby the money supply is more than just the amount of physical coins, paper money and bank deposits in the system. (investopedia.com)
The second part of the equation though, or really the first in the context of your question, is that physical coin sales have been a less dominant means of participating in the physical gold market in the last 15 years, relevant to the ETF (exchange trade funds). (resourceworld.com)
Firstly, they're not minted into physical coins or banknotes. (finder.com)