Krugerrand gold is extremely popular for the reasonable gold prices, purity and high quality
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Submitted: 2010-09-08 07:02:23 | Word Count: 542
Krugerrand gold of South Africa was minted for the first time in the year 1967. The coin produced by Mint Company of South Africa aimed at helping the gold market of South Africa. Since it was considered to be a vehicle for private gold ownership, the coin minted was very different from the other bullion coins and made of extremely durable gold alloys. Because of the policy of apartheid there were economic sanctions against the state and this made import of krugerrand to the western world from 1970-80s an illegal affair. The sanctions became invalid as the state in the year 1994 abandoned apartheid. There were no monetary values inscribed on the coins. The gold prices differed according to the fluctuation of the market prices.
Value Of Gold And Gold Prices:
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Krugerrand gold by the year 1980 captured about 90% of the gold coin market. This encouraged many other countries to start producing gold as well. There were many other states that started producing gold in their private bullion coins like Canadian Gold Maple Leaf in the year1979, in 1986 the American Gold Eagle, in 1981 the Australian Nugget. There after in the year 1980, coins of small sizes were introduced and these were of quarter ounce, half ounce and tenth ounce of pure gold.
Krugerrand gold coins through out the year 2008 containing gold of about 46 million ounces were sold. This is particularly because of the high market value that the gold coins enjoy. For example, 1 oz of the Krugerrand coins will cost around $700 if value of gold in the market is around $700. Again with rise in the value of the gold prices, the value of Krugerrand also increases. That is, if the value of gold goes up to $900, the Krugerrand gold prices also becomes $900.
Description of The Krugerrand Gold Coins:
The gold coin is 2.74 mm thick and 32.6 mm in diameter. The actual weight of the coin is 33.93 g. It is minted from 22 karats gold and thus 31.1035 g gold is contained in it. Apart from gold, it contains about 2.826 g of copper. It is because of the copper content that the krugerrand gold coins appear orange in color. The coins are extremely durable and resistant to dents and scratches.
On the observe side of the coin there is the image of Boer statesman Paul Kruger inscribed. He was the four-term South African president. On the reverse there is the springbok which is one of the South African national symbols. The image was the creation of Coert Steynberg. The name of the state is inscribed both in English and Afrikaans.
Investment in gold even today is considered to be a very lucrative option. It is one of the most stable forms of investment. The gold prices remained high even in times of the tough economic scenario. The stable krugerrand gold prices offered stability to different business professionals as well as different countries. The coins which are extremely durable can also be used for making attractive jewelries as well.
Author Resource:-Krugerrand gold coins are preferred by investors and collectors for their intricate design and gold prices they offer.
