South African Gold Krugerrand

South African Gold Krugerrand

The Krugerrand is a South African gold coin, first minted in 1967 to help market South African gold. The coin proved popular, and by 1980 the Krugerrand accounted for 90% of the gold coin market. It is produced by the South African Mint, and offered in one ounce, a half ounce, a quarter ounce and a tenth ounce of actual gold weight. The Krugerrand was introduced in 1967, as a vehicle for private ownership of gold. It was actually intended to circulate as currency. Therefore it was minted in a more durable gold alloy, unlike most other bullion coins. he Krugerrand is 32.6 mm in diameter and 2.74 mm thick. The Krugerrand's actual weight is 1.0909 troy ounces (33.93 g). It is minted from gold alloy that is 91.67% pure (22 karats), so the coin contains one troy ounce (31.1035 g) of gold. The remaining 8.33% of the coin's weight (2.826 g) is copper (an alloy known historically as crown gold which has long been used for English gold sovereigns), which gives the Krugerrand a more orange appearance than silver-alloyed gold coins. Copper alloy coins are harder and more durable, so they can resist scratches and dents. The Krugerrand is so named because the obverse bears the face of Boer statesman Paul Kruger, four-term president of the old South African Republic. The reverse depicts a springbok, one of the national symbols of South Africa. The image was designed by Coert Steynberg, and was previously used on the reverse of the earlier South African five shilling coin. The name "South Africa" and the gold content are inscribed in both Afrikaans and English Krugerrands were specifically created to be traded in the global market. They are the only 1 oz gold coins to not have a currency value attached to them. The value is based completely on it's gold content. The Krugerrand was the first 1 oz gold bullion coin and set the stage for other countries to mint bullion in the 1 oz measurements. Krugerrands are still one of the most internationally traded forms of gold and while at one time the most popular still is in the top 3 in terms of trade volume. Due to the change in attitude on paper currency and the financial markets, gold has emerged as the most trusted form of hedging against financial crisis with a those buying gold flocking to the Krugerrand.

Bob Chapman : The Banks are getting away with Murder

Bob Chapman Dr Deagle Show The Nutrimedical Report - 04 April 2012 : the same situation in Europe exists in the United States , most of the politicians are bought and paid for , Royal Bank of Canada are accused of wash sales , and they are guilty says Bob Chapman it is a criminal offense , Corzine of MF Global should be in jail says Bob Chapman , it is amazing how these bankers can get away with murder

Marc Faber on Where To Hide Your Gold

Marc Faber says that you should keep your Gold holdings outside the reach of potential confiscators “As you know, we had MF Global. What did the clients get? Less than what they had at the company,” “And I think eventually the financial system will be an MF Global, where you don’t get your money back from the banks and the investment banks and from the mutual funds and so forth and so on. And so I think everybody has to think to himself: how do I protect myself against the Black Swan event?” Marc Faber told Chris Martenson in a recent interview “Where is anything safe? I mean, I think in a safe deposit box is relatively safe, but maybe not in a safe deposit box in the U.S.,”
“If you look at the MF Global case, it seems—I don’t know for sure—but it seems some people got their money, but not others. This is a very disturbing thing to happen in the financial system. And when I see this, I think we have to be very prudent, so I would hold a safe deposit box outside the U.S.. “Now the question is: how is it to hold a safe deposit box with a bank if the bank closes down. And this happens,” Faber continued. “You can also hold safe deposit boxes in duty-free stores, warehouses at airports around the world. In Switzerland we have them; in Singapore we have them, and so forth. So that’s a possibility.” Faber explained

Jim Rogers : I Will Buy More Gold

Legendary Investor Jim Rogers said at a conference in Bucharest on April 04, 2012 “I expect the price (of Gold) to decline and when that happens I will buy more,”
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.