Krugerrand Gold Bullion Coin - The First of Its Kind
Gold Bullion has been available for investment purposes and tied directly to the spot price of gold for decades. There are several gold bullion coins from different countries to choose from when creating, or adding to, a precious metals portfolio. So what is it about the South African Krugerrand gold bullion coin that makes it so unique amongst all of the gold bullion coins of the world?
The Krugerrand was the very first gold bullion coin ever minted in the world for investment purposes. Originally introduced by the South African Mint Company in the 1 ounce coin denomination in 1967, it was produced to promote South African gold and its gold mines. As it was originally intended strictly for currency purposes, the Krugerrand quickly became the most popularly traded gold coin throughout the world.
When the Krugerrand was first minted, South Africa was going through very interesting political times and changes. With many Western Countries creating economic sanctions against South Africa due to apartheid, it was illegal to import Krugerrand gold coins into most Western countries until 1994. The popularity and success of the Krugerrand initiated many other gold producing countries to mint their own gold bullion coins and bars, the first being the Canadian Maple Leaf Gold bullion coin by Canada in 1979. By the late-1980's, several other countries would have gold bullion coins in production and circulation, such as the Chinese Panda gold bullion coin, the American Eagle gold bullion coin, and the Austrian Philharmonic gold bullion coin, to name a few. In 1980 the South African Mint Company introduced three additional coin sizes for the Krugerrand, which are a half ounce, quarter ounce, and tenth ounce of gold. This led to most other countries eventually minting their gold bullion coins in various sizes for investors who were buying gold bullion for the purpose of buying gold as an investment.
With over 47 million ounces of gold in Krugerrands having been traded and sold, the Krugerrand is considered the leading gold bullion coin in circulation throughout the world. The 1oz Krugerrand is the most popular of all its coin sizes traded internationally as it is the easiest to follow with the spot price of gold. It contains 22 karats of gold, a diameter of 32.77 millimeters, and a weight of 33.93 grams. Each and every individual Krugerrands size, weight, and purity is guaranteed by the South African government.
Although Krugerrands are currently not allowed in a gold IRA, they make for a great diversification in ones gold coin investment portfolio or collection. It is hard for any other gold bullion coin to match the popularity the Krugerrand has gained over the years. All within one gold coin, each Krugerrand offers you a solid, popular investment and a piece of South Africa.
To learn more about the South African Krugerrand gold bullion coin and current availability, contact Precious Metals Brokerage Group and one of our account executives will be happy to assist you with any questions you have.
Article Source: FxTradingStock.com
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Learn more about theKrugerrandgold bullion coin, or establishing agold IRAPrecious Metals Brokerage Group or call us toll free at 866-775-3131.
by: Thomas Rosen
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Word Count: 501
Date: Wed, 19 Jan 2011
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