The South African Krugerrand changed the gold bullion trade. First minted in 1967, the Krugerrand was the first one-ounce bullion coin to be made available to investors and collectors all over the world. Prior to that many world citizens were not eligible to invest in South African gold because of Apartheid.
However, there was no rule against foreign investors buying gold coins from other countries and South Africa used the loop-hole to issue collectable gold coins – although some countries still issued sanctions to refuse one-ounce Krugerrand coins. Today, the Kruggerand is one of the most sought-after coins in the world.
Made from .999 pure gold, the Krugerrand is legal tender and can be sold anywhere in the world for the local currency. The coins have a distinctive orange-gold hue which is caused by blending 24-karat gold with copper alloy.
Why buy gold Krugerrand coins
Despite the international ban, the Krugerrand is the most widely circulated gold bullion in the world. In the early days, its notoriety and lack of competition made the coin highly popular, but despite a spate of high-quality gold bullion flooding the market since the late 1980’s, the Krugerrand remains the world’s most widely distributed gold coin.
At the moment, precious metals are in decline. Gold prices feel to a four-month low this week despite a late rally on Friday. Analysts expect a volatile market over the coming months until the rebound of the Ukraine crisis has settled down and data showing the global economy is strengthening becomes more consistent.
News of the US Federal Reserve’s plans to end its stimulus in the Autumn and increase interest rates in early 2015 was well received by traders who ditched precious metals in favour of the dollar. Gold was down by almost $50 by the end of a turbulent week.
Buy gold Krugerrand
In Asia, precious metals fell after the central bank of the People’s Republic of China announced it would be tightening controls on credit loans after default payments on copper threatened to expose the unregulated shadow banking system that has allowed companies to borrow against metals.
To protect your financial future, invest in the safe haven of gold bullion coins – and you will not go wrong with the South African Krugerrand. Check out the latest prices on coininvest.com now!