8 Crucial Points You Need To Know About Gold Krugerrand
Update on 21st November 2017:
Gold Krugerrand is one of the good ways of investing. Clearly, as the name tells it is gold, and gold never loses its value over the time so you can consider it when thinking of investing money.
- What is Gold Krugerrand
A special kind of gold coin minted by South Africa is gold Krugerrand. The name Krugerrand was a tribute to the one and only South African This gold coin was introduced in 1967. Moreover, to it, this gold coin is still very famous around the world. On the other hand the prices of this bullion coin keep on increasing and decreasing but still, it doesn’t affect the popularity of this coin. Meanwhile, it is also the first gold bullion-coin ever.
2. Controversy over Gold Krugerrand
This South African gold bullion coin has been always an incredible success in the market around the world. After this coin was minted, it gradually became the first choice for gold investors. The person who understood the true value of gold, silver and other precious metals started preferring this coin over anything else.
In late 1980’s gold Krugerrand was appointed illegally. As a consequence, South Africa came under an economic threat. The sanction ended in 1994 and *but soon this coin regained its value in the market.
3. Composition of Gold Krugerrand
The gold jewelry, it weighs in karats. Whereas, the gold bullion-coins weighs an ounce according to the investors.
– Made up of
A single ounce of gold Krugerrand is composed up of copper alloy and 1 troy of 22 karat gold. The copper which is added in it gives an orange tint shade to the coin. The bullion coin is 2.84 mm thick and similarly 32.77mm in diameter.
The coin features the picture of the South African president Paul Kruger at one side and springbok antelope on the reverse side of the coin. Similarly, the name “South Africa” appears around the bust of the coin.
4. How is Gold Krugerrand Distributed
Since, this South African gold is delivered from the South African mint in tubes, which contains 10 to 15 coins per tube.It is exactly one ounce of pure gold and their government guarantees the purity and weight of the coin.
5. Price of Gold Krugerrand
The chart of the present prices of Gold Krugerrand id provided below;
6. Value and worth of Gold Krugerrand
Gold Krugerrand is a true legal tender, changing thousands of hands daily. Similarly, these coins can be exchanged with the current price of melted gold from the central bank of South Africa.
This coin has always been a sign of wealth and generosity. In addition, it is also known as the world’s trust money. However, there are also some factors which affect the value of gold Krugerrands such as fluctuating prices of gold, changes in the amount of gold jewelry, the demand for gold overall etc.
7. Sizes of Gold Krugerrand
Pursuing this further, this gold coin comes in four sizes, which are
– 1 ounce
– ½ ounce
– ¼ ounce
– 1/10 ounce
Each one of them has the same design. But the most common of these are 1 oz. and is found easily.
8. Why invest in Gold Krugerrand
There are a number of reasons for why you need to go for golf krugerrand when investing. The reasons are given below
– They are one of the easiest ways of investing your money directly in gold bullion.
– Secondly, it is also a safe investment as the gold never lose its value in the market.
– It provides a hedge against your unexpected loss over the time.
– One of the reason is gold itself, people own gold as an insurance.
– You will always know the price of the coins because of their daily update, you don’t need any special kind of knowledge for this.
– Moreover, you can sell it whenever the price of gold increases and can earn a profit. Also, you have an option to convert it into the cash from various banks, whenever you need money.
The South African bullion coin is the most popular coin in the world. Hence, If you are finding good and easy ways of investing your money then investing money in them will prove helpful for you. For more related articles please visit Online Money Investment.