Buying and Selling Gold Krugerrand
Gold Krugerrand is the gold coin created and minted by the South African government. Its production started in 1967 that made it the 1st gold coin produced at the time the United States outlawed the bullion ownership. This rule lasted for a long time. Its sole exception was that these coins had a numismatic value.
In South Africa, gold Krugerrand is legal tender. However, just the same with the bullion coins, the worth of the underlying precious metal surpasses the face value when used as money. Therefore, it is significantly symbolic. This feature let citizens from various countries worldwide to own gold Krugerrand coins. That’s because they allowed proprietorship of foreign currency.
At first, there was one size for Gold Krugerrand. It was the one troy ounce coin. Through the years, on the other hand, it underwent the minting process to produce this coin in new sizes which enticed the private investors with different budget allocations.
The Gold Krugerrand, such as the US American Eagle Gold coin, is 91.6 percent pure gold which is equal to 22 karat gold. Meaning, this coin comes with twenty-two parts pure gold and two parts copper alloy. It gives a one-of-a-kind orange-gold glow to gold Krugerrand.
You can buy this gold coin for some percentage points through the spot gold cost. At the same time, you can sell it at some percentage points underneath the spot gold cost from specialty bullion & coin dealers not only in the US but all over the world. Gold Krugerrand is usually easier to store, transport, buy, and sell compared to gold bars. It makes them popular among gold investors.
The front of gold Krugerrand coins features Paul Kruger, the 5th and last South African president, and the resistant warrior against the UK government. The Springbok antelope is at the back of these coins.