In its 50 years 53.5 million ounces of #gold in #Krugerrands have been sold & over $21.5bn of forex generated for #SouthAfrica


Half a century as a store of value
Krugerrands remain a timeless investment for gold bulls.

Eleanor Becker / 4 May 2017 00:05

The renowned Krugerrand – dubbed the world’s first, most successful and widely-traded gold bullion coin – this year celebrates 50 years since its first minting.

It was mainly created to add value to, and create a premium for, SA gold sales. “It’s more than exceeded any expectations that could have been had at the outset,” says Richard Collocott, Rand Refinery’s executive head of marketing and a director of Prestige Bullion, the Rand Refinery and SA Mint joint venture.
Since inception, just less than 53.5 million ounces of gold in Krugerrands have been sold and over $21.5 billion of forex revenue generated.
Of the Krugerrands produced, about 90% have been sold internationally, says The Scoin Shop executive chairman Alan Demby.
“As an example of appreciation, a R10 000 investment in Krugerrand coins in 1967 would today be worth R6 million to R7 million,” he says. A 1967 proof Krugerrand trades for about R40 000 today.
In 2016 Krugerrands were the world’s top-selling gold coin, with $1.3 billion in sales – for the first time since 1980, says Collocott. “We anticipate that we should retain our number one position for 2017 also.” 
See the rest of the article here: 

from MasterMetals http://ift.tt/2p94dln

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