The #1 best selling author on Gold and Silver, Mike Maloney, explains why gold bull market is only beginning by explaining why one gold coin is not yet worth a handmade man’s suit. Find out more at: goldsilver.com
The gold bullion coins found, minted and sold in South Africa are known as South Africa Gold Krugerand Coins. As there is an abundant supply of these precious metals that come from the deep mines surrounding Johannesburg, South Africa is, therefore, one of the largest producers of gold in the entire world.
Countries often connect the designs of their currencies according to particular historical accomplishments. That is why one person named Stephanus Johannes Paulus Kruger was chosen to bear the imprint on their legal tender. The gold bullion coins made in SA derived its name from him and called it the Krugerrand.
The reason why there’s a high convincing price for these Gold Krugerrands in the market is that these gold coins can register up to 22K in its fineness. So, which gold krugerrands are considered the most valuable?
It is the extraordinary one troy oz gold coin deemed as the most valuable of all Krugerrands. It has 32. 77 millimeters in diameter, weighing 33. 930 grams and sparkles with a 91. 67% fineness. A number of these coins goes from one troy ounce to oz, oz. And the 1/10 troy ounce.
Now that SA’s legal tender was purposely made to trade for its gold value with only a minimum cost to produce as well as distribute it, more backers are choosing them over other gold bullion coins offered by other states as well as the United States of America. Keep in mind that gold coins offer low premiums but high liquidity so it is a good choice of investment.
A gold coin’s value depends much on its weight, diameter, thickness and fineness for it to be considered as of excellent value. The South Africa Gold Krugerrands possess all the winning characteristics for investors to consider as one of the most valuable investments to have ownership on.
In China gold is not only a symbol of wealth but also of good fortune. The latest gold rush in China has been fuelled by a combination of factors, such as the depreciation of the US dollar, and the price risen a wide range of commodities, including oil. In Beijing, 300kg gold bars minted by China gold coin Inc to commemorate the year of the Rooster, retailing at 125 Yuan (US$15. 60) a gram, were sold out within 7 hours on November 19. Again on the 26 of November demand exceed supply even though the price had increased to 128 Yuan.
The strong demand for gold in China has been embraced by the nation’s banks and other financial institutions. The Bank of China’s Shanghai branch, in November introduced “Gold Treasure”. This has been designed to make it easier for the public to invest in gold. Instead of taking delivery of the gold the investor is given a document issued by the central bank certifying the amount purchased. The investor can sell the gold back to the bank and surrender the certificate.
The population of China is 1. 2 Billion and China’s potential demand for gold is 37,000 tonnes A Reuters news report recently announced that Financial News, a newspaper published by Peoples Bank of China, urges an increase in gold reserves to diversify the nations forging exchange holdings. Chinas gold reserves stood at nearly 13 million ounces at the end of September, unchanged from the end of last year, official figures showed this nowhere near compares with the US government reserves of 262 million ounce. The newspaper also said Beijing should allow individuals to freely buy and sell gold and encourage residents to store gold. Until now Chinese residents have only been able to buy gold jewellery through retail stores.
It should be noted that the Chinese have used gold jewellery as a form of saving since time immemorial. “In case of an economic crisis, the state could buy gold form residents and use it to pay back foreign debt” the Financial News said.
China’s impact on gold could be as much as one ounce per capita as with the US, so should china achieve the same financial backing it would require 1. 2 Billion ounces of gold or 37,000 tonnes. This is the same amount of gold in deposit today in all the Central Banks in the world. This sort of demand will send the price of gold soaring.
The history of American gold Buffalo coin went back to 1913, when the famous Buffalo Nickel was produced for the first time in history. Then Treasury Secretary Franklin MacVeagh hired Sculptor James Earle Fraser to design a new American Nickel. Produced in 1913 to 1938, Buffalo Nickel features an Indian chief on the obverse side, and a American Bison, not a Buffalo as commonly believed, standing on a mound of dirt on the other side. Soon after the Buffalo Nickel went into circulation, a problem occurred: the raised mound part wore away quickly. The design of later 1913 Buffalo Coins was modified to take off the raised mound part. In 2005, Congress passed the Presidential $1Coin Act, which authorized the US Mint to issue a 1 oz 24-Karat gold Bullion coin. The legislation was quite specific, mandating the design of new . 9999 fine gold coin: The coin “shall bear the original designs by James Earle Fraser, ‘which appear on the 5-cent coin commonly referred to as the ‘Buffalo nickel’ or the ‘1913 Type 1′. ” In other words, the new coin should carry the famed 1913 Buffalo Nickels’ design by Fraser. As a result, the American gold Buffalo coin was released to the public in 2006. Unlike previous American gold coins, American gold Buffalo coin was the first 0. 9999 fine gold coin released by the US Mint. The coin was an immediate success. The US Mint sold a total of 323,000 coins in only seven months. By comparison, only 201,500 1 oz Gold Eagles, the world’s best selling gold bullion coins, were sold that year. As the 2005 Presidential Coin Act mandated, the 2006 American gold Buffalo coin is almost a replica of the 1913 Buffalo Nickel. The face side of the Gold Buffalo coin features the American Indian chief and the word “Liberty. ” The back side design is the same American bison standing on the mound. You will also see $50 1oz. . 9999 FINE GOLD, and IN GOD WE TRUST inscribed on each gold Buffalo coin. The US Mint continued producing the American gold Buffalo coins in 2007 and 2008. The coins are so popular among collectors and investors that, for a time in late 2008, the US Mint had to suspend sales because they could not keep up with demand.
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