With the world global economy still reeling from the recent economic crisis, the move to buy gold as an alternative and sensible investment still remains strong.
Gold is available to buy in various forms. These include bullion, coins and certificates. One coin which is gaining in popularity as an alternative investment is the Krugerrand from South Africa. It was first introduced in 1967 as a form of currency but due to the apartheid during the 1970’s and 1980’s it was seen as illegal tender around the world. However, with the abolishment of the apartheid in 1994 the Krugerrand is now seen as a viable gold investment.
Krugerrands are generally sold as a one troy ounce coin but a half ounce coin, a quarter ounce and a tenth ounce coin is also available. The Krugerrand is named after Paul Kruger, a Boer statesman. His head appears on one side of the coin and a springbok, the national symbol of South Africa, is on the reverse.
Following the success of the Krugerrand other countries followed suit and introduced bullion coins. Examples of this include the Canadian Maple Leaf coin, the American Gold Eagle and the Australian Nugget coin.
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