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Krugerrand question


#1

Please note that a one-ounce Krugerrand coin traditionally is a coin
that contains one ounce of gold; it is already 22k gold, not 24k
gold so you don’t have to alloy it to 22k.

Also, checking a coin site, I see that a one-ounce Krugerrand is
selling for $645 today but it is not clear from that if it is a coin
containing one ounce of 24k gold.

Finally, note the spelling: it’s Krugerrand, not Krugerand because
the name derives from an apartheid-era politician, Kruger, plus the
South African currency, rand.

Ettagale Blauer


#2

Lisa,

Check out Krugerrand prices on Ebay, you will see they sell for
between $650 to $750, depending on quality. Sell the coin to a coin
collector and use the proceeds to buy fresh gold from your bullion
supplier is my advice.

Good luck

James Miller in the UK where Krugerrands sell for up to 375 if they
are perfect.


#3

Hi Guys,

Just wanted to thank everyone for their input on
Krugerrands…yes…I spelled it correctly this time. Thanks
Ettegale. Since posting my original question, I have learned what the
composition of a Krugerrand is…and isn’t…is, how to use them,
how to sell them, where to sell them, what they are worth and how
others use them. Several of you wrote me off list with suggestions
and offers. (Thanks Marianne & Ray to name two), Someone even sent me
a nice chart on alloying gold, (Thank you Jalil). Thanks to each and
every one of you for taking the time to help me out and to inform me
and everyone else on the list.

Based on the first posts, I had figured, “Aha!” I will heat it and
roll it out. Then the other posts came in, and I thought
weeeelllll…maybe I should sell it and buy stock. Then came the
posts about how much money I would lose if I did that, after, the
ones about holding onto it for a rainy day, and that was pretty
compelling too. The deciding post was the one pointing out that my
time was money, and spending the time to anneal and roll would cost
me. That made a lot of sense.

I have decided for now, to hold onto the coin until the price of gold
goes back up a bit, then no doubt I will sell it and use the money
for 22k stock. Although I am perfectly capable of the work it would
take to transform the coin into stock, and I have the equipment,
Neils’ thoughtful post pointed out the obvious in the loss of time
and its value.

So there you have it. A perfect example of how wonderfully well
Orchid works to inform and to network among us all. Someone asks a
small question or makes a statement, and those interested or well
informed or those just wanting to put in their two cents, (…who
me…? ), and willing to share, or in some cases, insist on
sharing… (who me?), go running for the keyboard. The question is
answered in myriad ways, and often sparks discussion on something
related and the cycle starts over again. In this case, another thread
has taken up on the Krugerrand post regarding the use of rolling
mills…

This is a prettty cool system Hanuman. Thank you for thinking of a
site like this and spending so much of your time to give us the
Orchid List. I know that we all appreciate it. Oooohhh…and lookie
what I just noticed… We can actually… Donate * Some *
Money… to keep Orchid going and Hanuman happy…!
http://www.ganoksin.com/donate/ …Who knew!?