Friday, 29th August 2008 (441 views)

An "unusually large" order from a Swiss buyer has cleared out the gold bullion stocks of a coin maker in South Africa, reports thisismoney.co.uk.

Rand Refinery was given an order for 5,000 ounces of gold which it uses to produce the "iconic" Krugerrand coin.

According to the website, the Krugerrand was introduced in 1967 and is the world's most popular gold coin.

Rand Refinery is the sole producer of the coin and has delivered, so far, over 46 million of them.

The coins at the refinery are blank and are sent to the South African mint to be stamped with the image of Paul Kruger on one side.

Such has been the success of the coin, other countries have created their own bullion coins, for example the Britannia, the Canadian Gold Maple Leaf and the American Gold Eagle.

Earlier this week, it was announced that production of the American Gold Eagle was to resume.

 

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