Prospects for a South African Krugerrand bullion coin struck in
platinum are quickly fading.
Terence Creamer is reporting on MiningWeekly.com that Daniel Mminele, deputy
governor for the South African Reserve Bank, says the bank will not
demand that the South African Mint produce a platinum bullion
coin. Consideration had been given to a platinum coin that would be
marketed in a manner similar to the way the popular gold Krugerrand
bullion coin is.
Connect with Coin World:
up for our free eNewsletter
Like us on
us on Twitter
Studies are reported to conclude that the initiative for a platinum
bullion coin is not economically feasible. Worldwide demand for such
an issue would constitute no more than 50,000 ounces annually,
compared to 1.1 million ounces for the gold Krugerrands, according to
the South African Reserve Bank.
Did a former automaker once issue scrip notes?
Plus, some alternative collecting methods:
Another column in the June 26 Coin World profiles John J. Pittman,
a czar of numismatic knowledge.
Mminele indicates the primary stumbling block is that platinum
could not be included in the bank’s reserves as, according to the
International Monetary Fund, it did not qualify as a monetary asset.
Platinum and silver coins are being included in sets from the South
African Mint marking the Krugerrand’s 50th anniversary.