Anticipating an end to the Gold Standard, the Rand Refinery (the world’s largest gold refiner at the time) began manufacturing modern bullion coins for public consumption. In 1968 the first modern 1 troy ounce gold bullion coins were manufactured and in 1971 the South African Rand Refinery was proved right and the gold standard was abolished, leading to a surge in demand for gold bullion coins. During the 70’s, South Africa monopolised the production of gold coins. In present day, the role of South Africa in gold production is much less prominent, with only 8% of yearly mining production attributable to them. Still, the Krugerrand is still highly valued. The long history of the coin means that it is still the most common modern gold coin in circulation, constituting roughly 20% of all gold bullion coins produced since 1970. The Krugerrand derives its name from Paul Kruger, the President of the South African Republic from 1883 to 1902. From 1970 to 1979 only the 1 oz coins were made, but since 1980 three other sizes (1/2 oz, 1/4 oz, and 1/10 oz) have been introduced. Krugerrand gold bullion coins are 22K and are instantly recognisable thanks to the portrayal of a springbuck (a type of antelope) on the back of every coin.
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LUXURY INVESTMENT INDEX
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The Canadian Maple Leaf The Canadians were the first to recognise the huge popularity of the Krugerrand and were motivated to improve on the highly successful South African gold bullion coin formula. In 1979 the Royal Canadian Mint introduced the Maple Leaf gold bullion coin. It was the first ever 24K bullion coin of the modern era (99.9% purity), with the gold content even further increased in 1982 to 99.99% and 99.999% in 1998. It is today the most popular 24K gold coin in the world with nearly 40 million Maple Leaves in circulation. While the 99.99% 1 oz variant is the most popular Maple Leaf coin (around 55%), other coins such as the 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz, and 99.999% 1 oz Maple Leaf coins are also available.
even more valuable. Although all things are possible and the current Chinese dissatisfaction with the US dollar is extremely transparent we at Investment Life aren’t holding our breath for a gold backed Chinese currency anytime soon. The American Eagle The American Eagle gold coin was launched in 1986, in four different sizes (1 oz, 1/2 oz, 1/4 oz, and 1/10 oz) at 22K purity. The 22K purity (mixed with harder alloys) makes it tougher than other coins with a higher gold content. This coin it seems is quite ready to serve as an alternative currency and is designed to stand up to the rough and tumble of daily use. The 24K American Buffalo coin was introduced in 2006 as an alternative for those buying gold coins in the USA. The US gold coin market is among the biggest in the world and the United States has the largest officially reported gold holdings in the world, making the American Eagle a popular choice even outside its geographic borders.
The Chinese Panda China got into modern gold bullion coin production in 1982, with the China Gold Coin Incorporation (CGCI) introducing the 24K (99.9% purity) gold Panda bullion coin in 4 sizes: 1 oz, 1/2 oz, 1/4 oz and 1/10 oz. They expanded the offering to include 1/20 oz and 1 g versions in 1983, at the time a world first. Perhaps the biggest novelty however, was the decision to a have new design on the reverse of the coins each year. This transformed the Panda coin into a hybrid between coins valued for bullion content and true collectibles. China is now the world’s largest gold producer with ambitious plans to accumulate as much gold as possible. China does not officially reveal the extent of its gold reserves, but they are rumored to rival the United States’ reported holdings of 8,133 tons. If the ongoing rumours that China is dabbling with the idea of establishing itself as a reserve currency candidate backed by gold are true then Chinese Panda could become
The Australian Kangaroo Australia started producing modern gold bullion coins in 1987 through the Perth Mint. The 24K coins boasted a purity of 99.99% and were initially labeled the Australian Nugget coin and until 1990 sported a different nugget design in each one of its 4 sizes (1 oz, 1/2 oz, 1/4 oz, and 1/10 oz). Since 1990 the Australian coins have featured a Kangaroo on the reverse, although the name only changed to the Australian Kangaroo in 2008. Similar to the Chinese Panda, the Australian coins have featured a different Kangaroo design on the reverse side each year since 1990, making it a prime target for collectors and investors alike. In 1996, the Perth Mint launched the Australian Lunar series featuring a new design each year based on the Zodiacal calendar. The Lunar coins are issued in more different sizes (nine) than any other gold bullion coin on the market and quantity is limited to further increase collectability.
The Austrian Philharmonic First minted in 1989, Austria’s Vienna Philharmonic coin is a relative newcomer, however the creativity involved in the design of the coin is without doubt world class. The coin design portrays a variety of instruments and is considered by some to be amongst the most beautiful coins ever made. The coins