Saturday, April 21, 2012

Underweight Gold Coins Scandal Rocks Mint

The SA Mint Company, a subsidiary of the Reserve Bank, has admitted that it made underweight proof or collector krugerrands.
Economist Dawie Roodt, a former chief economist at the Reserve Bank, said while mistakes happen, "it is worrying".
"These coins were cast at the SA Mint Company and basically didn't have enough gold in them. We should be concerned because this . . .
Read more at: Times Live

1 comment:

South Cape Coins said...

This is incredibly disturbing to read about and the fact that the misconduct of employees of the SA Mint could seriously damage the reputation of the Krugerrand makes this even more infuriating.

The Krugerrand is, and has been since it was first minted in the 1960's, on the of the most popular and top performing bullion coins available.

We can only hope that this issue is resolved as soon as possible and that we don't experience any negative effects with regards to future Krugerrand sales, especially for investment purposes.

South Cape Coins: