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The legend is inscribed with "KRUGERRAND" and the gold weight. The Krugerrand ( / ˈkruːɡərænd /; [ 1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. [ 2][ 3] The name is a compound of Paul Kruger, the former ...
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation. [ 1][ 2 ...
Added to NRHP. February 18, 1988. The United States Bullion Depository, often known as Fort Knox, is a fortified vault building located next to the United States Army post of Fort Knox, Kentucky. It is operated by the United States Department of the Treasury. The vault is used to store a large portion of the United States' gold reserves as well ...
The specifications of bullion are often regulated by market bodies or legislation. In the European Union, the minimum purity for gold to be referred to as "bullion", which is treated as investment gold with regard to taxation, is 99.5% for gold bullion bars and 90% for bullion coins. [2]
A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money ), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency . The World Gold Council estimates that all the ...
The 1978 series began with denominations of 2, 5, 10, and 20 rand, with a 50 rand introduced in 1984. This series had only one language variant for each denomination of note. Afrikaans was the first language on the 2, 10, and 50 rand, while English was the first on the 5 and 20 rand. A coin replaced the 1 rand note.
Doré bar. A doré bar is a semi-pure alloy of gold and silver. It is usually created at the site of a mine and then transported to a refinery for further purification . The proportions of silver and gold can vary widely. Doré bars weigh as much as 25 kg. During the 19th century gold rushes, gold nuggets and dust were melted into crude gold ...
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $487 in 2023) [ 6 ] per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed ...
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