Wednesday, April 2, 2008
The Australian Gold Nugget:
The Australian Gold Nugget was first minted in 1986 by a private company owned by the Australian Government. Like its predicessors; the Krugerrand and the Canadian Maple Leaf, it is "legal tender" currency that is sold for its gold value; not its nominal face value.
Like the Canadian Maple, the "Nugget" is .999 pure gold and needs to be protected from defacing and scratches that could impact its value. It is available in the "king sizes" of 32.15 ounces/1000 grams (worth about $32,000!); all the way down to 1/20th of an ounce!
The larger coins are attractive to investors that want the practicality, or even "bragging rights", of not paying more premiums (amount over the gold value) than absolutely necessary. Obviously, liquidation of the larger coins, might in turn, be more difficult since you just don't walk into a "1 oz" or less store with a 32 oz coin!
One other thing; each new year brings with it a new design.
To Learn More About Gold Investing:
Gold Guru: Paul A Drockton M.A.