Gold Krugerrands Offered at Incredible Discount to Mark President Kruger's Birthday

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Nov 18, 2010, 06:00 ET

AUSTIN, Texas, Nov. 18, 2010 /PRNewswire/ -- The United States Gold Bureau is marking last-month's 185th birthday of four-term South African president Paul Kruger by offering 1-ounce Gold Krugerrand Coins for only 3% over the spot price of gold.

Gold coins, including the Krugerrand, normally sell for between 5% to 10% above the spot price of gold, which is the price of the raw metal, as determined by the Commodities Exchange (COMEX). The spot price forms the basis for all bullion coin prices, though there is additional cost associated with the minting, distribution and processing of the coins that increases the final price.

"The Krugerrand was first minted in 1967 and was the first gold bullion coin to be made available in the American market," said John Hutmacher, CEO of the U.S. Gold Bureau. "Other countries responded with their own one-ounce gold coins, including the American Eagle and Canadian Maple Leaf."

"Since the Krugerrand was the first gold coin in circulation, it is still very well-revered," said Hutmacher. "That's why we decided to mark President Kruger's birthday with this offer."

The Krugerrand features a depiction of President Kruger on the front and a springbok antelope, one of the national symbols of South Africa, on the reverse.

Paul Kruger was born on October 10, 1825, and served as president from 1883 to 1900. He governed the country when a massive deposit of gold was discovered in South Africa's Witwatersrand region, which started the "South African Gold Rush" and led to the founding of the city of Johannesburg. The alternate name for the city is Egoli, meaning "City of Gold." Kruger died in Switzerland in July 1904 and was buried in Pretoria, South Africa.

The Gold Krugerrand Coins are being offered at the special price of 3% above spot while quantities last, with a minimum of 10 coins. Interested collectors and investors can visit the company's website at www.usgoldbureau.com or call the Order Line at (800) 775-3504 for information, live quotes and purchase requests.

The U.S. Gold Bureau is an authorized dealer for the U.S. Mint and maintains an A+ rating with the Better Business Bureau (BBB). The company offers silver, platinum and gold bullion and certified coins direct to the public.