Business: American Krugerrands

Despite Congress's decision six years ago to permit U.S. citizens to hold gold for the first time since 1933, few Americans were able to buy domestic gold. The smallest quantity offered by the Treasury Department in its monthly auctions before they were canceled last October was a 300-oz. bar that sold for as much as $118,000. A Midas with a smaller touch usually turned to the popular 1-oz. South African Krugerrand, which sells for about $25 more than the spot price for gold (last week's closing: $510). Throughout the years the South Africans...

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