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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!