Gold coin donated for 18th straight year

upi ^ | Dec. 11, 2009

[JoeProBono]

CAPE GIRARDEAU, Mo., Dec. 11 (UPI) -- Salvation Army officials in Missouri said someone carried on an 18-year tradition by dropping a gold coin into one of the charity's donation kettles.

Maj. Ben Stillwell of the Salvation Army said a Krugerrand South African gold coin wrapped in a U.S. dollar bill was dropped into a kettle at the Sam's Club in Cape Girardeau, marking the 18th straight year that a gold coin has been donated to a kettle in the city, the Southeast Missourian reported Friday.

Stillwell said the coin was sold to a local dealer for $500, bringing the charity closer to its Tree of Lights celebration goal of raising $307,000 by Jan. 11. He said the local Salvation Army has thus far collected just over $160,000.

[JoeProBono]

[ml/nj]

What fools! I would have given them $800.

ML/NJ

[JoeProBono]

[1raider1]

Aren’t Krugerands 1oz? If so, I think they got ripped-off since gold is now selling for over $1,000/oz

[NautiNurse]

Is the Krugerrand minted in 1/2 oz denomination? Otherwise, $500 for the coin is a ripoff.

[allmost]

Good people all along the chain. bump.

[C19fan]

***src on***That coin is RACIST!!! The Salvation Army should of rejected it.***src off***

[Nam Vet]

My bro just bought some for $1190 last week. Purchase price is about $100 less.

Nam Vet

[WackySam]

What fools! I would have given them $800.

Had to be a 1/2 coin.

[NautiNurse]

Denominations of Gold Krugerrand Coins

Originally, there was only one size gold Krugerrand and that was the 1 Troy ounce coin. Over the years, however, the gold Krugerrand has been minted in additional sizes to appeal to private investors of all sized pocketbooks, including:

• 1 Troy Ounce Gold Krugerrand
  32.6 mm diameter with 2.75 mm thickness
• 1/2 Troy Ounce Gold Krugerrand
  27.0 mm diameter with 2.24 mm thickness
• 1/4 Troy Ounce Gold Krugerrand
  22.0 mm diameter with 1.83 mm thickness
• 1/10 Troy Ounce Gold Krugerrand
  16.5 mm diameter with 1.19 mm thickness

[I_Like_Spam]

Krugerrands come in 1 oz, 1/2 oz, 1/4 oz and 1/10 oz denominations.

[Diana in Wisconsin]

Cape Girrardeau, MO is Rush Limbaugh’s home town. Wonder if he or David have anything to do with this? ;)

[donmeaker]

The only multmillionaire from that area that I know is Rush Limbaugh. He has been doing well for at least the last 18 years.

[Ethan Edwards]

They come in 1/10, 1/4, 1/2 and 1 oz. That looks like a 1/2oz so they probably did OK but I would have given $550 for it based on the last spot price. Right now dealers are paying around $1100 for the 1oz coins. They usually pay slightly more for the smaller coins because they have to mint more for an oz. If that coin is a 1oz coin then the dealer totally ripped them off.

[JoeProBono]

[allmost]

Somebody dropped this in a bucket. The moral of stated company continues to amaze my jaded soul.

[budwiesest]

Ditto.

[Diana in Wisconsin]

Did they ever succeed in killing Farrakhan? :)

[WackySam]

That looks like a 1/2oz so they probably did OK but I would have given $550 for it based on the last spot price.

It's was probably a small dealer, and only one coin, so the price is fair.

[budwiesest]

How will gold ever be re-instated as a medium of exchange at these prices? For instance, what size 'coin' would I need to buy a twelve-pack?

With that in mind, could it be that the gov. would like to deflate the value of the currency enough to ensure gold may never make a comeback? How about a pack of gum?