Investments: Lady Liberty's Golden Glow
The South African Krugerrand was far and away the world's top-selling gold bullion coin for years. Then the U.S. banned imports of the item last October in protest against South Africa's racial policies, and Krugerrand sales fell so sharply that production was halted. Canada, Australia and China, among others, are trying to take up the slack. This October the U.S. will begin selling gold coins in $5, $10, $25 and $50 denominations, though the sale price will vary with the value of the metal.
The new U.S. contenders are of great interest to Canada, whose Maple Leaf coins have become global best sellers, with 64% of the $1 billion market in 1985. The Canadians hope that a U.S. promotional blitz for the Liberty series will have a spillover effect and expand sales of the Maple Leafs as well.
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