Why is Anglo American Gold company taking SA GOLD ?

Question: IF SOUTH AFRICA IS A COUNTRY WITHOUT COLONIALISM RULINGS WHY IS THERE STILL AMERICAN COMPANIES THAT EXIST, WHO OWNS THE GOLD THEY ARE DIGING AND HOW.

Answer: Hi! The American companies like the Anglo American Gold company had their own way of getting this done, (ie to own the gold mined in SA), they introduced what's called "Krugerrand". A Krugerrand is a South African gold coin, first minted in 1967 in order to help market South African gold. The coins have legal tender status in South Africa but are not actually intended to be used as currency,(which is a reason why it is regarded as being one of the world's medal-coins). The Krugerrand was the first bullion coin to be tenderable at the market value of its face gold content; by contrast, earlier gold coins such as the gold sovereign had a tender value in currency engraved on their face, which could be completely divorced from their market value. The Krugerrand was the first gold coin to contain precisely one ounce of fine gold, and was intended from the moment of creation to provide a vehicle for the private ownership of gold. By bestowing legal tender status upon the coin, Krugerrands could be owned by citizens of the United States, which at that time prohibited private ownership of bullion but allowed ownership of foreign coins. However, due to the policy of apartheid in South Africa, the Krugerrand was declared illegal to import in many Western countries during the 1970s and 1980s until that system was lifted between 1990 and 1994. So!! Now you know! :-)

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