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If a Krugerrand is £248 = 1troy oz, and a sovereign is £110 = 0.23troy oz. How many sovereigns are the value of a krugerrand and which is the better buy?

Am hopeless at maths.....can anyone works this out!

terambulan Thurs 21/08/08 22:12

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Buenchico
Thurs 21/08/08
23:14

Here's a rough way to look at it:

If you buy a sovereign for £110, you're getting just under one quarter of a troy ounce. So to get (nearly) a whole troy ounce you'd have to pay buy 4 sovereigns, which would cost you £440. On the other hand, you get a whole troy ounce by buying a Krugerrand for £248, so which are you going to buy?

If you'd rather have a precise answer, the sovereigns are priced at £478.26 per troy ounce, which is 1.93 times (i.e. nearly double) the gold price of the sovereigns.

Chris

jno
Sat 23/08/08
12:28

that doesn't sound right - at that rate nobody in his right mind would buy sovereigns. Are you sure the krugerrand figure is the right way around and not £428?

http://www.taxfreegold.co.uk/wesellkrugers.htm l

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