Coining it: charity hits gold

2010-01-05 00:00

AN American charity donor dropped a gold Krugerrand in a Salvation Army collection “kettle” in Louisiana at Christmas, and a gold expert has urged South Africans to consider doing the same, because the coins escalate in value, giving the charity more than the donor paid.

Anonymous Krugerrand drops in collection kettles occur throughout the U.S. at Christmas, with the first gold coin having been given in 1982 in a Chicago suburb.

About 300 of the gold coins have since been donated.

Louisiana Coin Exchange in Shreveport appraised the one-ounce coin at $1 100 (R8 250), but the Salvation Army will probably get more than the appraised value since gold prices have been setting records in recent weeks.

Alan Demby, executive chairman of the South African Gold Coin Exchange, lauded the spirit shown by American Krugerrand benefactors, and urged South Africans to follow their example.

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