Crosswords1 min ago
Gold coins
2 Answers
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!
Am hopeless at maths.....can anyone works this out!
Answers
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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
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
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
http://www.taxfreegold.co.uk/wesellkrugers.htm l
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