South African Reserve Bank says platinum coin concept not viable

June 12, 2017

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The South African Reserve Bank (SARB) has no intention of mandating the South African Mint to produce a platinum coin to be marketed along the lines of the successful Krugerrand gold coin, revealing that feasibility studies have shown the concept to be unviable. Deputy governor Francois Groepe confirmed that the platinum industry had approached the bank on several occasions to assess the viability of a platinum coin, as well as to include the metal in the bank’s gold and foreign exchange reserves calculation.

Category: General