Largest U.S. Currency Firm Suspends Krugerrand Sale
Deak-Perera, the nation’s largest currency firm, suspended the sale of South African krugerrand coins because of that country’s policy of apartheid, a spokeswoman for the company said today.
Deak-Perera stopped selling the one-ounce gold coins, which cost about $337, to consumers in the United States on Thursday, spokeswoman Jerri Eskow said. She said the company will still buy back the coins and resell them to exporters.
Deak-Perera will not sell the krugerrands “until the matter is resolved” in Congress.
A bill to ban the importation of the coins is in the conference committee. The House has passed the proposed legislation, and the Senate is expected to vote on it in September.
Eskow would not say how much the company earns from the sale of the coins, but she said thousands buy them every year. She said Deak-Perera is believed to be the largest seller of krugerrands in the United States.
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