Wednesday, 21st May 2008 (708 views)

South African gold coins have been used to purchase a $1 million property in Sarasota, Florida, according to a report.

Local realtor Kim Ogilvie said the closure of this particular purchase was slightly different as the purchaser arrived with a briefcase full of Krugerrands.

This revealed the extent to which property buyers would go to get their hands on a well-priced house, the realtor told the Herald Tribune.

"I represented the seller and [was] happy to complete the transaction in whatever form they wished to use."

The newspaper suggested there is a big push for international buyers in the US but in this case both parties were American.

The attendance of briefcases at these deals normally ends in cash being handed over rather than foreign gold coins, it added.

Krugerrands were first minted in 1967 and were intended to help the flagging South African economy. They are tenderable at the market value of their face gold content.

 

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