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-South Africa finds anomalies in the production of special edition coins.

Global Banking News-April 25, 2012--South Africa finds anomalies in the production of special edition coins(C)2012 ENPublishing -

Global Banking News - 25 April 2012

The central bank of South Africa has announced that it has found anomalies in the production of Krugerrands, coins produced in small batches for collectors.

After suspending mint managers following a probe, the central bank said that some coins were minted using less gold than they should have carried. Many Krugerrands were found to be up to 5 percent short on gold.

The central bank had said in a statement last year that it was launching the probe and suspending the mint's managing director and its general manager after finding 'certain technical issues within the operations of the SA Mint Company.'

The bank had focussed the investigation on production between April and May last year.

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Publication:Global Banking News (GBN)
Geographic Code:6SOUT
Date:Apr 25, 2012
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