History of the Britannia and Krugerrand coins

Investment coins, also known as bullion coins, are minted in precious metals, usually gold and silver. There are several gold investment coins available on the market, but the Britannia and Krugerrand are among the most popular and coveted in the world. We explain their history and what makes them special.

 

Krugerrand

The Krugerrand was first minted on the 3rd of July 1967 to market the vast amount of gold produced in South Africa around the world. The Krugerrand was a pioneer in establishing the new concept of the one-ounce bullion coin measure, a standard that is now recognised worldwide. It was also the first legal tender gold coin issued after World War II, in large part laying the foundation for the creation of gold coins later issued by other countries.

The obverse of the coin features the bust of Paul Kruger, President of the Republic of South Africa from 9 May 1883 to 31 May 1902. His surname, Kruger, and the rand, the South African unit of currency, are combined to give the coin its name. A gazelle, the national animal of South Africa, is engraved on the reverse, beneath which is the legend: “one ounce of fine gold”, in English and Afrikaans, a Dutch-derived language spoken mainly in South Africa.

Although Krugerrand coins are 22-carat gold, i.e. 91.67% pure, unlike most one-ounce coins issued by other countries, which are usually 99.99% pure gold, 24 carats, the Krugerrand compensates for this lower grade with more weight (1.09 ounces).

It is an extremely popular coin that attracts many gold investors. Because of this, the Krugerrand usually commands a lower premium over the price of gold than other 1-ounce coins or, indeed, any gold product of similar size.

 

Britannia

The gold Britannia was born in Europe in 1987 and was the first gold investment coin to be minted in all four weights (1, ½, ¼, and 1/10 of an ounce of gold). It gets its name from Latin, when in the 2nd century a female figure, wielding a spear in one hand and a shield in the other, appeared on coins minted in southern Britain during the occupation of the Roman Empire.

This design remained the same until 2000, with the obverse of the coin showing the image of Queen Elizabeth II and the face value in sterling, a design common to all Commonwealth gold coins. Subsequently, The British Royal Mint introduced a new design of the female figure for the odd years, keeping the previous one for even years. Further variations with the image accompanied by a lion, or the seated Britannia, were minted in later issues.

The marketing of this 24-carat gold coin is as popular in the UK as it is in the rest of the world. Most issues of Britannia coins are readily available, but buying a Britannia from a specific year can be quite expensive due to scarcity. Therefore, buying a current issue in the hope of seeing the value increase beyond the possible upward fluctuation of gold is a factor that cannot be ruled out.

 

Up to now, with Preciosos 11Onze, it has been possible to purchase gold bullion. From now on, we also offer the option of buying Krugerrand and Britannia gold coins. Gift gold, for tomorrow’s future.

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How can we transform the economy? What does Catalonia need to change the market in its favour? At 11Onze we have gathered together 11 ideas that the businessman and former secretary of Cecot, David Garrofé, outlined in the conversation we had on the 11Onze Podcast. 

 

According to Garrofé, with more than 30 years of experience in SMEs and in the Catalan economic ecosystem, from 2022 onwards it is of paramount importance to put the community at the centre, it is more necessary than ever to reform public administration and it is now an obligation without excuses to demand the return of the Catalonia-Spain fiscal deficit. In addition, the businessman gives us many other pieces of advice, which we list below.

  1. Put the community at the centre. “It is too difficult to change what is more than obvious. That is why I am in love with the capacity of civil society to change things. When you have been on both sides, you realise that as long as civil society is organised, it is capable of great things.”
  2. Making the administration more flexible. “The principle that a politician is a public servant has been lost. The first thing a servant does is listen, then see how to solve the problem and, finally, generate consensus and the conditions to transform”. 
  3. Revolt the civil service. “We need to change the framework of the civil service, so that it is professionalised and there is great accountability.”
  4. Demand accountability. “Who negotiates collective agreements in the civil service? A four-year temp, the politician. He uses the first year to understand where he is, the last year is electoral. He has only two years left, and if he gets into a bad situation with the team he wants to reform, what does he do? He doesn’t touch anything. The administration does not have an entrepreneur who negotiates its future, who has a long-term project. Changes also have to come from within.” 
  5. Not to fall into conformism. “Vallès Oriental and Occidental are the most powerful industrial engine in southern Europe, but we cannot fall into conformism, because the engines go to waste. We are competing with China, Vietnam, and the United States.”
  6. Promoting innovation. “The large corporations that dominate the world are financed with public funds. The return on every euro invested in R&D is spectacular. It has a multiplier effect.”
  7. Endowing companies. “Is it normal that Catalonia, Spain’s leading industrial power, has a smaller budget for the Department of Enterprise than for Culture, which is not exactly high?.”
  8. Demand the return of the fiscal deficit. “There are two things to reproach the Spanish state for. The first, which is eternal, is that Catalonia is poorly financed. And the second is the lack of investment in infrastructure. This is extremely serious.”
  9. A different management of Next Generation funds. “Madrid will decide everything. Catalonia will only have a 10% chance of deciding anything from the Next Generation funds. This is not transformative.”
  10. Anticipate the coming global crisis. “What are the central banks of China and India doing? They are buying gold quietly. They are getting the dollars out of their hands. Because the real value of the dollar is not what we are told. This is such a huge anomaly that it will have serious repercussions, the first of which is inflation.”
  11. Protecting savings. “What is clear is that the paper currency will be devalued more and more, because the debt we have generated is so large that there will be no way to reverse it. And what will maintain the value then? The assets of a lifetime, gold.”

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

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The COP27 summit has highlighted the importance of a sustainable economy. In this episode of Energia, Eduard Berraondo talks to Laura Bunyol, 11Onze agent, about what is meant by a sustainable economy and good resource management.

 

It is no secret that the current socio-economic model, based on unlimited growth in a society that consumes resources at a higher rate than nature generates, is unsustainable. The development of policies aimed at energy transition, promoting the use of renewable energy sources, has moved from rhetoric to reality.

Even so, there is still a long way to go, whether it is facilitating the transformation of the production model of existing companies, creating new businesses through the promotion of sustainable activities, or investing in innovation and education to spur this process of change.

The importance of taking care of economic sustainability

As Bunyol states, “efficient resource management is essential in order not to waste our planet’s natural resources“, i.e. the pattern of economic growth has to make rational use of natural resources, reconciling social and environmental aspects with a productive economy.

The revolution of the financial system based on companies using new technologies will play a major role in this energy transformation. Society is more aware of this need to “make a paradigm shift towards a circular economy model“, and continues, “at 11Onze we want to be more sustainable, create a community and work with friendly companies that share our users’ interest in caring for the environment”.

In this context, 11Onze Essentials is a good example of how you can offer ecological and economical alternatives to basic products for everyday use, committing to a sustainable lifestyle to meet the needs of our community.

 

If you want to discover how to drink the best water, save money and help the planet, go to 11Onze Essentials.

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11Onze is launching the sale of gold coins as gifts. Buyers will receive the coins, an exclusive Christmas postcard and a gold note as proof of purchase. Gold, for tomorrow’s future.

 

Christmas holidays are a time to think of others and wish them well. In many Catalan households, this wish translates into an envelope of money for tomorrow’s future. In other words, fathers, mothers, grandfathers or grandmothers are in the habit of giving money as a gift so that it will be helpful to their children or grandchildren in the future. But does this make sense right now? With rampant inflation, a depreciating euro and uncertainty about the future of fiat currencies, money does not seem as valuable or as secure a gift as it did a few years ago.

For this reason, at 11Onze we thought that this role could be played by gold. Gold is the best option if you want to give a gift that will not lose value over time and can be converted into cash quickly. For tomorrow’s future, give gold as a gift.

Until now, with Preciosos 11Onze you could buy gold bullion for as little as €3,000. We now offer the option of buying gold coins, starting at €220. For 11Onze members with an El Canut account, shipping is free. For all other buyers, it costs €9.99.

How are they delivered?

If you want to buy gold coins as a gift, you have to fill in this form and an agent will contact you. Once everything is ready, you will pay directly by credit card. At home, you will receive a Christmas card and a personalised gold ticket that certifies your gold purchase. We will send it all to you, along with the coins. The campaign runs from 1 December to 6 January, but we recommend ordering as early as possible to ensure delivery of the coins during the festive season. In the event that the stock of coins runs out, the gold banknote will be sent first, followed by the coins.

 

The magic of Christmas

The 11Onze gold banknote connects directly with the fantasy created by Roald Dahl in the novel ‘Charlie and the chocolate factory‘. There, children who found the golden ticket inside the chocolate bar were invited to visit the chocolate factory of the bizarre Willy Wonka. The 11Onze gold ticket will not be used to take any children to meet the Oompa Loompa, but it will have a function that we believe is very valuable: it will ensure that they have gold for tomorrow’s future.

I’m interested!

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

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From 7 pm, we will be talking to Susana Rodríguez Urgel about cryptocurrencies, CBDC and the digitalisation of our money. You will be able to watch it live from this article.

It is a topic of great interest. The audience allowance for the ‘Que no faltin!’ on crypto-economics is full, but you will be able to follow the conversation live on this player, from 19:00 on Tuesday 22 November.

You can leave questions in the comments of this article, and we will try to answer them live.

If you want to participate in the next ‘Que no faltin!’ you can book your place by writing to [email protected]. It will take place on 13 December at 7pm, and we will be talking about the labour market of the future with the entrepreneur David Garrofé.

 

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One of the founding objectives of 11Onze is to offer tools so that our community can reduce costs by managing their money more effectively. Some might think that this is just a marketing slogan, a nice phrase that sounds good and that’s it. Therefore, we have contacted some of our 11Onze Segurs customers to let their testimonials speak for themselves.

 

Offering a good product at a reasonable price is not an easy job. At 11Onze Segurs we analysed the different options provided by the home insurance market for months, as well as carrying out studies of insurance costs through surveys of members of our community who are homeowners.

The objective was clear: to be able to offer our clients the best home insurance, comparing coverage from various providers to find the best option that adapted to the particular circumstances of each one, and at a more than competitive price, from €5 per month.

But the price is not everything. From the outset, it was clear to us that we had to reduce the amount of paperwork and small print that accompanies any insurance policy. Simplicity and transparency in the scope of the cover we are taking out give us more peace of mind and avoid last-minute surprises.

“Very happy with the decision to change insurance. I’m saving €55 on my premium, which will help me cover other expenses, as everything is getting more expensive!”

The result of a job well done

The effort has been worth it, and we believe we have succeeded. At 11Onze Segurs you can take out and manage your home insurance from your mobile phone, streamlining procedures, paying a monthly or annual fee, with no permanence, between 15% and 20% cheaper than with traditional insurance companies, and without forgetting our commitment to society as a certified B Corp company.

“I save €350 a year, which I will reinvest in 11Onze!”

But it is not just us telling you, Vincenç Aguilà, from Sabadell, explains that he was clearly overpaying for his home insurance. By switching to 11Onze Segurs he saves €350 a year. And when we asked him what he intended to do with the money he saved: “Reinvest it in 11Onze!

Xavier-Tornos

“With the €100 I’ve saved I’ve bought a new Bluetooth speaker!”

From Roquetes, Gemma Monllau explains that she is “delighted with the decision to change insurance”, she has saved €55 in the policy fee, which will help her to cover “other expenses, as everything is getting more expensive!“. Xavier Tornos, from Terrassa, had no doubts, with the €100 he has saved by switching to 11Onze Segurs, he has bought “a new Bluetooth speaker!

 

If you want to discover fair insurance for your home and for society, check 11Onze Segurs.

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Last week we premiered the new series of financial education podcasts where the audience interacts with top-level speakers. In tomorrow’s ‘Que no faltin!’ we will talk about crypto-economics with Susana Rodríguez Urgel, join us and ask whatever you like!

 

James Sène, president of 11Onze starred in the first episode of ‘Que no faltin!’ talking about money as the conversion of our time into capital. Moderated by Toni Mata, the debate was broadcast live on La Plaça de 11Onze. Here are some excerpts, you can watch the whole episode here.

For the second episode of this video-podcast on financial education we have invited Susana Rodríguez Urgel, expert in marketing and crypto-economics, to talk about the digitalisation of our money.

 

Do you want to participate?

For the crypotoeconomics chapter, we are not admitting any more audience members because the capacity is full. You will be able to follow the video-podcast live, at 19 h on Tuesday, November 22nd, from a link that we will publish in La Plaça! And you will be able to ask questions by leaving a comment.

If you want to participate in the next episode, you can apply for your place by writing to [email protected]. It will be on December 13 at 19 h and we will talk about the labor market of the future with the entrepreneur David Garrofé.

 

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Mireia Cano, team leader at 11Onze, visits ‘Energia’, the new programme of ‘Canal 4 Televisió’ presented by Eduard Berraondo, to explain what the ‘natural law’ is and how it can help us to change our consumption habits to be more sustainable.

 

There are certain ethical and moral values that are intrinsic to our nature as human beings. They are the inheritance of behavioural patterns acquired during the process of evolution, which facilitated coexistence in the community through actions that favoured the common good. These values that characterise us have endured over time and are known as natural law.

Yet our behaviour and the choices we make do not always follow this pattern, nor are they always in harmony with the natural environment around us. Thus, the evolution of our consumption habits is often governed by the economic context, cultural norms, and social currents of the moment.

From words to deeds

Mireia Cano proposes a reflection on whether the decisions we make as consumers in our daily lives are in accordance with this natural law: “Are we really making the decisions we want according to our criteria? Are our consumption decisions conscious?

Many people would agree that it is preferable to live in a society and economic system that takes into account environmental respect, the dignity of people or the distribution of wealth, but do we take all this into account when we spend our money buying products or services from certain businesses? As Cano points out, “do the businesses we are enriching contribute to the world we want?”.

 

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In the last year, negative news has been accumulating in the cryptoasset market. After the bankruptcy of crypto-asset platform FTX and the loss of almost three quarters of the value of bitcoin in a year, the future of cryptocurrencies seems more in doubt than ever.

 

The Super Bowl is the world’s most expensive advertising showcase. In its last edition, held in February, nearly 7 million dollars were paid for a 30-second advert, something within the reach of very few companies. One of them was FTX, the world’s third-largest crypto asset platform at the time. Its ad compared cryptocurrencies to some of mankind’s greatest inventions, presented the company as “a safe and easy way” to access this market and ridiculed the sceptics.

Just a few months later, FTX filed for bankruptcy and threatens to leave more than a million people around the world without their money. Founder Sam Bankman-Fried’s empire collapsed in just one week.

Following the sudden drop in the price of the FTX token in early November, Bankman-Fried requested a bailout from Binance, the world’s largest digital asset exchange platform. Although Binance initially agreed to help him, a few hours later it backed out, citing mismanagement of funds and other irregularities. On 11 November, FTX had no choice but to announce in a tweet the filing for bankruptcy proceedings and the resignation of Sam Bankman-Fried as CEO.

 

Possible contagion

As with many cryptocurrency companies, FTX’s house of cards was built on expectations of revaluation. When investor confidence crumbles, nothing can stop a catastrophic spiral that eventually takes down the company, which in FTX’s case had reached a valuation of $32 billion at the beginning of the year.

Given its size, the aftershocks of FTX’s collapse are expected to be prolonged and devastating. The first victim could be the Crypto.com platform, which in recent months had already made massive layoffs due to the turbulent situation in the crypto-asset market. Its token Cronos has lost more than half of its value in less than a week.

Sources indicate that the platform deposited more than $1 billion in FTX, of which it was only able to recover about $100 million. However, Crypto.com’s CEO has denied this on Twitter, claiming that its exposure to FTX is less than $10 million. The truth is that his message has failed to calm the markets, which continue to fear the collapse of this platform.

 

The risk of a new “crypto-winter”

The collapse of FTX and the crisis at Crypto.com come against a backdrop of doubts about the future of cryptocurrencies. After reaching a valuation of 58,358 euros in November 2021, the successive falls of what became known as the “crypto-winter” and the uncertainty of the last few days have pushed bitcoin below 16,000 euros, which means it has lost almost three-quarters of its value in a year.

As we explained in the article “Cryptocurrencies, a highly volatile asset”, bitcoin is no exception. Volatility has also affected other cryptocurrencies in recent months. For example, Ether lost two-thirds of its value between April and June, falling from more than €3,000 to less than €1,000, before rising back above €1,900 in mid-August and dropping below €1,200 in recent days.

Terra Luna, the most talked-about case until the FTX debacle, went from being worth more than 80 euros at the beginning of May to being practically worthless in little more than a week. And yet it was a ‘stablecoin’, i.e. a cryptocurrency whose value is linked to that of another currency, commodity or financial instrument, which should provide more stability.

Although crypto-assets continue to have many enthusiasts, more and more portfolio managers assume that the structure of this market is too risky and the losses are too great. The notion of bitcoin as the new digital gold, a safe haven in turbulent times, has faded. As a result, many institutional investors are turning their backs on crypto-assets to increase their participation in theoretically safer markets, such as precious metals.

In any case, the current crisis in the cryptocurrency market reminds us of the importance of having a diversified portfolio to protect us from sharp falls in the valuation of any of our assets.

 

Session on cryptoeconomics

If you want to learn more about the crypto-assets market, on 22 November at La Plaça we will be hosting Susana Rodríguez Urgel, founder of The Digital Advisory Board, who will be speaking live about cryptoeconomics in the second chapter of “Que no faltin!” series.

This expert in cryptography and one of those responsible for “the commercial and digital transformation of Telefónica” more than a decade ago, as James Sène, president of 11Onze, pointed out, promises a provocative session open to debate. If you are interested in participating live to raise your doubts and questions, you can write to [email protected]

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Central banks’ digital currencies and our ‘virtual’ identity in the metaverse will play a pivotal role in the proposal to rebuild the global economic model that was put forward from the Davos economic forum. What consequences will this paradigm shift have for our lives? In a new Fintech Talks, James Sène, chairman and founder of 11Onze, explains the changes to come and gives us food for thought on how to deal with them.

 

Two lions crown the pillars at the foot of the stone-railed staircase leading to the main entrance of Villa Urània. The house is a tower surrounded by a garden in the Sarrià-Sant Gervasi district, which was bequeathed to Barcelona City Council by will by the astronomer Josep Comas y Solà. A neoclassical style space that has been reinvented combining tradition with modernity, and reconverted into a Japanese coffee shop, the Oyatsu Lab, is the ideal setting for a Fintech Talks that analyses what the restart of the current economic model will be like.

It was well into the evening when the audience began to fill the café. Unlike other events previously organised by 11Onze, this talk is thought of to be more relaxed, in small groups, to allow the conversation to flow between the audience and the speaker. Gemma Vallet, director of 11Onze District, is in charge of asking preliminary questions and moderating the debate.

Faced with the imminent economic recession, the first question is obvious: how did we get to this point? To begin with, Sène points out that 11Onze has been explaining and warning for a couple of years that the sovereign debt crisis of the states will lead us to a global crisis with major socio-economic consequences, “when private banks create money out of nothing, constantly, inflation is inevitable”.

Unlimited growth on a resource-constrained planet

The interaction with the audience does not take long to get started, and the conversation drifts towards neoclassical economic theory, which is necessary to understand the current economic model. The management of scarcity as a fundamental concept of the capitalist system has set a path focused on unlimited growth, which is totally unsustainable precisely because of the limited resources of our planet.

A new, community-based, mutualistic model, based on social networks, where most things are shared, is being imposed as a counterpart to the status quo that existed until a few years ago. We are facing a “transition from the old model, totally dominated by a few, to a new model that reaches more people and is decentralised,” says Sène.

He concludes that this change of model is inevitable, but that, at the same time, the actors who now dominate and direct the economy will do their best to perpetuate a system where people’s access to goods is restricted, thus ensuring the relevance of scarcity in the economic model.

A virtual and virtualised world

These are issues that are difficult to explain and hard to assimilate, but the president of 11Onze does not shrug his shoulders and proposes two ‘tips’ to understand what is happening: how the ecosystem works and the rules of the game. But first, he points out that we have to understand that we do not live in a virtual world, but in a virtualised world, i.e. “what happens in the digital world has a real impact on our lives, we are living in a totally virtualised world”.

The creation of central bank-controlled digital currencies (CBDCs) will be the basis on which the centralised financial system will survive, while the metaverse will play a key role in digitising our identities. Public interpellations point out that we may be too late to avoid a fait accompli, while Sène argues that financial information and education are essential resources for people to defend their freedoms.

The debate is wide open and goes on well past dinner time, the conversation was not only flowing, but transformed into a whole series of ideas that increase the collective intelligence of our community, and above all, encourages the learning that is so necessary for our financial sovereignty. Soon, we will publish this Fintech Talks on 11Onze TV from La Plaça.

 

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

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