Gold Price Argentina
Argentina is known for many things, including beef, its scenic beauty and gold mining, among others. Argentina is one of South America’s largest producers of gold, and it is South America’s second largest country by area.
Generally speaking, it is the western area of the nation, bordering Chile, that has the highest concentrations of gold. Large amounts of placer gold can be found in streams and rivers of the Andes Mountains, and the region’s gold deposits may be not have yet been mined to their full potential. In addition to gold, the Andes Mountains are also full of copper, silver, oil, lithium and zinc. Interestingly, Argentina’s name is derived from the Latin word “argentum” which means silver.
Argentina’s mining industry saw some major change after revising its mining laws in 1993. With these changes, gold production rose from a paltry 36,000 ounces to 1 million + ounces. With more mines coming online, production is significantly higher today. Most large scale mining operations in Argentina are located in the Santa Cruz and San Juan provinces.
The official currency of Argentina is the Argentine Peso. The Argentine Peso is preceded by a $ sign, and each peso can be subdivided into 100 smaller units known as centavos. The peso is issued by The Central Bank of the Republic of Argentina.
Gold may be purchased in Argentina in the same manner as anywhere else. Gold coins or bars may be purchased from local coin shops or dealers. Gold coin and bullion may also be purchased from online dealers.
Certain Argentinian gold coins may be collectible. The 1882-1889 Argentina Gold 5 Pesos Coin is a great example. This 19th century gold coin contains .2334 ounces actual gold weight and has a face value of 5 pesos. The obverse features a bust of Liberty wearing a Phrygian cap, while the reverse features a rendition of the Argentine coat of arms. These gold coins were minted for a short time at The Buenos Aires Ming and various other mints.
This gold coin from Argentina can make an excellent addition to any portfolio or coin collection. Due to their limited mintages, these coins may also be considered collectible and could potentially see rising premiums as they age further. They can be found in extra fine condition or better, although lower grades may also be seen as well. Coins in better overall condition may be more expensive than coins in lower condition, and may potentially provide a better overall value.
The official mint of Argentina is the Casa de Moneda de la Republica Argentina. The mint is controlled by the Argentine Government and is part of the Ministry of Economy. The mint was opened on February 14th, 1881. It is headquartered in Buenos Aires and produces legal tender coins and banknotes. It also produces various medals as well as security prints such as passports and postage stamps. Since 1992, the mint has printed Argentina’s official currency, the peso.