Buy and Sell South African Kruggerands

SOUTH AFRICAN GOLD KRUGERRANDS

AVAILABLE IN 1 OZ, 1/2 OZ, 1/4 OZ, AND 1/10 OZ.

The 1 oz Gold Krugerrand Coin was first minted on July 3, 1967, and was the only gold bullion coin available in the market for many years. This harbinger bullion coin was minted in 22-karat gold (.9167 fine) by the South African Mint Company. Alloyed with copper for special wear-resistance, this gold coin has a beautiful rose-tinted hue. Unlike most national minted gold bullion coins, Krugerrands, have never had a face value or denomination because their value was linked directly to the daily gold price. The 1oz Gold Krugerrand is perhaps still the most widely owned and actively traded gold bullion coins overall.

The history of the South African Mint goes back to the opening of the first state mint in Pretoria in 1892. Production began when South Africa’s annual gold mine production averaged nearly three-quarters (75%) of total western world gold production. The promotion of physical gold bullion was considered vital to South Africa’s gold industry. Especially after 1971, physical gold trading became more vital following the final collapse of the Bretton Woods Agreement effectively ending the international convertibility of US dollars into physical gold bullion. The current South African Mint came into being in 1941 when the South African government took over the Pretoria branch of the Royal Mint.

In 1980 the fractional Gold Krugerrand (½ oz, ¼ oz and 1/10 oz) were added to the coin mintage to assist smaller more affordable price per coin purchases.

Then as well as now, the gold vehicle many investors select remains the 1oz Gold Krugerrand. In the 1960s the Gold Krugerrand was developed by the Chamber of Mines of South Africa, the South African Reserve Bank, and the South African Mint to help boost gold demand around the world. This spectacular coin was the world’s first troy ounce-denominated gold bullion coin. The Gold Krugerrand coin is legal tender in South Africa, it was never struck with a face value. This was deliberately done to better relate the value of each 1 oz Gold Krugerrand coin directly to the world’s fluctuating gold spot price. 2017 marked the 50th anniversary of the world-famous Gold Krugerrand Coin.

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Krugerrand Gold Coin History

The South African Krugerrand is the most widely owned gold bullion coin in the world, representing 46 million ounces since its introduction in 1967. The purpose of the original issue was to encourage individual ownership of gold, and it must be said that this objective has clearly been met by the Krugerrand. The coins were intended to be used as currency in South Africa, and as such are made of a durable 22k (.9167) alloy of gold and copper. This alloy, known to historians as crown gold due to its use in English gold sovereigns, gives the coins their distinctive rich color and grants them a durability that bullion coins of higher purity often lack.

The Krugerrand uniquely has no stated face value: instead, its legal tender value is the bullion value of its gold at the current market price. South African Krugerrands are available in the following denominations: one troy ounce of pure gold, measuring 32.77mm in diameter; one half-ounce, measuring 27.07mm in diameter; one quarter-ounce, measuring 22.06mm in diameter; and, finally, one tenth-ounce, measuring 16.55mm in diameter. The Krugerrand takes its name from the man whose portrait occupies the obverse of the coin: Paul Kruger, the last president of the former South African Republic. The reverse depicts a springbok antelope, one of South Africa’s national symbols.

The South Africa Krugerrand 1/10 oz gold coin features Paul Kruger and the Springbok antelope. The South Africa Krugerrand 1/10 oz gold coin quickly became popular because of its 1/10 oz size made it easy to measure its value.

In 1967 the South African Gold Krugerrand 1 oz was an overnight success because it moved directly with the price of gold and its 1 oz size made for easy valuation. In 1980 smaller sizes were added the ½ oz gold Krugerrand coin, the ¼ Krugerrand gold coin, and the 1/10 oz Krugerrand gold coin. These coins are so popular that by 1980 the Krugerrand accounted for 90% of the global gold coin market.

Obverse: Showcases a left facing effigy of Paul Kruger who was South Africa’s first and only president as well as “South Africa” in Afrikaans and English.

Reverse: Features the national animal of South Africa, the Springbok antelope prancing through a field along with its purity and year struck.

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Buy and Sell South African Kruggerands

SOUTH AFRICAN GOLD KRUGERRANDS

AVAILABLE IN 1 OZ, 1/2 OZ, 1/4 OZ, AND 1/10 OZ.

Selling South African Kruggerand Gold Coins

Krugerrand Gold Coin History

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