Description
One Of The Most Popular Bullion Coins in History
South African Krugerrands have been produced since 1967. It is the world’s most common and popular 1 oz bullion gold coin, and it is an excellent way to invest in gold at a low cost.
About the Krugerrand Gold Coin
South Africa issued the first gold bullion coin in 1967 – the Krugerrand. The Krugerrand aided South Africa in selling massive amounts of gold extracted from deep mines near Johannesburg. Because it was simple to use and contained exactly one ounce of pure gold, the gold Krugerrand was the most popular way for people to buy gold bullion in the 1970s.
By 1980, more than 90% of all gold coins sold around the world were Krugerrands. They were the most popular choice for investors buying gold. During the 1980s and 1990s, however, Krugerrands became less popular because some western countries wouldn’t accept imports from South Africa as they were linked to the apartheid government. Most of these sanctions were removed in 1991 after the South African government took steps to end its apartheid policies.
In the early 20th Century, gold coins were not accepted as legal tender, but that changed when the Krugerrand was introduced – a legal tender coin created solely for the purpose of trading for its gold value and the low cost of producing and distributing it.
Even though Krugerrands are legal tender, they don’t have a face value. Instead, they are traded based on the price of gold at the time.
The South African Mint has made more than 48 million Krugerrands. The Krugerrand is made mostly of 22-carat gold (91.67%), with copper making up the other 8.33%. Each Krugerrand is 33.93 grams and has 1 ounce of real gold inside.
After 50 years of only making gold bullion coins, the South African Mint added silver coins to the series in 2017.
Features of the 1 oz Krugerrand Gold Coin
In 1967, a picture of Paul Kruger, who was President of the South African Republic for four terms, was put on the front of this coin.
On the back is a picture of a springbok, a type of antelope that lives in South Africa and is the country’s national symbol. The image was made by Coert Steynberg and was used on the back of the South African five shillings coin from 1947 to 1951 and from 1953 to 1959, as well as the 50 cents coin from 1961 to 1964. Both Afrikaans and English are used to write “South Africa” and the amount of gold is also written on the coin.
The South Africa Mint sells the coin in tubes with 10 or 15. Each coin is 32.7 mm in diameter and 2.83 mm thick. It is also available in 12 oz., 14 oz., and 1/10 oz. weights.
The 1 oz Krugerrand Gold Coin is distributed in uncirculated condition and arrive safely and securely. Shop today or contact our team if you have any questions.
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