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The South African Krugerrand Gold Coin - Quick Stats

22 Mar 2019 - Quick Coin Facts

 

Quick Factsheet on the South African Kruggerrand Gold Coins

The name of the South African Kruggerrand Gold Coins was inspired by Paul Kruger, the former president of South Africa and the word ‘rand’ which is the name of the South African Currency as of today. When the coin was developed, its main purpose was to Market South African gold. Currently, South Africa has over 30% of the World’s Gold Reserves making it second to none in terms of gold. This explains the high value of the South African Krugerrand Gold Coin.

Besides the above, the South African Krugerrand Gold Coin is undoubtedly the most valuable gold coin in the world. Back in 1980, at its peak, the Krugerrand accounted for over 90% of the gold coin market globally. The number has decreased through the years as other nations introduced their own gold coins but nevertheless, the Krugerrand is still a valuable and precious piece of metal definitely worth owning.

Buy Gold Krugerrands

Brief History and Quick Facts on the South African Krugerrand Gold Coins

Type of Coins

The Krugerrand was initially created to dually serve as a currency as well as to market South Africa’s gold to other countries, particularly those in the Western World. However, nowadays, the coin is now considered a Bullion Investment and numismatic coin. A limited edition of proof Kruggerrand is also produced by the South African Mint Company.

Mintage of the South African Krugerrand Coins

The South African Mint Company, the company responsible for minting the Kruggerrand Coins was formed in 1966. In 1967, the first Krugerrand Gold Coins were minted and have been minted annually since then.

Weights and Denominations of the South African Krugerrand Gold Coins

The South African Krugerrand comes in four denominations namely, the 1 Oz Krugerrand Gold coin, the ½ Oz Krugerrand Gold coin, the ¼ Oz Krugerrand Gold coin and the 1/10 Oz Krugerrand gold. These denominations are minted using a gold alloy that contains 22 Karats of 91.67% pure gold. The face value of the 1 Oz South African Kruggerrand in US$ terms is $1100. This makes these coins the most valuable bullion type gold investments in the world.

Coin Design

Front Design

The design of the Kruggerrand has not been changed since their initial year of release in 1967. On the front is a portrait of Paul Kruger, the first President of South Africa who led the country from 1883 to 1900. The coin was made in his which explain the presence of his portrait on the front and its name, “The Krugerrand”. Besides Kruger’s Portrait is the name of the country inscribed in Afrikaans as well as the English Language?

Rear Design

On the back of the coin is an engraving of the Springbok, South Africa’s main National Symbol and animal. The design on the back is attributed to Coert Steynberg, who was one of South Africa’s greatest sculptures. Before appearing on the South African Krugerrand Coin, the design was originally on the five shilling coin.

Brief History of the South African Krugerrand Gold Coins

The South African Krugerrand were idealized back in 1966 and first minted in 1967. The goal of the South African Minting Company was to generate interest for South African Gold. Between the years 1974 and 1985, the United States is estimated to have imported over 20 million Gold Krugerrand Coins which created massive demand for them. This drove other countries, including the US to begin minting their own Gold Coins. During the late ’80s, South Africa faced a hurdle in trying to get the coin to the West. Apartheid, which was the system of government in the country resulted in many Western Countries imposing sanctions on South Africa resulting in many of these countries restricting imports of the Krugerrand. The sanctions ended with the end of apartheid. As of today, over 50 million Kruggerrands have been sold.

Why Buy the South African Krugerrand Gold Coins

The value of the 1oz denomination of the South African Krugerrand is $1100 USD. This means the Kruggerrands are valued more than any other competing gold coins on the market. The parent nation where these coins originate owns 30% of the World’s Gold Reserves. These facts alone are enough to prove that the South African Krugerrands are a valuable store of capital investment and worth buying. It’s impossible for them to lose value in a lifetime.

Gold Content of the South African Krugerrands

The Krugerrand contains 91.67% of 22-Karat Gold. The gold used is an alloy as it is blended with 8.33% copper which gives the coins their resultant orange shine. One thing to note is that the copper used in these coins isn’t ordinary. Historically, the alloy is known as crown gold, used to decorate and furnish British Gold Sovereigns.

Other Specs on the South African Krugerrand Gold Coins

The 1oz denomination of the South African Krugerrand Gold coin weighs 33.930 grams consisting of 91.67% 22-Karat Pure gold and 8.33% copper. The coin's diameter and thickness are 32.77 and 2.84 mm respectively.

If you are looking for a great investment to keep your future safe and secure, then consider investing in the South African Krugerrand Gold Coins.

 

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