The South African Krugerrand is the most extensively owned gold bullion coin in the world, representing 46 million ounces since its introduction in 1967. The function of the original issue was to encourage individual ownership of gold, and it must be said that this goal has actually plainly been met by the Krugerrand. The coins were planned to be utilized as currency in South Africa, and as such are made of a long lasting 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 unique rich color and grants them a toughness that bullion coins of higher pureness often lack.
At a time when no other mint in the world was striking a gold bullion coin, the South African Mint presented the Gold Krugerrand as a method to export its large gold and motivate private financial investment in gold bullion items.
Debuting in 1967, the Krugerrand would eventually concern represent more than 90% of the international gold coin marketplace. It would stand alone as the premier gold coin of the world until 1979 when the Royal Canadian Mint launched the Canadian Gold Maple Leaf.
The downfall southern African Krugerrand is the outcome of political maneuvering and not absence of quality in the item. South Africa’s apartheid system, which separated black and white South Africans, led to a Western boycott on the import of South African Krugerrands in the late 1970s and 1980s.
Even while it was banned for import in the West, an estimated 22 million Krugerrands went into the United States alone between 1974 and 1985. Today it remains as an exceptional example of gold bullion coin craftsmanship.
South Africa started producing fractional Gold Krugerrands to permit more people the ability to buy Gold. Their basic, the same design is acknowledged and valued around the globe.
Coin Highlights:
- Contains 1/2 oz of Gold.
- Multiples of 15 are packaged in mint tubes. All other coins will remain in protective packaging.
- Obverse: Classically portrays the similarity of Paul Kruger, South Africa’s first and only president, together with “South Africa” in Afrikaans and English.
- Reverse: Springbok antelope, the national animal of South Africa, along with the year of minting and gold weight.
- Minted by the South African Mint.
Composition and Design
Krugerrands gold coins are created to be resilient. The gold is alloyed with copper to include firmness – the gold purity is 22k or 91.67%. Nevertheless, each coin is marked with its net gold weight of 1/2 troy oz. The gross weight of the coin, including the copper, is around 0.54 troy oz.
This South African coin’s pigmentation is a somewhat darker shade than pure gold coins or coins, such as the American Eagle, which are alloyed with silver. Each half-ounce coin weighs 16.97 grams (including 15.55 grams pure gold and 1.23 grams copper). The South African Krugerrand coin value is figured out by its gold material plus a premium that is dictated by market conditions. (1/2 oz krugerrand).
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