Sale 1 oz Australian philharmonic silver coins as low as 5.44 above spot
Sale 1 oz Australian philharmonic silver coins as low as 5.44 above spot
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The gold Krugerrand coin is among the most popular gold coins sold today because it’s recognized for its superior quality and guaranteed weight, has great investment value, beautiful gold design, rich historical significance and it offers direct ownership of gold with no intermediary which lowers transaction cost.
In terms of gold Krugerrand coin, gold has been the refuge for investors and traders who are seeking to protect their wealth from erosion by inflationary forces. Gold is an effective hedge against future price rise as it retains its value over a long period. A gold krugerrand coin can then be considered as one option in diversifying your investment portfolio into gold products. It offers a direct way to invest in gold without having to go through the hassle of buying gold bars or raw gold itself, which are extremely heavy and difficult to keep safe.
This is attributed to it being legal tender in South Africa. It is also minted with reeded edges, which makes them easy to stack and handle. The one-ounce gold krugerrand coin has been widely accepted as the standard of international trade for gold bullion products around the world since 1967 when they were introduced into trading markets worldwide.
The South African Mint introduced gold Krugerrand in 1967. It is a gold bullion coin containing exactly an ounce of gold. The gold Krugerrand is 22-karat gold and weighs about 33.9 grams, which equals 1.097 troy ounces of gold (0.916 troy ounces of gold plus the weight of the minted coin). This makes it slightly heavier than the American Gold Eagle but lighter than many other gold bullion coins such as the Canadian Gold Maple Leaf or the Austrian Philharmonic.
Around 2 million Krugerrands are produced each year, although their precise number varies from year to year because not all of them are sold and some coins remain in storage at the mint. Currently, gold Krugerrands are the most popular gold bullion coins in the world because of their value and gold purity (containing 22 karats of gold).
For many years, South Africa was not a part of international gold markets. Unlike other countries that produce gold, such as the United States, Canada, or Australia, South Africa did not sell its gold through London but rather retained control of it for national use. The result was that gold’s international price could be significantly different from prices in South Africa.
In order to combat this situation, the government introduced a new version of its gold coin called “Krugerrand,” after Paul Kruger (1825–1904), the former president of the Transvaal Republic (an independent Boer state) that was established after the end of the Anglo-Boer War.
Krugerrands’ gold coins were minted in 1967, and gold exports began on March 27, 1968. South Africa’s gold Krugerrand was the first gold coin ever to be minted and placed into circulation by any country – a fact which quickly catapulted them into legendary status. They rapidly became known as “the people’s gold” because they were easily accessible to small investors for whom gold bullion had previously been unattainable due to its high value compared to other investments, such as stocks or bonds. Before this time gold only appealed mainly to collectors and jewelers, but this all changed when gold Krugerrands were introduced. Now gold could be bought by anyone, at any time, and gold prices soon became widely available around the world.
The obverse side of the South African krugerrand gold coin is based on Otto Schultz’s left-profile portrait of Paul Kruger, who is considered one of the most prominent figures in South African history. It is surrounded by “Suid-Afrika”, an Afrikaans term, and “South Africa” in English. Kruger later served as President and Vice President of the South African Republic. Krugerrand was named after him.
The reverse side features an image featuring a Springbok Antelope as the official symbol for South Africa’s modern Republic. This image depicts the antelope running across a field, with engravings of the year, weight, and metal content. Additionally, the name “Krugerrand” is included in this design field. This design was modernized by Coert Steynberg in 1984.
The bullion Gold Krugerrands, as well as any proof offering of South African coins, have one important design characteristic. Each side of the coin has serrations at the edges of its design field. These serrations would be 160 on the bullion-gold coin, and 220 on the proof coins if you counted them.
Krugerrands are durable. They are made of an alloy of copper and gold. The coins contain only 91.67% of the gold and 8.33% copper (22 karats). They are made to weigh slightly more than 1 ounce (1/11 ounces), so they have one troy ounce of pure gold.
Krugerrands are more scratch-resistant than pure gold bullion coins, due to their partially copper content. They are therefore so desirable and popular. Krugerrands have a slightly orange-hued appearance compared to pure gold bullion coins.
South African Krugerrand Gold Coins are available in the following sizes: 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz.
|Types||Fineness||Diameter||Thickness||Gross Weight||Gold Content|
|1 oz||22 carat 91.67%||32.6 mm||2.74 mm||1.0909 troy oz(33.93 grams)||1 troy oz(31.1035 grams)|
|1/2 oz||22 carat 91.67%||27.07 mm||2.22 mm||0.5984 troy oz(16.965 grams)||0.5000 troy oz(15.552 grams)|
|1/4 oz||22 carat 91.67%||22.06 mm||1.89 mm||0.2992 troy oz(8.482 grams)||0.2500 troy oz(7.776 grams)|
|1/10 oz||22 carat 91.67%||16.55 mm||1.35 mm||0.120 troy oz(3.393 grams)||0.100 troy oz(3.110 grams)|
If you are looking to buy gold Krugerrand coins then Bullion Trading LLC might be the first port of call. We have gold Krugerrands available for sale at the cheapest price online. View our gold Krugerrands catalogue or Gold Coins page before placing an order, as we carry many other gold bullion items in stock including gold bars and silver coins. For the best gold prices please take a look at our latest gold prices chart, which lists live gold pricing per ounce across all major currencies today.
If you have any questions about gold Krugerrand or our other products, please contact us at (212) 997-2520 and we will be happy to assist you. You can buy Krugerrand gold coins from Bullion Trading LLC anytime during our business hours, which are Mon – Thu 8:30 AM to 4 PM EST and FRI 8:30 – 1 PM EST.
Krugerrands were banned from importing in the United States in 1985, and many investors misinterpreted the restriction and believed that owning Krugerrands in the United States was prohibited. But now, the ban has been lifted, and it is entirely legal to hold Krugerrand Gold Coins.
The fake Krugerrands are yellower than real Krugerrands, and there will be many details missing on the reverse side of the counterfeit coin, like details not present in the tail, line missing from the springbok flank, etc.
The actual grade, or condition, of a Krugerrand, also influences its worth. An uncirculated coin will have a higher value than a circulating coin. Furthermore, the value of a Krugerrand varies depending on whether it is a bullion coin, a proof or non-proof edition, and whether it is a proof or non-proof edition.
Yes, to put it shortly. Gold is a "safe haven" investment, and Krugerrands are one of the most sought-after types of gold. Your money will undoubtedly appreciate if you invest in the commodity. It's helpful to know why gold is considered a safe investment to comprehend your investment’s safety better.