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Produced by the South African Mint, The Krugerrand was first conceived as a method of strengthening the South African gold market. On the face of the coin, you’ll find a profile of Paul Kruger, a former president of the South African Republic. The tail of the coin depicts a springbok, a deer-like animal synonymous with South Africa. The name is derived from combining Kruger’s name with the word “rand,” which is a South African currency. In terms of purity, it doesn’t get much better than an authentic Krugerrand. The coin itself is 22 karat gold (91% pure), with the remaining weight coming from copper. Copper is very durable and gives the Krugerrand an orange hue, not unlike crown gold. All Krugerrands (excluding smaller denominations that came later) have the same dimensions and weight — this makes them ideal as a currency. The mint responsible for Krugerrands initially designed them with private ownership in mind, though their efficacy as a currency eventually led to the unprecedented. By the late 70’s and during the bulk of 1980, Krugerrands made up 90% or more of the world’s gold coin market. They were serialized and made acceptable as a form of legal tender. Countries all over the world took interest.
Thinking of investing in precious metals? As always do your research before making a final purchase. Should you decide to go with Bullion Trading LLC, know that you will be in good hands!