The South African Krugerrand is the official gold bullion coin of South Africa, which is the first gold bullion coin in the world minted for investment. The Krugerrand coins were marketed so successfully that they possessed an 89% market share of the entire gold bullion coin industry in the early 1980s. Nowadays, the Krugerrand is a popular coin among the investors and collectors.
South African Krugerrand
History of South African Krugerrand
The South African Krugerrand was first introduced in 1967 minted by the South African Mint to offer private individuals an opportunity to own gold. During the 1970s with the great bull market in gold, the Krugerrand became the first selection for investors in the world. Between 1974 and 1985, an estimated 22 million gold Krugerrand coins were imported into the U.S. alone. During the 1970s and 1980s, the Krugerrand was suffered from the economic sanctions to prohibit South Africa from selling Krugerrand in the United States, however, that didn't affect the trading Krugerrand that were already in the U.S. The sanction was ended in 1994. In 1980, the South Africa introduced three smaller coins (1/2 oz, 1/4 oz, and 1/10 oz). By 2008, the Krugerrand coins have been sold with 46 million ounces of gold.
Design of South African Krugerrand
The obverse of the South Africa Krugerrand is the face of Boer statesman Paul Kruger, four-term president of the old South African Republic. The name of gold coin is a compound of "Kruger" (the man depicted on the obverse) and "rand", the South African unit of currency. The reverse of Krugerrand is a springbok in the filed, one of the national symbols of the South Africa, which is designed by Coert Steynberg. This design was previously featured on the South African five shilling coin. The country name of "South Africa" and the gold content are inscribed in both Afrikaans and English on the gold coin.
Face Value & Market Value
The Krugerrand is struck with no face value because it is primarily minted for trading outside South Africa. The market value of Krugerrand is changed based on the price of the world gold market. Each South African Krugerrand's price is the gold spot price of current market plus a premium per coin.
Provided in 1 oz, 1/2 oz, 1/4 oz and 1/10 oz denominations, those coins are 22 karat including 91.67% gold and 8.33% Copper which gives the Krugerrand a more orange appearance than silver-alloyed gold coins. The gold Krugerrand coins are harder and more durable, so they can resist scratches and dents. Below lists detailed information of four sizes specification:
|ROUND||FACE VALUE||DIAMETER||THICKNESS||GOLD CONTENT||TOTAL WEIGHT||GOLD FINENESS|
|1/10 oz||None||16.55mm||1.350mm||0.1000 oz||0.1091 oz||916.7|
|1/4 oz||None||20.06mm||1.888mm||0.2500 oz||0.2727 oz||916.7|
|1/2 oz||None||27.07mm||2.215 mm||0.5000 oz||0.5454 oz||916.7|
|1 oz||None||32.77mm||2.840mm||1.0000 oz||1.0909 oz||916.7|
Gold Price Commentary
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