Curious about the Krugerrand? Find out more info about this South African gold coin here

Krugerrand is a South African gold coin that was created by their government to boost the country’s gold internationally. Another reason why the coin was created was to help the South African citizens easily own gold. Cool, right?

Below are amazing facts you need to know about the Krugerrand:

Where does Krugerrand come from?

The Krugerrand was first created in 1967 by the South African Mint, The BoerGold Mint, owned by The Royal Mint. In May 2010, the BoerGold Mint closed, and The Royal Mint took over the Krugerrand production. It had a long history as a Proof coin, which, while produced as a profit, was also meant to be a way of “upgrading” the quality of coins being sold to the public. 

Thus, minting a Proof coin was to increase the coin’s value, as it would then be more difficult for counterfeits to be created. They were minted until 1980 when it was decided that a Proof-like denomination, The “Silver Krugerrand”, would be produced. The Krugerrand was produced between 1967 and 2000, with Proof-like denominations produced until 1984.

What are some of its features?

Metal – 99.5% pure gold.

Colors – the coin is 1.2 mm thick, with a coin weight of approximately 300 grams. It has a diameter of 36 mm.

Edge – The Krugerrand features an edge of 18 carats, with a similar type of edge that’s used on Louis Vuitton watches. The roman numerals of a value of 1 000 rands, 1 000 rands, and 2 000 rands are formed into the edge of the coin.

There are 2 different Krugerrand sizes and 5 different color combinations. For those not looking to part with a huge sum, the coin’s value ranges between $100 and $900. A Krugerrand has a purity of 99.5. %. 

Why should I invest in Krugerrand?

Over the last few years, the price of gold has risen very fast, and so have the prices of some of the coins offered by the South African Mint. Gold has been used as currency for thousands of years, it’s still in use today. The Krugerrand is considered to be one of the most classic gold coins.

 It is offered in 1 oz. gold coin and .999 silver coin. Over the past 10 years, the Krugerrand coin has also had a minting error that resulted in a small gold piece showing up in their sets of Krugerrand. The coin was then removed from sale. Since this occurred, the gold content has returned to 1 oz. gold coin. The South African Mint is not known for producing coins that break the bank. So there is no reason for them to be offering coins with large amounts of gold in them.

 Krugerrands are still valuable and international private investors still buy and use them to trade. If you want to invest in gold, the South African gold coin is a perfect way to start.