Kruggerand coins (known also as Krugerrands or Krugers) are legal tender 22 carat gold South African coins that are popular not only in South Africa, but worldwide. They were first bullion legal tender coins and were model for other one ounce gold coins. Krugerrands are also known as the most circulated gold bullion coins in the world.
The story of Kruggerand coins began on 3 July 1967, when they were introduced as atempt to make South African gold more popular and they have been issued every year since then. Soon they became very popular and reached their highest point in 1978, when they dominated the gold coin market. In 2002 and 2004 their sales increased again due to raised interest in gold investments, since Kugerrand value is linked to the value of gold. They are sold with a low markup above the gold price, which depends on size, quantity bought, collectors value and condition of the coins. As legal tender coins they are very liquid and can be exchanged for money at any time. Besides that they can be imported into many countries without import taxes, duty or VAT.
Originally Kruggerand coins were issued only as one full troy ounce (31.1035 grams) gold coins, until the fractional sizes were introduced in 1980. Now they are available in four sizes- as 1 oz, 1/2 oz, 1/4 oz and 1/10 oz fine gold coins and in sets of all four coins, that can only contain coins issued since 1980(when the first fractionals were made). Still, the original one ounce coins (known also as full or one ounce Krugers) remain the most popular among Krugerrands.
Design of Krugerrand coins hasn’t changed much over the years. Obverse portrays president of South African Republic- Paul Kruger with name of the issuing country in Afrikaans (Suid-Afrika) and English(South Africa) and reverse depicts a springbok antelope (one of South African national symbols), mint date, word Krugerrand and coin’s gold weight. They are strucked by the South African Mint from blanks supplied by Rand Refinery Limited and their number is limited to 500,000 oz of fine gold per year.
Specifications of Krugerrand coins: Krugerrands are gold coins with 916,67 fineness. The remaining 88.33 parts per 1000 is copper. This mixture of gold and copper makes Krugerrand coins harder, more resistant to scratches and dents and is usually used for gold coins used as currency.
Technical Specifications of Bullion Krugerrand Coins
|Size||Face Value||Weight||Gold Content||Fineness||Diameter|
|1 ounce||10||33.9305||31.104||1.000||22||32.61 - 32.77||2.74 - 2.84|
|1/2 ounce||5||16.9653||15.552||0.500||22||26.93 - 27.07||2.115 - 2.215|
|1/4 ounce||2.5||8.4826||7.776||0.250||22||21.94 - 22.06||1.788 - 1.888|
|1/10 ounce||1||3.3931||3.110||0.100||22||16.45 - 16.55||1.25 - 1.35|
Krugerrand coins come as both bullion and proof coins. First are produced mostly for investors in gold and second are designed for the collectors. They both have the same same design, but the difference is visible in quality, number of serrations and price of the coins. Proofs are made with more effort, have sharper image, lower mintages and are therefore priced above bullion Krugerrand value. They are sold in sealed capsules together with a certificate of authenticity while bullion coins come in presentation gift boxes. Among collectors they are known as coins of the highest quality.
You can buy Krugerrands from thousands of coin dealers and banks around the world. Besides that, they are available online- on Amazon, auction sites such eBay, BidOrBuy.co.za and on other websites.
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