Of all the notable South African coins, none is as well-known to collectors around the world as the Gold Krugerrand. This coin was first minted in 1967 as a way to market South African Gold to collectors around the world. By 1980, it was by far the most popular Gold coin in production around the world.
The name Krugerrand is a blending of the words Kruger, for South Africa’s first and only president Paul Kruger, and rand, the unit of currency in South Africa. The obverse of the coin features the likeness of Paul Kruger while the reverse shows a Springbok antelope, the national animal of South Africa, along with the year of minting and the Gold weight.
The Gold Krugerrand is composed of a troy ounce of Gold, making it an easy way for investors to gather and hold on to Gold in coin form. The purity of the coin is .9167 fine Gold — one of the highest amounts available in a Gold coin. Krugerrands also contain a small amount of Copper to create their specific look.
It is important to note that production numbers of the Krugerrand vary greatly from year to year based on demand from the year before as well as certain international sanctions put in place at different times. This means that for collectors, certain years have a higher value than others. However, if you are investing in the Gold value of the coin, the weight and purity are always the same. It is important that you understand these differences when choosing coins for investing versus collecting.
Collectors may also be interested in purchasing a Proof Gold Krugerrand instead of a “regular” bullion coin. These are easily distinguishable from the bullion coins because they have a higher number of serrations on the edge and a mirror-like finish, providing added beauty. If you are planning to keep the coins for long-term collector value, choosing these proof coins may be a good option.
The history and elegance of the Gold Krugerrand makes it a desirable piece for any collector. The Gold content makes it a perfect piece for any investor.