Krugerrand Gold Coins
The Gold Krugerrand is the world’s first modern gold bullion coin and one of the most popular Gold coins everminted. One of the most often misspelled names of any gold coin, the Krugerrands are perfect as a gold bullion coin and usually put away by gold investors looking for the lowest priced gold.
The Krugerrand Gold Coins of South Africa were named after Paul Kruger, the four- term President and issued by the famous “Rand” refinery– hense the name Krugerrand and the problem with spelling. However you spell it, the Krugerrand Gold Coins were first minted in 1967 and created to promote personal gold ownership.
At the time, it had been illegal for U.S. citizens to investment in gold since 1933. Despite the ban, Krugerrands became highly sought after and were brought to America in the black market. In 1971, President Nixon officially took the U.S. off the Gold Standard and it once again became legal to own Krugerrandone ounce gold coins as investments.
We’ve read were more Krugerrands have been minted and circulated than all other gold coins combined. Due to the vast numbers that have been created and the relatively uninteresting designs, the Krugerrand typically trades for lower premiums than modern issues and are not sought after by coin collectors.
- The Krugerrand is minted in a gold and copper alloy which makes the coin harder and more scratch resistant. This also gives the coin its distinctive orange-gold hue. The total weight is 1.0909 troy ounces.
- The reverse features a Springbok Antelope, a national symbol.
- The net gold content is an official 1 troy ounce of pure gold.
- Krugerrands were the first gold coins to be recognized worldwide and minted from gold produced in South Africa at some of the largest, deepest gold mines in the world.
- The date, Krugerrand, and gold content appear on each coin, but no face value. The daily value of the Krugerrand goes up and down, dollar for dollar, with the price of gold.