Offered At Just 2% Over Dealer Cost!
Call 405-425-9876 for current price on this coin.
Content: 1 Troy Ounce
Diameter: 32.77 mm
Thickness: 2.84 mm
Purity: .917 - 22 karat
Overview:
The Krugerrand [kroo-guh-rand, kroo-guh-rahnd] is a South African gold coin, first minted in 1967 to help market South African gold. The coin, produced by the South African Mint, proved popular and by 1980 the Krugerrand accounted for 90% of the global gold coin market. The name itself is a compound of “Kruger” (the man depicted on the obverse) and “rand”, the South African unit of currency. During the 1970s and 1980s some countries[which?] forbade import of the Krugerrand because of the association with the apartheid government of South Africa, which has since been abolished. The Krugerrand today is a popular coin among collectors.
History:
The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. Unusually for bullion coins, the Krugerrand was given the status of legal tender or currency. To this end, it was minted in a more durable copper-gold alloy. Despite the coin’s legal tender status, economic sanctions against South Africa for its policy of apartheid made the Krugerrand an illegal import in many Western countries during the 1970s and 1980s. These sanctions ended when South Africa abandoned apartheid in 1994.
By 1980 the Krugerrand accounted for 90% of the global gold coin market. That year South Africa introduced three smaller coins with a half ounce, quarter ounce, and tenth ounce of gold.
Through 2008, Krugerrand coins containing 46 million ounces of gold have been sold.