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South African Krugerrand Gold Coins – Quick Fact Sheet
Initially intended to circulate as currency, the gold Krugerrand gets its name from former South African President Paul Kruger and the word “rand,” the country’s official currency. Its gold alloy durability, along with its purity, makes it one of the most prized gold bullion coins for investors.
Continue reading for quick facts, investment insights and brief history of Krugerrand gold bullion coins.
|Type||Gold Bullion (Investment), proof finishes, commemorative issues (Numismatic/Collectors)|
|Mintage||By the South African Mint annually since 1967|
|Weights / Denominations||1 oz Gold Kruggerand, 1/2 oz Gold Krugerrand, 1/4 oz Gold Krugerrand, 1/10 oz Gold Krugerrand|
|Front Design||Bears the face of Boer statesman Paul Kruger, who served four terms as South Africa’s president. The obverse side of the Krugerrand also bears the name of the issuing country in both Afrikaans and English.|
|Rear Design||Designed by Coert Steynberg, the reverse side of the coin features one of South Africa’s national symbols, the springbok. This design was originally featured on the South African five shilling coin|
|Brief History||Krugerrand gold bullion coins were launched in 1967 by the South African Mint to provide private individuals an opportunity to own gold. It was originally intended to circulate as currency, which is why the coins are minted in a more durable gold alloy. The success of the gold Krugerrand spawned the development of other popular coins like the American Gold Eagle and Canadian Maple Leaf. Exports of the gold Krugerrand were crippled due to economic sanctions over South Africa’s policy of apartheid. These sanctions were lifted after apartheid ended in 1994.|
Gold Krugerrands are known around the world for their consistent weight and purity and have been a mainstay for gold investors for decades. Investors can buy gold Krugerrands in a variety of sizes to save for retirement, emergencies and protect the value of their savings.
Collectors can also purchase proof and commemorative issues of South African Krugerrand gold bullion coins.
|Gold Bullion Content||Contains 91.67% (22-karat) gold bullion with the remainder consisting of a copper alloy, which gives the gold Krugerrand its unique orange shine.|
1 troy ounce Gold Krugerrand
1/2 troy ounce Gold Kruggerand
1/4 troy ounce Gold Krugerrand
1/10 troy ounce Gold Krugerrand
Learn more about South African Krugerrand gold bullion coins along with other precious metals investment options and how to manage your gold and silver bullion investments by reading more of the Buying Guide. If you have any questions or would like to buy gold Krugerrands for your portfolio, check out Provident Metals for current prices.
The reverse designs on these coins are based on some of the fundamental human rights enshrined in the Constitution of the Republic of South Africa, namely Children’s Rights, Right to Education, Environmental Rights, Freedom of Movement and Residence and Freedom of Religion, Belief and Opinion.
The Children’s rights circulation coin shows a group of cheerful kids on the reverse.
Artist Neo Mahlangu wanted to create a design that could capture children’s innocence and bring back memories of our time as children to constantly remind everyone to protect and nurture them and in doing so, the future of the country.
The Right to Education is showcased by three universal symbols of learning and knowledge namely a book, a cube (featuring letters and numbers), and a graduation cap on the R2 coin.
This coin was also designed by Neo Mahlangu who believes the topic of education is an important one in the country due to its potent influence on this nation. She wanted to create a design that could resonate with a mature adult pursuing studies as well as the child in a preschool in equal measure.
An illustration represents Environmental Rights showing water and a fish, land with plants and the sky with clouds and the sun is seen on the reverse of the coin.
According to artist Maaike Bakker, the illustrations on this coin that she designed highlight the idea of a well-balanced, protected environment that is not harmful to the wellbeing of those inhabiting it. The design was inspired by the country’s great outdoors, access to which is guaranteed by the South African constitution.
Freedom of Movement and Residence is symbolised by a plane, a bird holding a key, and a minibus taxi on the reverse of the coin.
Local graffiti artist Rasty Kanyles who designed this coin likened freedom to a bird, a complete embodiment of being free to move around and reside anywhere in the country. The weaver bird is a reflection of an average South African, hardworking, cheerful and respectful to fellow beings. The key symbolises a passport, a prized document which guarantees any person holding it, free and through access across borders and return home and above all serve as an infallible South African identify. The minibus taxi used by millions of South Africans and the passenger plane highlight economic activity as well as movement.
The R2 featuring the right to Freedom of Religion, Belief and Opinion shows raised hands representing the individual person, also a sign many make to express an opinion and wish to be heard.
Artist Peter Mammes who designed this coin said he wanted to depict people, ethnicity, and religion without being specific. The hands on their own do not convey gender, colour, age or any information that might exclude any group amongst the population of South Africa so they convey a sense of unity, freedom, and virtue-like swearing an oath in court or praying.
NB: These commemorative proof coins can only be found in the 8 and 9 coin sets, and are NOT sold on their own. Unlike the circulation commemorative coins, these coins are of a premium quality (proof), and come in a capsule, which the circulating coins don’t.
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The 1-ounce gold Krugerrand is 91.67% fine gold, and weighs 1.0909 troy ounces. It is distributed from the South Africa Mint in tubes of 10 and/or 15 coins per tube. Its diameter is 32.7 mm, thickness 2.83 mm.
Gold bullion coins got their start in 1967 when South Africa introduced the Krugerrand.
South Africa is the largest producer of gold in the world, and the Krugerrand helped the country to market the vast stores of gold coming out of the deep mines around Johannesburg.
The convenience of a legal tender gold bullion coin, exactly one ounce of pure gold, guaranteed by a government Mint for weight and purity, made The gold Krugerrands is the predominant way for individuals to buy gold bullion in the 1970’s.
With the demise of gold as legal tender coins in the first half of the 20th Century, the only gold struck came to be special presentation pieces and collectors issues, not the old fashion gold-for-money’s–sake gold coins as had been produced for thousands of years prior. Gold-for-gold’s-sake was pretty much bullion bars, a form of gold whose ownership was restricted in the United States from 1933 to 1975. Gold coins came to mean coins of numismatic or collectors value, coins which traded for prices far in excess of their gold value.
Krugerrand — Buy Krugerrands | BullionByPost®
Krugerrand — Minted since 1967, The South African Krugerrand is the most popular and numerous one ounce bullion gold coin in the world and offers a great value way to invest in gold.
Krugerrands are 22 carat gold, but weigh more than a troy ounce and therefore contain exactly 1 troy ounce of fine (24 carat) gold.
This product is a ‘Best Value’ item therefore the coins sent will be our choice of date. Coins may be circulated and are therefore sold based on their bullion value.
Our bullion 1oz Krugerrand gold coins are checked for weight and quality before they are dispatched.
Click here for specific date coins. Alternatively, for brand new coins see new 2017 krugerrand.
The obverse of the Krugerrand features a depiction of the aforementioned Paul Kruger. Kruger was also a four-term president of the old South African Republic. The obverse also bears the words «South Africa» in Afrikaans and English.
On the reverse of the Krugerrand you will find a Springbok antelope, one of the national symbols of South Africa. The mint date and weight of the gold is also printed on this side of the coin.
South Africa Krugerrand Information • Liberty Coin
A Favorite Among Seasoned Bullion Buyers
As demand for gold bullion soared in the mid 1960’s there were few options available to the individual investor. The South African Government perceived an opportunity to serve this market and introduced the Krugerrand in 1967. Gold demand continued to remain strong for the next decade and the Krugerrand enjoyed a special status as the only readily available one ounce gold coin. At the 1979-1980 peak of the gold market, it was the best selling gold bullion coin in the World. As consciousness of South Africa’s Apartheid policies grew, the Krugerrand suffered from diminished interest; especially as new competitors entered the market. Ultimately, the United States banned the import of Krugerrands in 1985. Many investors misunderstood this ban and thought that Krugerrands were illegal to own in the U.S. (the import ban has been lifted, so it is now legal to import Krugerrands again.) As a result, premiums on Krugerrands fell below that of other competing bullion coins. Krugerrands are still preferred by many people who were active buyers of gold in the 1970’s due to their familiarity with the coin. Since Krugerrands are still widely traded, they make a fine choice for a bullion coin purchase. However, they cannot be included in precious metals IRA’s.
If you are interested in purchasing South Africa Krugerrands, please call one of our traders at 800-527-2375 for up to the minute pricing information. For price indications, refer to our Daily Quotes Price Page.
South Africa Krugerrand Specifications:
Size: 1.00 Ounce
Denomination: One Krugerrand
Gross Weight: 33.93 grams, 1.09 oz. Troy
Actual Gold Weight: 31.10 grams, 1.00 oz. Troy
Fineness/Composition: .9167 Gold, 22 Karat
Diameter: 32.60 MM, 1.28 Inches
Thickness: 2.85 MM, .112 Inches
Specific Gravity: 17.77 Approx.