How To Buy Gold Krugerrands
No gold bullion coin in the world has a richer history than the South African Gold Krugerrand. While gold investment-grade coins are now, seemingly, a dime-a-dozen for buyers, there was a time when the Gold Krugerrand was the only choice when buying gold coins for private investment. Learn all about the rich history of the South African Gold Krugerrand with JM Bullion.
how to buy gold krugerrands
The South African Gold Krugerrand coin has a complex history. The coins debuted in 1967 as a means for the South African government to promote the vast gold, precious metal, and gem reserves of the nation. The Gold Krugerrand instantly became the first modern gold bullion coin available for private investment. The coins debuted as a 1 Troy oz specimen with 22-karat gold content.
The South African Gold Krugerrand may have debuted as a 1 Troy oz coin, but it did not remain as a singular option for long. In 1980, the Gold Krugerrand was so popular that it accounted for 90% of the global gold coin market. In response to its popularity, the South African Mint expanded the collection to feature three fractional-weight coins: 1/2 oz, 1/4 oz, and 1/10 oz. To this day, all four versions remain in production with 22-karat (91.67%) gold content.
A Gold Krugerrand is a 1 oz gold bullion coin produced by The South African Mint. It is accredited as being the first modern bullion investment gold coin and is still one of the most popular gold bullion coins in the world.
Gold Krugerrands were designed and first minted in 1967 specifically as investment gold coins. They are widely traded on the global gold markets with some 50 million having been created and are therefore competitively priced and highly liquid. South African Krugerrands were mass produced to help retail investors purchase gold bullion with ease and in confidence.
In order to determine the price of a Gold Krugerrand, simply multiply the spot price of gold by the number of gold troy ounce in the Gold Krugerrand (1 ounce) and then add or subtract the current premium for the coin or coins.
The value of a Gold Krugerrand is their competitive price, high popularity, and internationally liquidity. They are considered to be a portable store of value and a vital form of financial insurance. They are one of the best ways for gold buyers and investors to own physical gold. For 50 years, they have acted as a hedge and protected gold owners from domestic and international financial and monetary risks.
Gold Krugerrands are 22 karat gold coin, with a fineness of 0.9167 or 22/ 24 pure gold. It is made of 11 parts gold to 1 part copper, creating an alloy known as a crown coin. The copper is added to provide durability and strength to the coin.
In the mid-1960s the South African Chamber of Mines devised the Krugerrand as a way of selling South African gold to retail investors internationally. The first Krugerrands were minted in 1967 but only mass produced for the international market beginning in 1970.
The South African Mint is the leading mint in Africa and the official mint of South Africa. It has over 100 years of experience minting gold and other coins for Africa and countries internationally. The South African Mint Company is located in Centurion, between Pretoria and Johannesburg and is a wholly owned subsidiary of the South African Reserve Bank (SARB).
Gold Krugerrands have legal tender status in South Africa but they have never recorded a face value on the obverse or reverse side of the gold coin. This was done in order to underline that the value of each gold coin is directly related to the prevailing value of their fine gold content.
The South African Gold Krugerrand is the original gold coin available for private investors, having debuted in 1967. The design was made more modern in 1984, but has otherwise remained consistent throughout the years.
The coin was released at an interesting time in South African history, as the apartheid had a strong hold on the country. Despite the coin being incredibly popular throughout the world, Western investors were unable to publicly purchase the gold Krugerrand for several years due to economic sanctions.
The South African Gold Krugerrand was introduced in 1967 as the official bullion coin of South Africa and became the first commemorative gold bullion coin on the market as a vehicle for private gold ownership. The coin was uncontested in the market for more than 12 years, with the Canadian Gold Maple Leaf offering the first challenge.
Also for Silver a moment 50 years in the making has finally arrived for numismatists around the world to savor. The South African Gold Krugerrand was the first private-investment gold bullion coin produced in the world, but while other mints offered gold bullion programs with a matching silver coin, the South African Mint never expanded the Krugerrand. That is, until now, the 2017 1 oz South African Silver Krugerrand Coin is available to you now from First National Bullion in unique condition!
The South African Gold Krugerrand Coin is one of the most trusted and sought after gold bullion coins in our industry. This one ounce gold coin is offered in brilliant-uncirculated condition and has a 22K gold coin purity, which is a millesimal fineness of .9167.
First introduced in 1967, the Krugerrand is considered the oldest 1 ounce gold coin regularly minted available for buying, selling, or trading. At one point in 1980, the 1 ounce Krugerrand made up over 90% of the gold bullion coins that were offered on the world market. Today over 50 million Gold Krugerrand Coins have been minted and sold to gold bullion coin buyers across the world.What makes the Gold Krugerrand unique is that there isn't a published legal tender value on the coin. South African considers the value of the coin to be the current spot value of gold. This was done purposely as the government wanted to encourage personal ownership and investment into gold.
Issued by the South African Mint, the South African Gold Krugerrand receives its name from the fifth president of the country, Paul Kruger. As the leader of South Africa, he represented his nation's interests against Great Britain during the Second Boer War and is often seen as a controversial hero. Some liken him to a folk hero, ready to sacrifice anything for his people. Others see him as a stubborn leader who represented an unjust cause. Kruger held the office of the presidency for nearly two decades and would serve in the government for over 40 years.The obverse of the coin offers collectors and investors a profile of Paul Kruger, with the country name offered in dual language. The reverse of the coin is of a springbok antelope, which happens to be the national symbol of South Africa. Crafted with stunning detail, the design is meant as a homage to the political and natural heritage of all South Africans.The reverse of the coin states that it is made from 1 ounce of fine gold. The year of its mintage is also struck on each Gold Krugerrand Coin.
Because these gold coins are made with 22K gold and not .9999 fineness as others that are on the market today, some collectors may be hesitant to invest into this specific coin. With nearly 50 years of history, however, there isn't a more established gold coin on the world market today. Each coin offers a guaranteed quality with an attractiveness which allows these coins to be visually appealing. Their elegance may have been designed to attract investors in a closed economy, but those efforts have now created gold coins that are in high demand worldwide.Gold is often considered to be a worthwhile investment opportunity, but even an investment into South African Gold Krugerrands is not without risk. The price of gold can rise or fall on a daily basis, so the volatility of the market must be something each collector or investor considers before finalizing their purchase.If you've never had the opportunity to see a Gold Krugerrand personally, then consider an investment into these highly sought after gold coins today. These are highly regarded coins that will help to diversify a collection, protect a financial future, or help someone plan for their retirement. Contact us today with any questions on what we have in-stock right now or questions about the Gold Krugerrand in general and we'll be happy to provide whatever answers we can.
The South African Mint Gold Krugerrand coin is a gold bullion coin that was first minted by the South African Mint in 1967. It was the world's first modern gold bullion coin, and it quickly became a popular investment among collectors and investors around the world.
The Krugerrand is made from a gold alloy that is 91.67% pure (22 karats), and it contains one troy ounce of gold. The remaining 8.33% of the alloy is made up of copper, which makes the coin more durable and gives it a reddish color. The coin has a diameter of 32.77 mm and a thickness of 2.84 mm.
Krugerrands are legal tender in South Africa, but they are not often used as currency. Instead, they are primarily used as a store of value and an investment in gold. They are traded and collected around the world and are often bought and sold based on the current market price of gold.
In 1874, the British government decided to establish a mint in South Africa to produce coins for the colony. The mint was built in Pretoria, and it began producing gold coins in 1892. The first coins produced by the mint were the gold "pond" coins, which were equivalent to one pound sterling.
In 1923, the mint was moved to a new facility in Pretoria, and it began producing gold coins as well as silver. During World War II, the mint produced medals and other items for the war effort, and it also produced coins for other countries in the region.
In 1961, South Africa became a republic, and the mint began producing coins for the new government. The first coins produced for the republic were the gold "krugerrand" coins, which were introduced in 1967 and quickly became popular among investors around the world. 041b061a72