The one-ounce South African Krugerrand was first conceptualized in 1964 as a legal tender bullion coin marked only with its weight in gold. The coin was created as a means for the private ownership of South Aftrican gold bullion by the general public and was first minted at the South African Mint on July 3, 1967.
Investors looking to buy or sell Krugerrand Gold coins online or over the phone should call Independent Living Bullion directly at 1-800-800-1865 to inquire about Krugerrand Gold coins value and availability and/or to place an order.
COMPOSITION AND DESIGN
Krugerrand gold coins are designed to be durable and are therefore .9170, or 91.7% gold, with the remainder being copper. This South African coin also appears closer to an orange shade than coins alloyed with silver. Each one-ounce coin weighs 33.93 grams (consisting of 31.1 grams pure gold and 2.83 grams copper). The Krugerrand value is determined by its gold content plus a premium that is dictated by market conditions.
The South African gold coin's name is a combination of the first Boer president of the South African Republic, Paul Kruger, and the name of the South African currency, the rand. The coin features Paul Kruger on the obverse of the coin and a springbok, a famous national symbol of the South African Republic, on the reverse. The words "South Africa" and "fine gold" are displayed in both English and Afrikaans.
The gold Krugerrand is one of the most widely owned gold coins to date, with sales of over 50 million ounces since inception.
