Gold South African Krugerrand Coin
Known as Gold South African Krugerrand, the coin was first struck in 1967 in South Africa and since then it has become one of the most popular gold bullion for investment and personal collection purposes. As per market estimates during the 1980s, the gold Krugerrand accounted for nearly 90% of the global market share. That inevitably speaks about the popularity of the coin in the international market.
With several Gold Dealers selling the coin online, it has become very convenient for the prospective buyers to compare the prices and place orders for the same. United States is a big market for gold bullion coins and bars. Dealer like Gold Goliath is highly popular in the US for dealing in a wide range of glittering gold bullion coins and bars.
Kruggerand is a combination of two Afrikaans words – Kruger + Rand. Kruger was a famous South African political and military figure of 19th century. He was the president of the South African Republic from 1883 to 1900. And Rand is the name of the South African currency. Therefore, the name Kruger and Rand combined together to assign the name to bullion coins minted by the sovereign Mint of South Africa.
The obverse of the Gold Krugerrand has an image of Paul Kruger with words, ‘SUID-AFRIKA’ & ‘SOUTH AFRICA’ written in the legend. The reverse of the gold coin contains a sketch of springbok antelope along with mint date, gold weight and the word, ‘KRUGERRAND’. Although the coin was first struck in 1967 but the official design was developed in 1984. Otto Schulz had designed the obverse while Coert Steynberg designed the reverse of the coin.
Gold Krugerrand is minted in standard 1 troy ounce with fineness .9167. However, the coin is also minted in ½, ¼, 1/10 ounce sizes. The major highlights of the Krugerrand gold coin can be summed as below:
* The premium over the spot price is among the lowest available in the market
* Gold coins minted of gold obtained from South African gold mines are highly popular worldwide
* The Krugerrand competes with leading gold coins like the Canadian Maple and American Eagle
* The value of the coin fluctuates proportionately with the price fluctuations of gold
* Popular bullion choice because of daily buy and sell prices quoted by leading dealers for convenient price comparisons
The standard 1 oz. South African Gold Krugerrand is supplied in three tubes with 10 coins, 15 coins, and 25 coins by the South African Mints.