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South African Mint Gold Krugerrands

South African Mint Gold Krugerrands

Nothing says wealth like Gold Krugerrands from South Africa.

The Gold Krugerrand is perhaps the most famous name in Gold coins because it was the first modern bullion coin. The iconic South African Gold coins were first released in 1967 with no face denomination because the coins’ value was linked to the daily Gold spot price. The Krugerrand was the only Gold bullion coin available to the international market, making it wildly successful. Other Gold coins from national mints would follow, but having Krugerrands has remained a shorthand for wealth.
The Gold Krugerrand was introduced as a mass-produced means of allowing private ownership of Gold as well as being legal tender currency. The South African Gold coins are made with a copper-Gold alloy for more durability. The Krugerrand Gold coin was later released in smaller sizes, making it an affordable investment for a greater number of people who want to buy Gold. The success of the Gold coins caused other mints to issue Gold bullion coins, including the Gold Canadian Maple Leaf and the Gold American Eagle.

Rand Gold Coins

The Gold Krugerrand gets its name from Paul Kruger, South Africa’s first president, and rand, the South African currency. These Gold coins being referred to as “rand” also is associated with the Witwatersrand, where Gold was discovered in 1886. The production of the South African Gold coins and other Gold products from this Gold reef changed Africa almost instantly. The importance of the Krugerrand Gold coin mirrors just how important Gold has been to South Africa, which produced 75 percent of the world’s Gold in the late 1960s and early 1970s.

What is a Krugerrand?

The Krugerrand is a Gold coin minted by South Africa. The Krugerrand was introduced in 1967 and is still hugely popular all over the world. The name Krugerrand refers to the likeness of Paul Kruger, South Africa's first and only president, on the obverse.

Popular Gold Bullion Investment Coins

The Gold Krugerrand is one of the most popular Gold bullion investment coins in the world. The Krugerrand Gold coin was made specifically to drive demand for South African Gold. Because the South African Gold coins were legal tender, foreigners could buy them when it was illegal to buy foreign Gold bars. The South African Gold coins have their weight stamped on them instead of a face value to emphasize their worth as Gold and to make trading and accounting easier. The Gold coins are now also made in collector series, which add numismatic value to the Precious Metal value.

Gold Krugerrand FAQ

What is a Gold Krugerrand worth?

The Gold Krugerrand is distinctive because the government of South Africa determines its currency value based on the current market price of Gold. At any given time, someone with a Krugerrand can go into a South African bank and exchange the bullion coin for the going rate of 1 troy ounce of Gold. Elsewhere in the world, you can still buy and sell Krugerrands for near the current spot price, although exchange rates of money from country to country may slightly affect the price. Because the Gold Krugerrand has historical significance, as well, some collectors are willing to pay a higher premium over spot price for a particular series of Krugerrand.

Is it important to buy South African Gold?

Many collectors feel that it is crucial to buy South African Gold because of the region's significance in the world of Precious Metals. The southern tip of Africa is home to many of the largest known deposit of Platinum and other Platinum Group Metals. The country is also among the highest exporters of newly mined Gold, although not the primary source. It is also worth noting that South Africa is an influential source of Diamonds, which adds to the country’s reputation as a prominent source of Precious Metals and Stones. This significance in the marketplace makes it a good idea to include South African Gold within your portfolio, even if you primarily buy bullion products created by your home country.

How much is a Gold Krugerrand worth in dollars?

To determine how much the Gold Krugerrand is worth in dollars, you only need to know the current market price of Gold. Within the country’s borders, the exchange rate of a Krugerrand is set by a fixed rate based on spot prices at the opening of the business day. Elsewhere, a Krugerrand is worth the same as 1 ounce of Gold bullion, since that is precisely how much the coin contains. As spot prices fluctuation throughout the day, the commercial worth of a Gold Krugerrand may also change. Certain collectible series of this South African Gold bullion coin will sell at a premium due to rarity and historical significance, but ultimately, the value is set by the current Precious Metals market.
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