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1. Money Metals Exchange
2. Precious Metals Education Center
3. Why the Krugerrand Is the King of Gold Bullion Coins
WHY THE KRUGERRAND IS THE KING OF GOLD BULLION COINS
by Stefan Gleason
April 16th, 2015
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Print
The Krugerrand can be considered the king of one ounce gold bullion coins.
Investors instantly recognize the Krugerrand and its value.
Originally, it was developed to promote South Africa’s gold mining industry.
This distinctive coin is harvested from the largest mines on the globe. Since
its inception in 1967, the Krugerrand has made it easy for all types of people
to buy gold.
Discover the rich history and the unique appeal of these precious popular
gold bullion coins…which are just as popular pre 1933 coins gold sale that came
before them.
BUY GOLD KRUGERRANDS:
1 Oz South African Gold Krugerrand Coins
VIEW DETAILS
1/4 Oz South African Krugerrand Gold Coin
VIEW DETAILS
1/10 Oz Krugerrand, 22K Gold
VIEW DETAILS
1/2 Oz Gold Krugerrand
VIEW DETAILS
Contents [show]
* The Beginning of South Africa’s Modern Gold Coin
* The Amazing Success of the Krugerrand
* The Controversial Krugerrand
* A Nice-Looking Coin
* The Not-So-Great Pretenders
* The Composition of the Krugerrand
* What Are Proof Krugerrands?
* The Krugerrand as a Symbol of Generosity
* Investing in Gold Krugerrands
THE BEGINNING OF SOUTH AFRICA’S MODERN GOLD COIN
The Krugerrand was first minted in 1967. The South African coin encouraged the
private ownership of gold. Unlike other bullion coins, the Krugerrand was given
the status of currency or legal tender. As a result, it was minted in a
copper-gold alloy to be durable.
This copper-gold alloyed coin has been incredibly successful on the market, both
yesterday and today. Customers can find Krugerrands priced lower than most other
government-minted gold coins. It is also helpful that Krugerrands are widely
recognized, with over 46 million ounces of Krugerrand gold sold to date.
THE AMAZING SUCCESS OF THE KRUGERRAND
Over the past five decades, production of Krugerrands has varied for political
reasons. The Krugerrand accounted for 90 percent of the global gold market in
1980. During this year, South Africa also introduced smaller sizes to buy, with
half ounce, quarter ounce, and tenth ounce gold coins becoming available.
Currently the Krugerrand remains the most actively traded gold bullion coin on
the international market. Competitors such as American Gold Eagles and the Gold
Canadian Gold Maple Leaf still fall short of the Krugerrand. More South African
Krugerrands have been minted and circulated than any other gold bullion coins.
THE CONTROVERSIAL KRUGERRAND
Minted from the Rand Refinery beginning in 1967, by the 1970s, Krugerands became
the top choice for savvy gold investors. An investor who understood the value of
precious metals such as silver, gold, palladium and platinum soon recognized the
growing popularity of the Krugerrand.
During the 1970s and 1980s, the Krugerrand was designated an illegal import in
many Western countries due to the policy of apartheid in South Africa. The
country came under international economic sanctions. The sanctions ended in
1994, when the South African government abandoned apartheid. The coin soon
regained its momentum among buyers and dealers.
A NICE-LOOKING COIN
The coin's popular status is, in part, due to its uniquely distinctive
appearance. The obverse of the Krugerrand was designed by Otto Schultz. It
features the bust of Paul Kruger, a Boer statesman and president of the old
South African Republic. The words “South Africa” appear around the bust. On the
reverse is the renowned image of the speedy springbok antelope that roams the
wild.
The design, featuring a national symbol of South Africa, was the brainchild of
sculptor Coert Steynberg. The name of the coin is a combination of Paul Kruger's
surname and “rand,” which is the word used for South African currency.
THE NOT-SO-GREAT PRETENDERS
Like any other coveted item, the Krugerrand attracted imitators. The success of
the Krugerrand caused other gold-producing nations to mint and issue their own
gold bullion coins, such as the British Britannia and the Chinese Gold Panda.
Private mints have also tried to mint gold bullion rounds (the word “coin”
refers to actual currency) that mimic the design features of popular gold coins.
They have created rounds featuring a springbok and Paul Kruger, practically
copying the Krugerrand design, with different inscriptions. Discount retail
pricing and odd minting features help reveal the pretenders. The term
“Krugerrand” is a registered trademark owned by the Rand Refinery.
THE COMPOSITION OF THE KRUGERRAND
When people think of gold, karat comes to mind, such as the number of karats
contained in a certain piece of gold jewelry. Investors think of the ounces
contained in gold bullion coins.
The one ounce Krugerrand is composed of a fractional ounce of copper alloy and 1
troy oz of 22 karat gold. The total weight is 1.0909 troy ounces (33.93 grams).
The addition of copper makes the Krugerrand 1 oz coinresistant to scratching and
gives the gold an unusual orange tint. This type of alloy is referred to as
crown gold because it has long been used for English gold sovereigns. It is
minted from a gold alloy that is 91.67 percent pure. The thickness of the
bullion coin is 2.84 mm and it is 32.77 mm in diameter.
WHAT ARE PROOF KRUGERRANDS?
The South African Mint Company produces proof Krugerrands. These limited edition
coins are made to be collectors' items. They are more expensive than ordinary
bullion coins. Therefore, they are recommended only for people who value the
aesthetic qualities of the proof finish and not for bullion investors who aim to
acquire the most gold for sale for their dollar.
The number of serrations on the edge of the coin help buyers tell the difference
between proof Krugerrands and bullion Krugerrands. The bullion coins have 160
serrations and the proofs have 220 serrations.
THE KRUGERRAND AS A SYMBOL OF GENEROSITY
During the holiday season, people are accustomed to seeking Salvation Army
donation kettles at malls and shopping centers. Often people drop their change
after shopping into the kettles, as a Salvation Army worker rings a bell and
smiles in thanks.
Now it has become a tradition to deposit Krugerrands in these famous kettles.
Cities around the United States have found them being donated, ranging from
Atlanta, GA to Tulsa, OK. This boosts the rating and prestige of the dependable,
durable Krugerrand.
INVESTING IN GOLD KRUGERRANDS
As investors review their options and study financial charts, buying into the
solidity of gold Krugerrands is a viable alternative to paper assets. Buyers
from all financial backgrounds appreciate this great product as a way to build a
perse, effective portfolio. Ownership of Krugerrands gives people liquidity in a
variety of circumstances.
For generations, people have recognized and appreciated Krugerrands as a solid
investment. Now may be the time for you to invest in the rich history and bright
future of the Krugerrand.
About the Author:
Stefan Gleason is President of Money Metals Exchange, the company recently named
"Best Overall Online Precious Metals Dealer" by Investopedia. A graduate of the
University of Florida, Gleason is a seasoned business leader, investor,
political strategist, and grassroots activist. Gleason has frequently appeared
on national television networks such as CNN, FoxNews, and CNBC and in hundreds
of publications such as the Wall Street Journal, TheStreet, and Seeking Alpha.
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