Krugerrands Coins

Introduced in 1967, South Africa’s Krugerrand gold coin is one of the few gold coins minted as legal tender. Designed to honor South Africa’s historical coins, it features a bust of former president Paul Kruger on one side. The name of the coin combines the president’s name with the word Rand, South Africa’s unit of currency. The opposite side of the coin shows the well-known South African animal, the Springbok.

Made of 22 carat gold, there have been more than 50 million Krugerrand coins minted in the past 40 years. The coins are available in 1 oz, ½ oz, ¼ oz and 1/10 oz sizes. The 1 oz is the most common. The coins trade at a premium above the daily price of gold. An uncirculated or bullion Krugerrand coin has 180 serrations on the coins’ edge and is linked to the daily gold price. Only a small number of proof Krugerrands are available, each with 220 serrations. The proof coins are available at a fixed price. Krugerrand’s are considered one of the easiest ways to trade in the precious metal, allowing more people to invest in gold.

South Africa is the world’s largest producer of gold. In the 1960s, the country’s gold output was more than 1,000 tons. Today, South Africa produces one quarter that amount, but it still leads the world in gold production.

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