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Most people have at least heard of the South African Gold Krugerrand, but many people are unaware of the rich history of these beautiful coins. If you have been considering your investment strategy for pure gold coins, keep reading to learn everything you need to know about the gold content and more.
When you begin researching South Africa and the South African Mint, you will quickly discover these gold krugerrands have a complex history that begs to be studied. These were first minted by the South African Mint in 1967.
The government wanted to produce these to showcase the country's immense gold, precious metals, and gem reserves. They debuted at one troy ounce and were made with 22-karat gold.
They were immensely popular from the moment they were released. The stock qty took a beating in the 1970s because of Western sanctions. During this time, Western governments boycotted South African Mint products.
Despite the sanctions, this African legal tender coin found its way into the hands of collectors. From 1967 to 1979, the Krugerrand was the only gold coin. The market today has many options.
Although not as popular as when they were first released, the Krugerrand coin remains prized. Many investors buy these each year to add to their collections. Unfortunately, this gold coin does not have the gold pureness level required for gold IRA investments.
The market today is inundated with gold coin offerings, but these gems were once the only ones on the market. Gold Krugerrands have the distinction of being the first troy-ounce gold coins on the market. These aren't the only interesting facts about Krugerrands though.
Their name was derived by combining the name of an African hero, called Paul Kruger, and the rand, which is a South African monetary unit. Paul Kruger was a highly popular Boer leader and later went on to become president of the country. As former president of South Africa, Paul Kruger and his legacy live on in these gold coins.
The South African Mint Company has placed the most beautiful designs on these beloved collectibles, including South Africa's national animal. For years, the same design has remained on the obverse and reverse.
On the obverse side, you will find a highly detailed profile portrait of Paul Kruger. The inscription says “Suid-Afrika” and “South Africa.” This design was created by Otto Schultz and was updated in 1984.
On the reverse side, you will see the Springbok Antelope, which is the official representation of the Modern Republic of South Africa.
When buying Krugerrand coins, there is a distinctive feature that separates proof coins from gold bullion coins. Gold bullion coins have 160 serrations on the edges, while proofs have 220.
When buying from those who sell Gold Krugerrands, keep this fact in mind. You need to be aware of fake Krugerrands and avoid them.
When the South African Republic first released gold Krugerrand coins, they were all one troy ounce. The Reserve Bank realized they were so popular with gold buyers that they began minting them in other sizes as well.
Today, this South African coin is available in one troy ounce, 1/2 ounce, 1/4 ounce, and 1/10 ounce. All four versions remain in production today.
Many people purchase Gold Krugerrand coins because of their nostalgic beauty and value. They continue to shine on the global gold coin market. Although these coins are not eligible for gold IRA, many buy gold krugerrand coins to add to their collections.
This privately owned mint has minted countless coins for the South African Reserve Bank. It is located in Centurion, Gauteng, which is near the city of Pretoria.
The Rand Refinery and the mint work together to produce Gold Krugerrand coins. The refinery has trademarked the name Krugerrand.
Now that you know more about the South African Gold Krugerrand, you likely wonder if it is worth your time. Are silver Krugerrands a good investment? Are Krugerrands worth more than gold?
This South African Gold coin is one of the most established in history. These fine collectables have been minted for more than 50 years and their quality is guaranteed. You will find many gold dealers offer international shipping, and the shipments are fully insured.
With its national symbol and highly detailed finish, the South African Gold Krugerrand has the ability to attract investors from all over the world. When learning how to invest in Krugerrands, it is important to remember the risks. Despite the risk, the South African Gold Krugerrand is a popular investment choice.
The high popularity of these collectibles is intriguing, but you need to be aware of the benefits before you purchase.
The following are some of the top questions we encounter regarding gold and silver Krugerrands. Read the answers before buying and selling Krugerrands.
The average worth of a gold krugerrand is $1,795. Check out this page for other rare coins worth money.
1967 is considered one of the most valuable years for this fine gold South African currency.
No, they do not have a fixed value.
No, they do not have serial numbers.
All gold has the potential to increase in value.
Are Gold South African Krugerrands legal in US? While many people believe the ban on imports from Africa in the 1970s makes these collectables illegal, this is not correct. Ownership was never unlawful for any stock qty.
Purchase any form of physical gold, especially a South African Krugerrand, from a reputable dealer. Understand the gold spot price before you buy. Buying Gold Krugerrand online will often save you money on gold bullion coin, but may require a bank wire.
These are legal tender from the South African Chamber but have no face value, no matter the stock qty.
As you begin investing in different types, be aware there is a potential for owing capital gains taxes on all world gold bought.
The information provided in this website is intended solely for educational purposes and general informational use. It is not intended as, nor should it be considered, financial or investment advice. Investing in gold or any other financial asset carries inherent risks, and decisions regarding investments should not be made solely based on the information presented here.
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