Investing in gold can protect their savings by converting it into gold. Whether it’s in the form of bullion or gold coins, gold products are many and varied. Among the gold coins, the Krugerrand gold coin is the most recommended and most traded in the world. This article aims to present this piece and why we advise to invest in gold.
Features of the Krugerrand
The most famous piece of gold in the world since its introduction in the 1970s, this piece bullion or mini-ingot, native to South Africa weighs 33.93 grams and contains a fine ounce, or 31.103 g. This gold coin has no face value.
The Krugerrand is legal tender in the country since 1967 and is struck by the South African Mint. The South African Mint also struck recently derivatives Krugerrand 1/2 ounce, 1/4 ounce and 1/10 ounce.
In summary :
Fine gold weight
31,103 g (1 oz)
15,552 g (1/2 oz)
Years of issue
From 1970 to nowadays
Observe of the Krugerrand :
On the obverse face of the Krugerrand profile of former South African Minister Paul Krugger. The profile of the former military chief and political Boer is surrounded by « SUID-AFRIKA » and « SOUTH AFRICA« .
Reverse of the Krugerrand :
The reverse of the Krugerrand features the Springbok gazelle, symbolic animal of South Africa. Above the animal is marked « Krugerrand » and the words « FYNGOUD 1/10 OZ FINE GOLD » below. Of both sides of the animal.
History of the Krugerrand
In 1967, the South African Krugerrand Mint launches, investment gold piece designed for the sole use of South African citizens. This is the first gold coin in the world to contain a fine ounce, or 31.103 g. The Krugerrand gold had quickly a huge success in the US in the early 70s, when the US was prohibited from possession of gold ingots.
At the end of the appartheid in the 1980s, the Krugerrand and took his place, by beating the Maple Leaf and Eagle $ 50 (US gold coins) and the Australian Nuggets.
The Krugerrand name is formed from the merger of the name of Paul Kruger and the South African currency : the rand.