South African Krugerrand Gold Coins
South African Gold Krugerrand has the richest history in the world of gold coins. It is a 22-karrat coin weighing almost 33.93 grams. It comprised of 2.86 gram of copper alloy which makes it durable and resistant to scratching while one troy ounce of pure gold. This coin has thickness of 2.74mm and a diameter of 32.6mm. There was a time when Gold Krugerrand was only choice for private investment. We will be talking all about its rich history and coin from investment point of view. So, let’s start, South African Gold Krugerrand has a complex history. Debuted in 1967 the coin was used by the South African government to promote precious metal, gold and gem reserves in the country. However, the Krugerrand became the first modern gold bullion coin which was used as private investment. This coin is 1 ounce with 22-karrat gold content having total weight of 33.93 gram and the current Krugerrand gold coin price is $1902 USD / $2654 AUD.
Although it became popular but in 1970sits availability suffered a lot because of western economic sanctions. Since at this time south Africa was ruled by white minority government therefor systems were out in place so that native black population could not control land or could represent themselves. As a result, to break free South Africa from this system western governments adopted hard boycott policies for south African goods. Even though the Krugerrand was able to get out of south Africa and into hand of north Americans but other gold coins which westerns could have buy was suffered due to which the Krugerrand demand sky rocketed from 1967 to 1979 and about 22 million of them were sold in this period and it was after 1979 that other coins were introduced in the market
One of the most recognizable and oldest gold bullion coin in the world today is Krugerrand Gold coin, carrying with its qualities of portability, investment liquidity and beauty. While a vast number of gold coins are available worldwide today, South African Krugerrands have the legacy of being the first one troy ounce gold bullion coin issued as “Legal Tender” and valued based its gold content intrinsic value, rather than the face value. Let’s talk from investor point of view. Today Krugerrand is considered as one of the most recognizable and oldest gold bullion coin. It has all those qualities that an investor looks for in a coin. Liquidity, beauty and portability. Did you know that, among all the other coins in the market, Krugerrand was the first coin issued as “Legal Tender” by the government and its value is based on its intrinsic value rather than face value which is makes it a great opportunity from investor point of view. You can visit the Gold News website for more information on South African and global investment coins.
Like other coins, Krugerrand is released in special proof edition only for coin collector. Any Coin collector will love this coin since the past rich history makes this coin un resistible to buy. This coin has smooth mirror like finishing and is considered more valuable than other coins. Proof edition coins mostly trade at more premium as compare to their counterparts. This is why they should be handled with care and precautions taken to maintain their condition.