What is a Krugerrand?

What is a Krugerrand?

Millions of Kurgerrands have been sold worldwide and often used for investment purposes but also considered legal tender in South Africa.

The value is primarily based on its weight and purity since no face value is given. the Krugerrand was introduced as a way to market South African gold globally during a time when international trade in gold was restricted.  It was minted July 3, 1967.  By 1980, the Krugerrand accounted for 90% of the global coin market.  

The Krugerrand is named after Paul Kruger (1825-1904), the former president of South Africa and the rand which is South African currency.  He is known for his support foreign mining, 

This unique coin holds a prestigious status as the world's first ounce-denominated gold bullion oin and has paved teh way for the creation of similar coins worldwide.  It's rich history, timeless design, and enduring value continue to make it a sought-after addition to investment portfolio and coin collection. And it is among the most recognized throughout the world gold coin market.  The value of a Krugerrand is based on 1 Troy ounce of fine gold.

The antelope pictured on the coin is the Springbok, which holds cultural significance in South Africa and is featured on various national symbols including sports teams.  It's inclusion emphasizes its importance as a symbol of South African identity.


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