1 oz Gold KrugerrandsOn July 3, 1967 the South African Mint in Pretoria issued first Gold Krugerrands. A new concept was at the bottom of this:
These coins could be used as circulation money; however they did not bear a nominal value. Instead, the exchange rate at which South African banks traded Krugerrand coins was fixed daily, according to the price of gold. So from the start the Krugerrand was conceived as a bullion coin of changing value.
Gold Krugerrands were designed to circulate as a medium of exchange in place of a paper currency. The Gold Krugerrands were minted in 22 Karat gold instead of 24 Karat gold to make them more durable for circulation and trade. Gold Krugerrands have no legal face value - they are traded and priced solely on the spot price of gold and current market premiums over spot. The success of the Krugerrand inspired the minting of other legal tender coins including the Canadian Gold Maple Leaf, the Austrian Philharmonic, and the American Gold Eagle. The Gold Krugerrand derives its name from two sources: the first half of the name Krugerrand is named for the Boer Statesmen Paul Kruger, a four-term president of the South African Republic. The second half of the Krugerrand name is derived from the monetary unit of South Africa, the rand. The Gold Krugerrand is known for its elegant design. The obverse design of the coin was based on Paul Kruger, the four-term president of the South African Republic. The reverse side of the Gold Krugerrand displays the national symbol of South Africa, the Springbok, which was designed by Coert Steynberg. The Gold Krugerrand is 22 Karat gold with one ounce of gold content per coin. Gold Kregerrands weigh 1.0909 ounces and have 2.826 grams of copper alloy mixed in to give the Krugerrand more durability and resistance from scratches or dents.
Inflation-Proof Investor's wholesale deal outline:Minimum Purchase: 50 OZMaximum purchase: 4000 OZ per day. Source of supply: Direct from Rand Refinery Ltd/SA MINT Price: LBMA FIX + 5,5% (Not including transportation).
Advantages of the South African Gold Krugerrands:• Krugerrand gold coins were the number one gold coin in the 1970's and early 1980's, which makes them well recognized and respected all over the globe.• Krugerrand gold coins are of 22 Karat purity giving it a more durable surface. • The Gold Krugerrand has no official face value - they are traded based on the world market price of gold. • The Gold Krugerrand has a high level of recognition in Asia and Europe. • The Gold Krugerrand is extremely liquid and easy to trade internationally. • The Gold Krugerrand has its '1 OZ FINE GOLD' content stamped in English directly on the coin. About Silver Krugerrands Buy Gold Krugerrands at the Best Price Return from Gold Krugerrands to Best Gold Bullion Market Deals |
