The coin was named after the combination of the name of the former president of the South African Republic, Paul Kruger, and the country’s official currency, the Rand. Since its launch, it has kept its legacy as a reputable and trustable investment option among global investors.
The History of South African Gold Coin Krugerrand
Krugerrand’s story began in 1967 when the South African Mint and Rand Refinery launched bullion coins with a motive to make gold accessible to private investors. Soon after its introduction in the market, the coin got immense recognition worldwide, and in no time, it became one of the most traded coins. One of the most significant factors about the coin was that it had no face value; instead, it was priced according to the current gold value. From 1970 to 1980, the coin dominated the gold bullion market with a command over 90% of the total trading. The manufacturers added 1/12 copper on the coin’s reverse side to make it scratch-resistant and a more reliable option.
Initially, only the 1 Oz Krugerrand gold coins were made and sold. After its worldwide rising demand, the manufacturing of 1/2 ounce, 1/4 ounce and 1/10 ounce also started to cater to various investment requirements. The Krugerrand coin’s global demand among investors made it the world’s most-traded coin of 2016. Over 1 million ounces of coins were successfully sold that year alone.
Since the coin’s first launch, its design elements have not been modified to preserve its originality and recognition. However, in 2017, on the coin’s 50th anniversary, the manufacturers introduced different collectable series of Krugerrand silver and platinum coins.
Rand Refinery reserves the right to distribute bullion or investment Krugerrand coins, whereas The South Africa mint is liable for supplying the collectible ones.
Design Highlights of Krugerrand Gold Coins
The coin’s design has been created using the nation’s valuable components. Here’s what it includes:
The obverse side:
The obverse of the coin is carved with Paul Kruger’s sculpture. He was president of the South African Republic from 1883 to 1900. The portrayal encloses detailing on the hair, beard, face and torso. This side of the coin was designed by the die-engraver Otto Schultz.
On the right side of the obverse segment, you will find a text inscribed in Afrikaans saying, “Suid Afrika,” and on the right side, “South Africa” in English.
The Reverse:
The central segment of the coin’s reverse side features a springbok, the national animal of South Africa. Its jumping ability is the main attribute displayed on the coin. The African sculptor Coert Steynberg designed this side of the coin.
The Aloe Claviflora in the coin is a widely acknowledged aloe grown in South Africa. It is found mostly in the arid parts of South Africa’s Northern, Western, and Eastern Cape provinces.
Above the springbok, “Krugerrand” is engraved, and below the animal, there is a denomination for the coin’s weight: “Fyngoud 1 Oz Fina gold”. The manufacturing year has been written on the middle right and left, split into two parts.
Gold coin Specifications
- Purity level: 22-carat gold, .9167
- Thickness: 2.84 mm
- Diameter: 32.8 mm
- Edge design: Reeded
- Weight: 1 troy ounce or 33.9 grams
Different 1 Oz Krugerrand gold coin Available for Investment
Throughout the journey of over 5 decades, the coin retained the same design in various releases. However, the difference can be seen in the year of release engraved on the coin’s reverse.
For example, in the 1 Oz 2023 Krugerrand gold coin, “20” is written on the left side of the springbok and “23” on the right. Also, the 2023 Krugerrand gold coin is available in BU(brilliant uncirculated) condition. Being in this state means they are untouched and in the best possible condition. Some of the other 1 oz coins to make an investment that dominated the global gold coin market with their release are:
1975 1 oz Krugerrand gold Coins
1979 1 oz Krugerrand gold Coins
1982 1 oz Krugerrand gold Coins
2022 1 oz Krugerrand gold Coins
The Krugerrand coins are released annually, and you can find coins released with over 50 different variations.
Reasons To Invest in Krugerrand Gold Coin
Assured Value
Krugerrand is the sole official currency coin backed by a face value expressed in pure gold ounces. Therefore, you are assured that the South African Reserve Bank will purchase your coins at the ongoing gold prices. Also, the coin holds the title of “The world’s most traded Bullion coin,” demonstrating its significant demand in the market, making trading highly convenient.
Responsible Gold
The Rand Refinery employs environment-friendly, responsible sourcing practices when manufacturing gold coins. The Refinery aligns with the LBMA Responsible Gold & Silver Guidance. It complies with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. We provide certified gold and silver, which means the metals were mined using ethical mining and were not reclaimed from untraceable scrap materials. All the precious metals they provide have a chain of custody through refining that can be traced back to their original sourcing. They hold the below given ISO certifications:
ISO 9001: 2015 – Quality Management System
ISO 14001: 2015 – Environmental Management System
ISO 45001:2018 – Occupational Health and Safety Management System
National Nuclear Regulation (NNR) accreditation
Making A Purchase With Canam Bullion
CanAm Bullion is committed to simplifying the 1 Oz Krugerrand gold coin investment process with an easy-to-buy process and friendly customer support. Not only that, we also provide our customers with the most reasonable prices on every purchase.
Our ample payment options let you pay through your preferred method. The options include transactions through Visa, UPI, MasterCard, Amex, and others.
Before making your investment decision, consult our precious metal experts for the best investment advice. Contact us by phone, message us, or walk into our head office; the choice is yours.
Make a query now to get your hands on one of the most profitable gold coins!
