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The Krugerrand

The Krugerrand  is a South African gold coin, first minted in 1967 to help market South African gold and produced by the South African Mint. By 1980 the Krugerrand accounted for 90% of the global gold coin market. The name itself is a compound of Kruger (the former South African president depicted on the obverse) and rand, the South African unit of currency. During the 1970s and 1980s some western countries forbade import of the Krugerrand because of its association with the apartheid regime of South Africa, notably the coin’s largest market of the United States in 1985.[2]
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About Coin

About The Krugerrand Coin

Production levels of Krugerrands have significantly varied during the last 50 years. From 1967 to 1969, around 40,000 coins were minted each year. In 1970, the number rose to over 200,000 coins. More than one million coins were produced in 1974, and in 1978 a total of six million Krugerrands were produced. Following the end of apartheid, the production dropped to 23,277 coins in 1998 and since then levels have increased again, albeit not reaching pre-international sanction levels.
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Obverse The Krugerrand Coin

Design : 1984 by Otto Schultz – Profile of Paul Kruger with “SUID-AFRIKA·SOUTH AFRICA” in the legend.

Reverse The Krugerrand Coin

Design : 1984 by Coert Steynberg – A springbok antelope with the mint date in the field. The legend is inscribed with “KRUGERRAND” and the gold weight.

 

Gold IRA, Silver IRA, Precious Metals IRA, Buy Gold, Buy Silver, Invest In Gold, Invest In Silver, Gold Investment, Silver Investment, Precious Metals Investment, Gold Home Delivery, Silver Home Delivery, Platinum Investment, Palladium Investment, Diversify Retirement Portfolio, Hedge Against Inflation, Safe Haven Investments
Coin Weights

NA

Specification

South Africa
Value :
1 troy oz. fine gold
Mass :  33.93 g (1.09 troy oz)
Diameter : 32.77 mm (1.28 in)
Thickness : 2.84 mm (0.11 in)
Composition :  Gold (91.67% Au, 8.33% Cu)
Years of minting : 1967 – present

Frequently Asked Questions

FAQs

There are three important reasons to consider American Gold Metals Inc. After acquiring your precious metals, we provide a follow-up service designed to keep you informed on economic and/or geopolitical events that could affect the gold or silver market. Keeping you informed in real time allows you to be proactive in your decisions.
Second: We are a member of NGC (Numismatic Guarantee Corporation), PCGS (Professional Coin Grading Service) and ANA (American Numismatic Association). We are also a company with decades of precious metals experience. We believe that integrity still matters and our record of service to our clients is a priceless commodity.
Finally by substantially reducing overhead costs, and running a more efficient, customer oriented business, we are able to provide the very best prices for precious metal products.

Setting up a precious metals IRA involves several steps:
1. Choose a custodian: Select a reputable custodian specializing in self-directed IRAs that handle precious metals.
2. Fund the account: Transfer or rollover funds from an existing IRA or 401(k).
3. Purchase metals: Work with a dealer to buy IRS-approved precious metals.

History

The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. It was minted in a copper-gold alloy more durable than pure gold. Economic sanctions against South Africa for its policy of apartheid made the Krugerrand an illegal import in many Western countries during the 1970s and 1980s. These sanctions ended when South Africa abandoned apartheid in 1991.[3][4][5]

By 1980 the Krugerrand accounted for 90% of the global gold coin market.[6] That year South Africa introduced three smaller coins with a half troy ounce, quarter ounce, and tenth ounce of gold.[7]

Over 50 million ounces of gold Krugerrand coins have been sold since production started in 1967.

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