The Krugerrand
About The Krugerrand Coin
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.
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.