Buy Krugerrand Silver Coins

The Krugerrand silver bullion coin, produced by the South African Mint, is designed after the precious gold Krugerrand coin that debuted in 1967. The silver Krugerrand coin was released in 2017, drawing inspiration from the gold Krugerrand. Due to its high quality and beautiful visual appeal, it is an attractive option for investors and collectors.

What are Krugerrands?

Krugerrands are valuable coins made from gold and silver and are minted in South Africa through a collaboration between the South African Mint and the Rand Refinery, a company specializing in precious metals refining.

The name "Krugerrand" is a combination of "Kruger," derived from Paul Kruger, South Africa’s first Boer President, who served from 1883 to 1900, and "rand", the country's primary unit of currency.

On one side of the coin, you will find the portrait of President Kruger. On the other side, the national animal of the South African Republic, the springbok, is elegantly displayed. In South Africa, these coins are recognized as legal tender.

Krugerrand Silver Coin

In 2017, the South African Mint released silver Krugerrand coins in honor of the 50th anniversary of the iconic gold Krugerrand. The South African Mint issued the silver Krugerrand in a Premium Uncirculated version, followed by the first-ever bullion silver Krugerrand in 2018. Since then, these silver Krugerrands have gained significant popularity and are now considered highly sought-after annual silver releases worldwide.

Design of Krugerrand Silver Coin

Obverse Design

The design of the silver Krugerrand is identical to that of its older counterpart. It displays Otto Schultz's portrait of Paul Kruger, the third South African Republic President. He is significant in the nation's history and democracy. Schultz's design depicts Kruger in a left-side profile, with his distinctive long, thick beard. The coin's obverse includes inscriptions of the issuing country's name in Afrikaans, "SUID-AFRIKA", and English, "SOUTH AFRICA".

Reverse Design

Coert Steynberg's graceful springbok antelope design graces the reverse side of the Krugerrand silver coin. The animal shows bounding across a field with its head turned towards the right, allowing the holder a clear view of its face. The Springbok is a symbol closely associated with the country that produces the Krugerrand, and South African national sports teams are commonly known as "the Springboks". The coin's date is divided on either side of the animal's portrait. The name of the coin, "KRUGERRAND," is prominently displayed above the antelope. At the rim's lower section, the coin showcases its weight in both Afrikaans and English, labeled as "FYNSILWER 1 OZ FINE SILVER," alongside its face value of "R1" (1 Rand).

Popular Yearly Editions of the Silver Krugerrand Coin

• 2023 Silver 1 oz South Africa Krugerrand BU
  

The 2023 1 oz South African silver Krugerrand coin is a popular embodiment of the iconic Krugerrand series. The coin contains .999 fine bullion-quality silver. This coin marks only the sixth year of its silver availability, following its gold counterpart's legendary success.

On the front side of the coin is a portrait of Paul Kruger facing towards the left, with the words "Suid-Afrika" and "South Africa" written above his image. On the reverse side, the coin portrays a springbok antelope, South Africa's national animal, gracefully leaping across the plains. The word "Krugerrand" is set above the antelope, with "20" to the left and "23" to the right, signifying the year.

Each 1 oz silver coin individually comes in a protective plastic blister. A mint-issued tube holds 25 coins, while a sealed monster box contains 500 coins.

At BOLD, 2022 Silver 1 oz South Africa Krugerrand is also available for sale.

History and Success of the Krugerrand

In 1967, the Krugerrand coin was designed to provide private investors a convenient way to enter the gold bullion market. Its purpose was met with remarkable success, rapidly becoming the preferred gold bullion coin globally. Surpassing all expectations, it achieved tremendous success. The Krugerrand quickly got famous, with an impressive 60 million coins sold between 1967 and 1980 alone. Its triumph can be attributed, in part, to its affordability compared to other bullion coins of that era and its widespread availability across numerous countries worldwide. By the late 1970s, "Krugerrands" was commonly synonymous with "gold coins", indicating that investing in Krugerrands implied a collection of gold coins.

The demand for Krugerrands fluctuated over time. They were immensely sought after by investors and collectors in the 1970s but fell out of favor in the latter part of the decade. However, around 1999, their demand rose again. Originally designed for gold investors, Krugerrands gained global fame in the 1970s, becoming a preferred choice. Their simplicity and accessibility made them widely accepted and popular worldwide.

In honor of the 50th anniversary of the classic Krugerrand coin, the mint launched the silver Krugerrand range in 2017. As a new addition to the Krugerrand family, which traditionally consisted of gold coins, the silver Krugerrand retained the iconic design elements of its gold counterpart. The obverse side features a portrait of Paul Kruger, the former president of the South African Republic. The reverse side showcases a majestic springbok antelope, a cherished national symbol of South Africa. These designs have remained consistent with the Krugerrand series since its introduction.

The silver Krugerrand coins are made from .999 pure silver and carry a face value in South African Rand (ZAR). However, their value is determined by their silver content and current market prices rather than their face value.

A proof collectible version of the coin was minted in platinum to commemorate the 50th anniversary of the Krugerrand's creation in 2018. These proof coins feature 60 additional edge grooves compared to regular bullion coins.

About The South African Mint

The South African Mint, commonly known as the South African Mint Company, is the national mint of South Africa. Its origins trace back to 1890 when it was initially established as a branch of the Royal Mint in London, boasting a long and storied history. Created to mint coins for the South African Republic, it underwent ownership changes before becoming a subsidiary of the South African Reserve Bank in 1988.

Located in Centurion, near South Africa's capital city of Pretoria, the mint operates from a modern facility equipped with advanced minting technology. It produces the country's circulating coins, including the Rand currency denominations and various commemorative and collector coins that celebrate South African history, culture, and important events.

Among its most renowned products is the Krugerrand, the world's first modern bullion gold coin, promoting South African gold and making gold investments accessible to private individuals. The mint expanded the Krugerrand series to include the silver Krugerrand.

The South African Mint is renowned for its dedication to excellence and advancement. By utilizing cutting-edge technology and incorporating sophisticated security measures, it guarantees the genuineness and integrity of its coins. The South African Mint collaborates with other mints worldwide for joint coin projects, working with Australia, Canada, and the UK.

Apart from coin production, the mint provides numerous numismatic services, such as coin authentication, grading, and restoration.

S.A. Mint allows collectors to access a diverse selection of numismatic products and services. Its exceptional artistry, historical importance, and commitment to producing top-notch coins have established its prominent standing in the bullion sector.

Buy Krugerrand Silver Coin with BOLD

The Silver Krugerrand features the renowned design that rendered its gold counterpart one of the world's most recognizable bullion coins. The silver Krugerrand coin contains .999 fine silver, a wise investment choice. Silver Krugerrand is one of the world’s most recognizable collector’s coins with exceptional quality.  

For a secure and seamless purchasing experience with the lowest premiums, trust BOLD Precious Metals as your go-to platform for buying Krugerrand silver coins and other precious metals. Start your silver collection and investment journey now, cherishing the coin's visual appeal and inherent value.

FAQs

1. Are Silver Krugerrands worth it?

The government-backed and well-known name of Silver Krugerrands makes them highly accessible for buying and selling. These coins boast a distinctive security feature, ensuring their legitimacy. Upon careful examination, one can find the micro text "Krugerrand" in the mountains behind the antelope beneath its hoofs.

Silver Krugerrands are a favorable alternative to other silver coins as they include the equivalent amount of silver and have the assurance that they're government-minted. Krugerrands are easier to acquire due to lower premiums, are simple to liquidate, and have security features to assure authenticity.

2. Is the Silver Krugerrand an Official Coin of South Africa?

Yes, the silver Krugerrand is an official coin of South Africa. The South African Mint, a South African Reserve Bank’s subsidiary, produces it.

Is the Silver Krugerrand Suitable for Investment?

Yes, the silver Krugerrand remains a favored option among investors and collectors. It provides an opportunity to invest in physical silver and can be a part of a diversified investment portfolio. As with any investment, conducting proper research and understanding the market dynamics before purchasing is essential.

3. What is the legal tender value of the Silver Krugerrand?

The silver Krugerrand holds the status of legal tender in South Africa. However, its face value is symbolic and does not reflect the silver content's value. The coin's intrinsic value depends on the current market price of silver.

Happy to Help!

For any concerns or queries, feel free to call or email us.

Phone:  1-(866)454-BOLD

Email: [email protected]