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2024 1 oz South Africa Krugerrand Silver Coin (BU)
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The South African Silver Krugerrand 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.
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.
Like other silver coins, the Krugerrand is a product of the government mint and, therefore, has an additional premium. However, the 1 oz pure silver content makes it affordable and a great investment choice. Silver is an excellent inflation hedge and value preservation medium.
Since its introduction, the Silver Krugerrands have sustained a market position among investors and collectors. This demand makes the South African silver krugerrand easy to liquidate, making it easy to sell, trade, and buy.
Whether gold or silver, the Krugerrand coins from the South African Mint are in high demand and have a reputation in the precious metals industry. The South African Mint is highly renowned and trusted for its limited but honed to the perfection of products!
These silver coins are struck while adhering to the South African Mint's highest purity and quality standards. The silver coins are struck from 1 oz of .999 fine silver with a Brilliant Uncirculated (BU) finish.
With the South African Silver Krugerrand Coins, you can diversify your portfolio with the effigy of the former President of South Africa, Paul Kruger, and experience the country's diverse wildlife with the Springboke on the design.
In 1967, the Krugerrand coin was designed to offer private investors easy access to the gold bullion market. The Krugerrand did not take long to achieve popularity, completing a sale of 60 million coins from 1967 until 1980. As such, one can attribute its success to its relatively low price compared to other bullion coins of the period and its distribution throughout many nations. Through the late seventies, every time someone was referring to investment in Krugerrands, he was referring to investment in gold coins as if Krugerrands were gold coins.
Krugerrand purchases were not constant over different years. They were highly popular with investors and collectors in the 1970s but were not in much demand in the second half of the 1970s. However, starting around 1999, their sales increased again.
The mint started with the South African silver Krugerrand range in 2017 to celebrate the 50th anniversary of the Krugerrand coin. When the silver Krugerrand was introduced to the Krugerrand line-up, which was formerly primarily composed of gold coins, the design features of the new product remained loyal to those of the gold Krugerrand.
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 in 2018 to commemorate the 50th anniversary of the Krugerrand's creation. These proof coins feature 60 additional edge grooves compared to regular bullion coins.
The design of the silver Krugerrand is identical to that of its older gold counterpart. It displays Otto Schultz's portrait of Paul Kruger, the former president of the South African Republic. Kruger is significant in the nation's history and democracy, leading the Boers in the Second Boer wars against the British.
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."
On the reverse side of the South African silver Krugerrand coin is Coert Steynberg’s elegant springbok antelope design. As mentioned earlier, the springbok is a symbol strongly related to South Africa. This adored animal is portrayed running across a vast plain with its head in the right direction to give the holder a good view of its face. The date is placed across the figure of the animal at the back of the head and across the hind part of the creature on the face side of the coin.
The coin's name is imprinted on top of the antelope: KRUGERRAND. At the lower part of the rim, the coin has inscriptions in Afrikaans and English for its weight, "FYNSILWER 1 OZ FINE SILVER," and its face value, 1 Rand (R1).
The Silver Krugerrand features a renowned design that resembles its gold counterpart, one of the world's most recognizable bullion coins. The coin contains .999 fine silver, making it a wise investment choice.
BOLD is in the business for over 9 years continuing our grandfather’s 30-year legacy of coin collections and providing exceptional services to our valued customers. For a secure and seamless purchasing experience with the lowest premiums, trust BOLD Precious Metals as your go-to platform for buying S.A. Krugerrand silver coins and other precious metals.
At BOLD, you can now sell your South African Silver Krugerrand or other bullion at the best market prices and with confidence and trust!
