Buy South African Krugerrand Coins

The Krugerrand, a product of Rand Refinery and the South African Mint,  is a South African currency that was minted initially on July 3, 1967, to aid in marketing South African gold. The name combines Paul Kruger, the previous President of South Africa (seen on the obverse), and the rand, the South African money unit. The Krugerrand features a springbok, South Africa's national animal, on the reverse side. By 1980, the Krugerrand had captured over 90% of the global gold coin market and was the top choice for gold investors. However, during the 1980s and 1990s, Krugerrands went out of favor as various western countries prohibited the import of the Krugerrand due to its link with South Africa's apartheid government. Although gold Krugerrand coins have no face value, the South African Reserve Bank Act (SARBA) of 1989 declares them legal currency in South Africa. The Rand Refinery began minting silver versions with the same overall design as the gold coin in 2017.

History of South African Krugerrand

South Africa issued three smaller coins with 1/2, 1/4, and 1/10 troy ounces (15.6, 7.8, and 3.1 g, respectively) of gold in 1980. The United States, which had previously been the coin's most significant market, barred imports in 1985; the previous year, nearly US$600 million in Krugerrands were sold in that country. Most sanctions were lifted in 1991 when the South African government moved to eliminate apartheid. Since manufacture began in 1967, about 50 million ounces of gold Krugerrand coins have been sold. 

Enormous Success of Gold Krugerrand 

During the 1970s gold bull market, the gold Krugerrand swiftly became gold investors’ first option. It is estimated that 22 million gold Krugerrand coins were imported into the United States between 1974 and 1985. In addition, the Krugerrand's enormous success prompted other gold-producing countries to mint and issued their gold bullion coins, such as the Canadian Gold Maple Leaf in 1979, the Australian Nugget in 1987, the Chinese Gold Panda in 1982, the American Gold Eagle in 1986, and the British Britannia coin in 1987.

Design of South African Krugerrand 

The coin is so named because the obverse, created by Otto Schultz, depicts Paul Kruger, four-term president of the former South African Republic. The reverse features a springbok, South Africa's national animal. Coert Steynberg designed the image, which was previously used on the back of the South African five shillings (1947-51 and 1953-59) and 50 cents (1961-64). The words "South Africa" and "gold content" are written in both Afrikaans and English (as can be seen on the pictures of the coin). Rand Refinery Limited of Germiston has the registered trademark "Krugerrand."

South African Krugerrands 50th Anniversary (1967–2017)

To commemorate the 50th year of issuance (1967-2017), the South African Mint issued "Premium Uncirculated" versions in gold (.916 or 22 carats) and, for the first time, platinum (.999 fine) and silver (.999 fine). The issue limit for these commemorative platinum, gold, and silver coins was 2,017 platinum coins, 5,000 gold coins, and 1,000,000 silver coins. 

The commemorative issues are identified by a '50' privy seal mark above the springbok design on the reverse for platinum and silver issues and to the right of the springbok design for gold issues. In addition to the "Premium Uncirculated" series, 15,000 silver "Proof" Krugerrands were minted, as well as gold and platinum "Proof" Krugerrands.

Why buy from BOLD?

Including precious metals as a part of an investment portfolio is a great way to solidify your portfolio. There are many online dealers, but one should always go with a trusted dealer that has the best prices, the highest quality, and the best customer service. BOLD Precious Metals has the most consistent low prices, availability, and great customer service. Why shop anywhere else?

Affiliation with the most trusted coin service providers

BOLD is proud to be affiliated with the best bullion-related service providers in the world, including:

• The Jewelers Vigilance Committee (JVC), whose focus is to educate and encourage legal compliance through a greater understanding of laws and regulations that apply to the jewelry industry. 

• Numismatic Guaranty Company (NGC) and Professional Coin Grading Service (PCGS) are two of the world’s largest and most trusted third-party coin grading service providers. 

• CyberSource and PayPal, are single platform solutions that accept payment worldwide that are secured by industry-standard automated fraud protection.