Gold Krugerrand Price History
How To Invest In South African Krugerrand Coins
Interested in finding a profitable way to invest your cash? Why not invest in coins? Today, many are investing in precious metals like gold, silver and platinum coins because it is known to be an excellent hedge against inflation. One of the best selling coins today is the South African Krugerrand. This coin derived its name from Paul Kruger. Paul Kruger was the last president of the South African Republic. Apparently, it is also the image of Paul Kruger that is stamped on the coin.
On the reverse side of the coin is the figure of a springbok antelope. The antelope is the national symbol fo South Africa. To add to its popularity, the word “Krugerrand” is the registered trademark of the Rand Refinery Limited of South Africa. The Rand Refinary is one of the world’s largest gold refineries.
The South African Krugerrand coin has a very meaningful history. Back then, war and greed prevails the Afrikaans Witwatersrand. This is the place where the gold was found in 1884. Miners see the opportunity in this great land. By the year 1899, the British Empire sought equal rights for the miners and Boars. Thus, it leads to the beginning of the Boar War or Freedom Wars. The war finally reached its end and by 1920, the Rand Refinery was established to manage all South African gold.
Moreover, the South African Krugerrand was the first ever manufactured 1-ounce gold bullion coin. It was minted and circulated as a legal tender. Since its first production in 1967, it has become almost synonymous with the gold bullion. In that point in time, U.S. citizens are prohibited to own gold bullion except for legal tender coins. The Krugerrand fortunately was legal for Americans to possess. By the year 1980, according to scholars, approximately 90 percent of the Krugerrand is circulating the gold bullion market.
This infamous coin is considered as the pioneer for legal tender coins. After it was minted and successfully circulated, Canada released its Canadian Gold Maple Leaf. Australia on the other hand, released its Australian Nugget and the US with its infamous Gold Eagle. Today they are among the most recognized gold bullion coins. They are traded and collected across the globe.
If you want to invest in this coin, you are making a clever decision. You must know that the Krugerrand is a favorite choice among gold investors both beginners and experts because this coin sells with low premiums over spot price. Not like the American Gold Eagles which often have high premium. The latter also is more expensive than the Krugerrands, and they essentially have the same amount of gold in them. One can easily purchase Kruggerand online via a trusted gold trade website or through decent dealers who buy and sell gold coins.
Among the one ounce gold bullion coins, the Krugerrands are the most popular. They are also available in different quantities. Minting companies released the 1/10 Krugerrand coin version during the 1980′s. People still fancy this version and it is one of the most coveted coins in the gold market. Just a basic fact about the 1/10 Krugerrand coin, it is the smallest of all Krugerrand coins with a diameter amounting to 16.55 millimeters and thickness equivalent to 1.35 meters. It has a 91.67 gold purity and it consists of 3.110 grams of gold.
The Krugerrand coin is designed with a copper tone appearance. It is distinct with its well-defined luster. The copper color comes from the copper alloy that is incorporated with the 22 karat gold.
Before investing in the Krugerrand, be sure to read everything about this coin. Learn the different specifications of the coin and know if the selection of coins is for sale. Knowledge is indeed power and do not risk your money without studying where and how to buy coins.
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