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SOUTH AFRICAN GOLD KRUGERRAND
1 oz Gold Krugerrand Coin Purity
We sometimes get asked by new customers, “Is the Gold you sell, pure Gold?” It’s sort of a hard question to answer without sounding like scam artists hawking clad bullion. Let’s take a look at the South African Gold Krugerrand to help better explore that question.
In terms of dimensions, a Gold Krugerrand is 32.7 mm in diameter and 2.84 mm thick. The Krugerrand’s ACTUAL weight is 1 and 1/11 troy ounces or 33.93 grams. This is because the metal composition is made up of a Gold Alloy designed to be durable enough for circulation (handling). The actual pure Gold composition makes up for just over 91% of the coin's weight and the remaining 1/11th of an ounce is made up of Copper. This means the ACTUAL weight of Pure Gold within this coin is one troy ounce. It’s also what gives the Gold Krugerrand's their unique red-like finish. The color and finish on other coins with similar ally compositions may appear different, this is because the metallurgy used to make the planchet may differ in metal composition.
The Gold Krugerrand’s metal composition and some of the other sovereign Gold coins such as the American Gold Eagle is not 100% (or .999% per industry standard) pure BUT is considered 'Fine Gold,' and the actual weight of pure Gold is present. This does no dissuade investors from buying these coins, in fact, the Gold Krugerrand and American Gold Eagle are the MOST popular Gold coins in the world.
Rand Refinery
- About the South African Mint
The Gold and Silver Krugerrand coins are minted by the South African Mint in South Africa. It is wholly owned by the South African Reserve Bank (SARB) and since 1967 has produced over 50 million ounces of Gold. 25 million of which have been imported and sold to investors right here in The United States. The Krugerrand is named after Paul Kruger who was a four-term president of the old South African Republic. The word ‘rand’ is used in South Africa as a measure of their currency.
The front (or head side) of the coin displays an effigy of Paul Krugerrand who, in modern progressive times, is a controversial figure. According to historical documentation, in his time though, he was affectionately referred to as ‘Uncle Krugerrand’ which is apparently quite the title to receive. His history as a former South African president and military commander is diverse with multiple campaigns in a Civil War and notable conflicts against the British. The obverse (or tails side) displays a Springbok which looks like a smaller type of Impala. These animals are like a mix of a Deer and Goat and serve as a symbol of strength and agility for South Africa.
Up close photo of a 1/2 oz Gold Krugerrand taken by Investor Crate staff at one of our facilities in Southern New Hampshire.
It is often said that all Gold leads to the Rand Refinery, this was especially true after South Africa ended the apartheid. During these events, western Governments (including the United States) imposed sanctions that actually made ownership of the Gold Krugerrand's illegal. Once these were lifted, the global demand for the bullion coin rose by over 200% bringing their normal production from 40,000 units to nearly 200,000 troy ounces annually.
In more recent times mintage numbers have held strong with even ‘limited runs’ for their 50-year (1967-2017) anniversary privy yielding over 100,000 (22-karat) troy ounces of the 1 oz Gold Krugerrand coin. This still does not hold a candle to their 1978 mintage number of over 6,000,000 Gold coins minted. Though modern times bring more advanced refinement techniques and newer products such as Bars contained in Assayer Sleeves. The Rand Refinery has recently begun manufacturing some amazing pressed and cast Gold and Silver Bars such as their “Mirage” series of bullion.
Even more exciting and as a tribute to the 50th anniversary of the iconic Gold Krugerrand, in 2017 the first 1-ounce Silver Krugerrand was struck for a mintage of 1,000,000 coins. These coins are absolutely amazing, to say the least. The South African Mint uses the purest of Silver and the latest technology to press and strike an absolutely stunning specimen. The best part is you could find a couple of these in your Investor Crate!
Similar Bullion Items from The South African Government
Rand Refinery
- The 1 oz Silver Krugerrand (2017-present)
- The 1 oz Gold Bar (Mirage Edition)
- The 1 oz Silver Bar (Mirage Edition)
- The 1 oz Gold Bar (Loxodonta)
- Cast Gold Bars (All sizes for large investment portfolios)
- The 1 oz Gold Bars (RANDSECURE)
- Other Rand Products such as these and others can be found in our combination crates. Each month something new arrives, so make sure to nab a stack or two of each kind!
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Thanks for the info
I have been buying Krugerrands for a few years
I have purchased many Krugerrands over the years but have stopped due to South Africa’s partnerships with China and Russia.
Very interesting article as usual – thanks for sharing!
I love that gold!