South African Mint
We sometimes get asked by new customers, “Is the Gold you sell, pure Gold?” It’s sort of a hard question to answer. Let’s take a look at the South African 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 weight of the coin 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 Krugerrands their unique red-like finish.
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 have 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.
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!