Krugerrand Gold Coins - South African Gold
Krugerrand Gold Coins - South African Gold
Krugerrand gold coins were one of the first investment coins in existence and were introduced to the world in 1967..They were in fact first introduced because the coins were actually intended to circulated as a currency in South Africa.
As a result of this, the Krugerrand gold coins is minted with a copper alloy which makes the coin far tougher and much more durable. Giving the Krugerrand there famous orangy tinge.
The coin did possess “legal tender status” which meant that any import tax or duty was waived by most countries however, there was a problem..
Due to the apartheid between the 1970′s and the 1980′s, most western countries made it illegal to import the Krugerrand gold coin because doing so would show support for the ongoing apartheid in South Africa during this time.
Obviously, when the apartheid was abolished in 1994, so too were the sanctions imposed on the Krugerrand gold coins and trading could resume on a worldwide basis.
However, despite the sanctions imposed on them, the Krugerrand gold coins still made up a huge 90% share of all coins in circulation in 1980..This was until other countries brought out their own bullion coin alternatives.
Examples include the Australian nugget, the British Britannia, the Canadian maple leaf and, of course, the American eagle.
The appearance of the Krugerrand gold coins are more orange colored when compared to your typical bullion coin and this is due to the fact that, as mentioned before, they were intended for circulation as a currency. 8.33% of this coins weight is copper (which gives it the orange look), with the rest being made up by of pure gold. This also makes the coin far harder wearing than other coins.
The Krugerrand gold coin is named as such because on its obverse you’ll see an image of Paul Kruger who was a Boer statesman and president for four terms in South Africa. The flip side of the coin reveals one of the South African national symbols..the Springbok!
If you’re looking to get your hands on a Krugerrand coin, I’d recommend going online for the widest range of options. Particularly, a site called bullion411.com is a fantastic source of information for all gold bullion coins.
Not only that, you can also bid on krugerrand gold coins in an auction fashion which means you are almost guaranteed a great deal on all bullion coins that you buy. You are sure to find plenty of Krugerrand gold coins for sale for investment or collection purposes.
The Norweb Collection of Canadian and Provincial Coins - Auctions By Bowers and Merena, Inc., Nov 15, 1996
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