The Legacy of the Gold Krugerrand – It Set the Style and Standard
It could easily be said that no gold coin collection would be complete without a South African Krugerrand. Introduced in 1967 by the South African Mint as a way to market and publicize South African gold, the Krugerrand was the coin that gave all countries the idea to produce their own collectable gold coins. Indeed, it was the success of the gold Krugerrand that made the Canadian, Australian, British, and American mints elect to create their own gold coins.
So what made this coin so special? The gold Krugerrand was a first in many respects. It was the first coin to use exactly one troy ounce of gold, although it’s quality was only 22 karats so the coin itself is comprised of 1.0909 troy ounces of metal – 1 oz. of gold and 0.0909 of copper. The coin was also very unique in its status as legal tender. The vast majority of minted coins today have a face value in addition to the coin’s intrinsic bullion value, however, the Krugerrand did not. It’s legal tender value was the value of the bullion itself. So if one troy ounce is $1000, the coin would have been legally worth $1000.
The scarcity of the Krugerrand also certainly had something to do with its initial popularity. Until 1994, sanctions against South Africa for its apartheid policies made the Krugerrand an illegal import into most Western nations. Hence, the coin had a sort of elusive appeal to it since getting one’s hands on a few of these coins meant instant profits when sold. Considering the gold Krugerrand was only sold by the Mint at at 5% premium, this meant that coins that did show up in the Western world could easily be sold at a handsome profit.
As one can see, the Krugerrand was in a class of its own. It was the catalyst that inspired many governments to launch their own collectable coin minting programs and it was also the first to include the standard one troy ounce of gold. Indeed, the Krugerrand has a tremendous amount of history that makes it a living legend in the gold coin market.
Buy this beautiful gold Kruggerrand at GovMint.com for Gold! Click here!
Current Events- Research: US Mint Gold Coin Sales for January - Signal Return to Fundamental ... - Business Insider February 3, 2012CoinNews.netResearch: US Mint Gold Coin Sales for January - Signal Return to Fundamental ...Business InsiderThe metal used primarily for producing aut […]
- American Gold Eagle Bullion Coin Sales Rally in January - CoinNews.net February 3, 2012CoinNews.netAmerican Gold Eagle Bullion Coin Sales Rally in JanuaryCoinNews.netby Darrin Lee Unser on February 2, 2012 · 0 comments Demand for 22-kara […]
- Gold rises on economic optimism, eyes pullback - Reuters February 1, 2012Gold and Silver Blog (blog)Gold rises on economic optimism, eyes pullbackReutersBullion followed a Wall Street rally after data showed US manufacturin […]
- Bargain Gold: Three Denominations Offer Some Great Values - NumisMaster.com February 1, 2012NumisMaster.comBargain Gold: Three Denominations Offer Some Great ValuesNumisMaster.comAn eagle (gold $10 piece) is worth at least $775. Thus, I' […]
- Gold Prices Jump 11.1% in January Gain, Silver Surges 19.2% - CoinNews.net January 31, 2012CoinNews.netGold Prices Jump 11.1% in January Gain, Silver Surges 19.2%CoinNews.netLike bullion futures in New York, London precious metals rallied in […]
- Research: US Mint Gold Coin Sales for January - Signal Return to Fundamental ... - Business Insider February 3, 2012
Our Sponsors