Krugerrand Gold Coins
What is Krugerrand gold coins?
The South African Krugerrand gold coin is one of the most trusted and sought-after gold coins in our industry. Introduced in 1967, the Krugerrand is considered to be the oldest regularly minted Krugerrand 1 ounce gold coin for buying, selling or trading. South Africa considered the value of the coin to be the current spot price of gold. This was a deliberate decision by the government, as it wanted to encourage investment in gold.
No gold bullion coin in the world has a longer history than the Krugerrand gold coin. Produced by the South African Mint, the Krugerrand South African gold coin is named after the country’s fifth president, Paul Krueger. In this day and age, there are many gold coins from different countries to invest in. This was not the case at the time. The Krugerrand gold coin was the only choice for private investment. A distinctive feature of the Krugerrand is that it is not minted with a face value. Nevertheless, its historical value makes it unique. This means that these coins are traded only by their weight in gold bars (i.dem melting value of their gold content).
Technical features Krugerrand Gold
Krugerrand Gold Bullion Coins
|
Category |
1 ounce |
1/2 ounce |
1/4 ounce |
1/10 ounce |
|
|
Gold |
Troy ounce |
1.000 |
0,500 |
0.250 oz |
0.100 oz |
|
Gram |
31.103 |
15.552 |
7.776 |
3.110 |
|
|
Fineness – Gold Purity* |
% |
91.67 |
91.67 |
91.67 |
91.67 |
|
Gross weight |
Gram |
33.930 |
16.965 |
8.482 |
3.393 |
|
Remedy |
Gram |
+ 0,007 |
+ 0,035 |
+ 0,02 |
+ 0,01 |
|
.max. Diameter |
Millimetre |
32.77 |
27.07 |
22.06 |
16.55 |
|
Min. Diameter |
Millimetre |
32.61 |
26.93 |
21.94 |
16.45 |
|
Maximum thickness |
Millimetre# |
2.84 |
2.215 |
1.888 |
1.35 |
|
Minimum thickness |
Millimetre# |
2.74 |
2.115 |
1.788 |
1.25 |
|
corrugated edge serrations |
Number |
180 |
150 |
140 |
115 |
|
First edition |
Year |
1970** |
1980 |
1980 |
1980 |
Legend : * : The standard fineness of 91.67% corresponds to an alloy of 11/12 gold and 1/12 copper. ** : 1970 refers to the date of mass production of the Krugerrand. Proof and proof-like versions were introduced in 1967. # : Before 1976: Thickness of 1 ounce coins: maximum 2,972 mm, minimum 2,870 mm. 1976 to February 1979: Thickness of 1 ounce coins: maximum 2,800 mm, minimum 2,740 mm.
Background of the South Africa gold coin Krugerrand
The coins were introduced in 1967 as a means of the South African government to promote the country’s precious metals and jewelry reserves. The Krugerrand performance quickly gained popularity and was the first modern gold bullion coin to exist. The Krugerrand gold coin was minted in 1 troy oz with 22 carat gold content. For a period of nine years (1970-1979), the Krugerrand was the only gold bullion coin in ounces available on the international market.
The 1970s were marked by Western economic sanctions. Western governments imposed a strict boycott of South African goods. In those years, South Africa was ruled by a white minority government. The apartheid system prevented the native black population from gaining control of the country, rising in society, and adequately representing themselves in government. Although the Krugerrand gold coin continued to leave South Africa and find its way into the hands of North American and European buyers, it was not until after 1979 that other gold coins were introduced that were more readily available to the West. Between 1979 and 1989, the Canadian Gold Maple Leaf, the Chinese Gold Panda, the American Gold Eagle, the British Gold Britannia and the Austrian Gold Philharmonic were introduced as further options for gold buyers.
Designs of the South Africa Krugerrand coin
The South African Krugerrand coin has long used the same design elements on the obverse and reverse. The strikingly detailed design pays homage to the political and natural heritage of all South Africans. The only change that has occurred in the more than fifty years of production is the modernization of the illustrations on both sides. To this day, the South African Krugerrand coin features the following design elements:
Front:
Left profile portrait of Paul Krüger with the inscription “Suid-Afrika” in African and the English translation “South Africa”. As the leader of South Africa, Kruger defended his country’s interests in the Second Boer War against Britain in the late 19th century. Later, Kruger served as President of the South African Republic. Krüger held the presidency for nearly two decades and served in government for more than 40 years. Its name was combined with the South African currency, the rand, to form the name Krugerrand. The current design was created by Otto Schultz.
Back cover:
On this side of the coin, the springbok antelope, the official symbol of the modern Republic of South Africa, is depicted running at a running pace. The springbok is an exclusively African antelope and has been chosen as a symbol for all African wildlife. The springbok depicted running was first depicted by Coert Steynberg on a 5-shilling coin in celebration of the British royal family’s visit to South Africa in 1947. In addition, the year of issue, the inscription “Krugerrand” and the fineness of the coin are depicted on this page. Coert Steynberg modernized this design in 1984.
What is a Krugerrand worth?
The South African Krugerrand is a 22-carat gold coin weighing 1.0909 ounces (or 33,930 grams). Each coin is made of a 2,826 gram copper alloy, which provides increased durability, scratch resistance and a unique orange-gold coloration. The golden Krugerrand is 2.75 mm thick, 32.6 mm in diameter and 0.9167 mm thin. The edge of the coin is marked with 180 points.
Production of South African gold Krugerrand
When it was introduced in 1967, the South African gold coin Krugerrand was produced in very limited numbers. This production was limited to 40,000 coins per year from 1967 to 1969. In 1970, the increasing demand and popularity of the Krugerrand coin prompted the mint to produce a higher number of pieces. Thus, in 1970, 200,000 coins were issued. By 1978, this number had been increased to 6 million coins. The decline in production in the years after apartheid is striking. In 1998, only 23,277 Krugerrand coins were minted. The Krugerrand coins are produced by the Rand Refinery. The Rand Refinery is the world’s largest gold smelting and refining complex owned by the South African Central Bank. South Africa was considered the largest gold-producing country in the 20th century. For this reason, the Rand Refinery was founded in 1920 by the Transvaal Chambers of Mines with the aim of better refining all the gold mined. Since the opening of the refinery in December 1921, more than 40,000 tons of newly mined gold have been refined, representing about 25% of the world’s mined gold. The Rand Refinery has produced more than 60 million Krugerrand 1 oz gold coins. Since 1970, Rand Refinery has also been responsible for accepting orders and payments and organizing the worldwide delivery of Krugerrands.
Variations of the Gold Krugerrand
The South African gold coin Krugerrand was minted as a 1 ounce Krugerrand coin. This was not the only option, as the Krugerrand became very popular in later years. In 1980, the Krugerrand gold coin alone held 90 percent of the global gold coin market. As a result of this success, the South African Mint expanded the collection to four versions of 1/2 ounce gold Krugerrand, 1/4 ounce gold Krugerrand and 1/10 ounce gold Krugerrand. All four versions were produced with a gold content of 22 carats (91.67%). In 2017, on the occasion of the 50th anniversary, the first 1/50 ounce of gold Krugerrand was issued and added to the annual series. In 2016, the Rand Refinery issued a silver version, the Krugerrand silver coin. The Krugerrand platinum coin, on the other hand, was issued in 2017.
Golden Krugerrand Magnitude
- 1 oz Krugerrand
- 1/2 oz Krugerrand
- 1/4 oz Krugerrand
- 1/10 oz Krugerrand
- 1/50 oz Krugerrand
What are the benefits of owning gold Krugerrands?
- 1 oz of Krugerrand contains 1 troy ounce (1oz) of asset-grade gold.
- Buying or selling Krugerrand is exempt from VAT in Germany.
- The Krugerrand gold coin is endorsed by the South African government.
- The Rand Refinery and the South African Mint are renowned international refineries and mints.
- Krugerrand coins are available at competitive prices and markups.
South Africa Gold Krugerrand History of the Mint
The “Krugerrand” is a product of the South African Mint, a private mint in South Africa that works with the South African Reserve Bank. The South African Mint is located in Centurion in the province of Gauteng near the city of Pretoria. It was founded in 1890 as South Africa’s first national mint. In 1923 it became a branch of the Royal Mint of Great Britain, and in 1941 it returned to the status of an independent mint. It works with the Rand Refinery to produce Krugerrands gold. The Rand Refinery was established in 1920 to refine South African gold and owns the Krugerrand brand. To date, more than 50 million Krugerrand gold coins have been minted and sold to buyers and collectors of gold bullion coins around the world.
What is the Krugerrand price development?
1 oz Krugerrand price in gold is calculated from three components:
- Gold spot price: This is the price of 1 ounce of pure gold Krugerrand, available for immediate delivery or “on-site” delivery. It is usually determined by the best bid for gold, which is traded globally in real time and offered by major gold banks.
- Weight and purity of gold: The Krugerrand gold coin has a fineness of 0.9167 (purity), but the total weight of the coins is 1.0909 ounces, so each coin contains exactly 1 troy ounce of pure gold.
- Gold price premium: The Krugerrand price is also influenced by supply and demand and the amount of gold purchased.
The Krugerrand value consists of the competitive price, high popularity and international liquidity. They are considered a portable store of value and an important form of financial security. Buying the Krugerrand is one of the best ways for gold buyers and investors to own physical gold. For more than 50 years, the Krugerrand Performance has protected gold owners from national and international financial and currency risks.
How much does a Krugerrand cost? Is it worth buying Krugerrand?
Although these gold coins do not have the fineness of 0.9999 like many other coins on the market (since they are made from 22-karat gold), some collectors may be hesitant to buy Krugerrand and invest in this particular coin. However, it is useful to know the following: with its history of over 50 years, there is no more established gold coin on the world market today. Although their elegance was aimed at attracting investors in a closed economy, the Krugerrand gold coins are now more in demand worldwide than ever.
Gold is one of the most valuable investment opportunities today. The Krugerrand gold coin will pay off over time. However, as with all investment instruments, zero risk cannot be expected. The price of gold and thus the Krugerrand prices can rise or fall on a daily basis. The volatility of the market should therefore be a criterion that every collector or investor should consider before making a final purchase.
Krugerrand gold coins are reputable coins that help diversify a collection, secure a financial future, or plan for retirement. If you have any questions about the Krugerrand currently in stock or the Krugerrand in general, you can contact us today. We at easygold24 will be happy to answer any questions you may have.
How to recognize Krugerrand fakes?
Verification of the authenticity of the Krugerrand coins
In order to avoid Krugerrand counterfeiting, it is important that you only buy from reputable and registered coin dealers so that you do not get to enjoy a counterfeit coin. Krugerrand: Counterfeiting, or coin fraud in general, has been a sad reality in the investment and coin collecting market for decades. Consequently, it is important that potential customers protect themselves by acquiring sufficient knowledge on how to spot a counterfeit coin. Important information about the authenticity of a Krugerrand coin is as follows:
1. Size
Coins are produced according to precise standards, and therefore the actual coin sizes must be carefully verified. For this purpose, it is advisable to purchase a high-quality micrometer that can be used to measure the diameter, thickness or other dimensions of the coin very accurately. The characteristics of the Krugerrand coins are as follows:
|
Diameter |
Thickness / Density |
Tooth systems |
Weight |
|
|
Krugerrand 1 oz |
32.77 mm |
2.84 mm |
160 |
33,930 g |
|
Krugerrand 1/2 oz |
27.07 mm |
2,215 mm |
185 |
16.965 g |
|
Krugerrand 1/4 oz |
22.06 mm |
1,888 mm |
8.482 g |
|
|
Krugerrand 1/10 oz |
16.55 mm |
1.35 mm |
3.393 g |
Gold is a very dense metal, so some counterfeiters can make a coin with a larger diameter to compensate for the lower density of the metal. If you compare gold with iron, you need twice the volume of iron to achieve the same weight of gold. If other metals are coated with gold, the manufacturer can achieve the appropriate weight, but the size will differ. The difference may be very small, but if you know what to look for, you can easily spot a Krugerrand fake.
2. Magnetic
Gold is not magnetic. So, if the coin sticks to a magnet, the Krugerrand is a fake. To test this, however, an above-average magnet is needed.
3. Optical features
The Krugerrand gold coin has sharp lines. You can compare the details on the respective coins through our reliable website. A Krugerrand fake can usually be detected with a keen eye for fine details.
4. Detection with XRF devices
This determination is carried out by reputable and registered gold buying and selling companies. We at easygold24 use the most modern equipment in our laboratory to analyze your precious metals. This is the only way we can ensure that we can give you the most accurate Krugerrand price. One of these devices is the XRF spectrometer. XRF is recognized as the method that provides the most accurate results. XRF devices allow us to accurately determine the percentage of base metals, as well as the percentage of other metals in the gold coins you send us. XRF technology makes it easy to distinguish 72 elements, including gold, silver, platinum and palladium, as well as carat (333 (8K), 500 (12K), 585 (14K), 750 (18K), 916 (22K)).
|
Krugerrand ANNUAL SALES STATISTICS |
||||||
|
KRUGERRAND GOLD COINS |
||||||
|
Year |
Number of Krugerrands |
Total Coins |
Total Ounce |
|||
|
Krugerrand 1 ounce |
Krugerrand 1/2 ounce |
Krugerrand 1/4 ounce |
Krugerrand 1/10 ounce |
|||
|
Krugerrand 1970 |
211.018 |
– |
– |
– |
211.018 |
211.018 |
|
Krugerrand 1971 |
550.200 |
– |
– |
– |
550.200 |
550.200 |
|
Krugerrand 1972 |
543.700 |
– |
– |
– |
543.700 |
543.700 |
|
Krugerrand 1973 |
859.300 |
– |
– |
– |
859.300 |
859.300 |
|
Krugerrand 1974 |
3.203.675 |
– |
– |
– |
3.203.675 |
3.203.675 |
|
Krugerrand 1975 |
4.803.925 |
– |
– |
– |
4.803.925 |
4.803.925 |
|
Krugerrand 1976 |
3.004.945 |
– |
– |
– |
3.004.945 |
3.004.945 |
|
Krugerrand 1977 |
3.331.344 |
– |
– |
– |
3.331.344 |
3.331.344 |
|
Krugerrand 1978 |
6.012.293 |
– |
– |
– |
6.012.293 |
6.012.293 |
|
Krugerrand 1979 |
4.940.755 |
– |
– |
– |
4.940.755 |
4.940.755 |
|
Krugerrand 1980 |
2.845.872 |
245.096 |
353.916 |
856.011 |
4.300.895 |
3.142.500 |
|
Krugerrand 1981 |
3.108.968 |
257.063 |
844.737 |
1.108.331 |
5.319.099 |
3.559.517 |
|
Krugerrand 1982 |
2.179.120 |
222.044 |
695.755 |
1.017.192 |
4.114.111 |
2.565.800 |
|
Krugerrand 1983 |
3.169.200 |
227.435 |
545.292 |
741.222 |
4.683.149 |
3.493.363 |
|
Krugerrand 1984 |
2.305.128 |
197.438 |
622.813 |
755.988 |
3.881.367 |
2.635.149 |
|
Krugerrand 1985 |
609.837 |
98.783 |
354.964 |
382.137 |
1.445.721 |
786.183 |
|
Krugerrand 1986 |
698.600 |
17.134 |
15.044 |
81.451 |
812.229 |
719.073 |
|
Krugerrand 1987 |
312.177 |
10.398 |
8.806 |
53.628 |
385.009 |
324.940 |
|
Krugerrand 1988 |
307.612 |
3.214 |
8.418 |
54.058 |
373.302 |
316.729 |
|
Krugerrand 1989 |
308.923 |
4.254 |
6.513 |
40.875 |
360.565 |
316.766 |
|
Krugerrand 1990 |
286.808 |
3.996 |
6.980 |
52.225 |
350.009 |
295.774 |
|
Krugerrand 1991 |
42.334 |
2.678 |
5.815 |
44.206 |
95.033 |
49.547 |
|
Krugerrand 1992 |
50.630 |
4.366 |
7.601 |
55.440 |
118.037 |
60.257 |
|
Krugerrand 1993 |
163.909 |
14.156 |
19.663 |
72.477 |
270.205 |
183.150 |
|
Krugerrand 1994 |
278.815 |
17.709 |
22.091 |
87.814 |
406.429 |
301.974 |
|
Krugerrand 1995 |
8.285 |
17.694 |
15.459 |
43.159 |
84.597 |
25.313 |
|
Krugerrand 1996 |
17.163 |
2.488 |
7.867 |
36.035 |
63.553 |
23.977 |
|
Krugerrand 1997 |
12.199 |
10.746 |
12.889 |
39.664 |
75.498 |
24.761 |
|
Krugerrand 1998 |
12.703 |
7.984 |
14.174 |
30.386 |
65.247 |
23.277 |
|
Krugerrand 1999 |
21.845 |
23.738 |
28.671 |
50.098 |
124.352 |
45.892 |
|
Krugerrand 2000 |
6.657 |
2.593 |
2.517 |
19.567 |
31.334 |
10.539 |
|
Krugerrand 2001 |
33.406 |
3.337 |
5.846 |
21.938 |
64.527 |
38.730 |
|
Krugerrand 2002 |
85.841 |
2.724 |
4.464 |
13.420 |
106.449 |
89.661 |
|
Krugerrand 2003 |
41.995 |
2.363 |
4.279 |
7.315 |
55.952 |
44.978 |
|
Krugerrand 2004 |
87.794 |
2.847 |
604 |
868 |
92.113 |
89.455 |
|
Krugerrand 2005 |
27.570 |
6.338 |
8.141 |
21.560 |
63.609 |
34.930 |
|
Krugerrand 2006 |
50.790 |
9.576 |
8.645 |
14.743 |
83.754 |
59.214 |
|
Krugerrand 2007 |
194.451 |
11.775 |
3.890 |
8.769 |
218.885 |
202.188 |
|
Krugerrand 2008 |
256.288 |
10.999 |
13.685 |
14.681 |
295.653 |
266.677 |
|
Krugerrand 2009 |
731.262 |
40.071 |
37.325 |
83.181 |
891.839 |
768.947 |
|
Krugerrand 2010 |
613.870 |
25.714 |
39.244 |
58.731 |
737.559 |
642.411 |
|
Krugerrand 2011 |
722.938 |
32.718 |
35.025 |
79.151 |
869.832 |
755.968 |
|
Krugerrand 2012 |
716.295 |
50.035 |
41.659 |
80.102 |
888.091 |
759.737 |
|
Krugerrand 2013 |
833.261 |
27.613 |
29.779 |
73.059 |
963.712 |
861.818 |
|
Total |
48.603.701 |
1.617.117 |
3.832.571 |
6.099.482 |
60.152.871 |
50.980.350 |
|
Source: Rand Refinery |
||||||
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