The Modern Gold Bullion Family of Coins – Part 4
The Krugerrand of South Africa
This member of the ‘Bullion Coin Family’ is the South African Krugerrand.
The Krugerrand is minted by the South African Rand Refinery (and South African Mint) and was introduced on the 3rd of July 1967. Since it was introduced, over 50 million Krugerrand coins have been minted (in all sizes).
The 1oz gold Krugerrand coin is struck in 22 carat gold (916.7) and contains 31.10 grams of pure gold. Its’ total weight is 33.93 grams.
Since it was introduced in 1967, the Krugerrand has always carried the same classic Springbok design which was originally modelled by South African sculptor Coert Steynberg. The Springbok is of course the national animal of South Africa and one of its most important and iconic images.
The Krugerrand has become the most actively traded bullion coin in the World.
The Rand Refinery of South Africa, where the Krugerrand is minted, has a very important claim to fame. It is the largest single site complex for the refining and smelting of precious metals in the world.
The Krugerrand can be bought in different weights : 1 oz (from 1967). 1/2 oz, 1/4 oz, 1/10th oz (from 1980). These are the ‘Core Range’ of the Krugerrand.
However, for special edition collector’s sets, such as the 50th Anniversary of the Krugerrand (2017), two smaller coins were especially issued; the 1/20th oz and 1/50th oz.
The Krugerrand has its own website, which is : http://www.realkrugerrand.com
To find out more about the South African Rand Refinery, their website is : http://www.randrefinery.com