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The Gold Standard of Coins
Krugerrands are one of the most popular gold coins in the world, commonly seen as a symbol of wealth and prosperity. Named after former South African president Paul Kruger, they were first minted in 1967. Investors and collectors alike highly seek Krugerrands, the first bullion coin made out of gold. Their 22-karat gold content makes them more durable than other coins.
What are Krugerrands and Why Are They So Popular?
The Krugerrand is a world-renowned gold coin that gets its name from Paul Kruger, the late 1800s president of South Africa. People purchase Krugerrands for reasons like history, value, and wealth perception.
The Krugerrand was first minted in 1967 and is a very popular coin made of 22-carat gold. Its diameter is 32.77 mm. It’s also available in silver with a 38.61 mm diameter and remains one of the oldest coins still used today because of its popularity among investors.
History of Krugerrands
The Krugerrand is a South African gold coin that was first minted in 1967. It was named after Paul Kruger, the former president of the South African Republic, and its original primary function was for export only. However, they quickly became popular among South African citizens as well.
The Krugerrand is 91.67% pure gold, weighing in at 1.0909 troy ounces (33.93 grams). It is 22 carats thick with a diameter of 32.77 millimetres and ranks as one of the most popular gold coins worldwide; 50 million have been minted since its creation.
When Was the Krugerrand First Minted?
When it was first minted, the Krugerrand was worth $35 USD. However, over time, its value has changed based on the global market for gold. In September 2017, one Krugerrand coin was valued at around $1,269 USD. So if you’re thinking of investing in gold coins, the Krugerrand is a good option to consider.
Krugerrands are available in both gold and silver varieties. Gold Krugerrands are more popular because they are easier to store, but you can also find silver Krugerrands if you prefer a more valuable option. Lastly, Krugerrands come in a variety of sizes, so make sure you know what size you need before buying.
Krugerrands are timeless gold coins, and first and foremost, it is important to understand the Krugerrand’s history and worth before purchase. Remaining one of the most popular coins globally, they make for an excellent investment piece. Secondly, those not located in South Africa or another large market may have difficulty purchasing these coins, usually necessitating aid from a broker or dealer.
How Are Krugerrands Made?
The Krugerrand is made using a process called die stamping, which involves pressing molten gold into specially designed moulds under high pressure to create the desired shape and design. Krugerrands are stamped with an image of Paul Kruger on one side and an antelope on the reverse side. The coins are then polished and electroplated with copper before being struck with a Krugerrand mark.
Gold Krugerrands are minted in South Africa, where the gold mining industry is a key part of the economy. Krugerrands are made of gold that is 91.67% pure, which is higher than the purity of most other gold coins. They come in a variety of sizes, ranging from 1-oz coins to 1⁄10 oz coins. Krugerrands are also available in silver, with the same diameter as gold Krugerrands but slightly thicker at 38.61 mm.
What Determines The Worth of a Krugerrand?
The worth of a Krugerrand is determined by a number of factors, including its history, rarity, and condition. Krugerrands are some of the most popular gold coins in the world, and as a result, they are also some of the most valuable.
One of the main things that determines the worth of a Krugerrand is its gold content. Krugerrands are made of 22-karat gold, which means they contain 91.67% gold. This makes them some of the purest gold coins on the market. As a result, they are in high demand among investors and collectors.
In addition to their gold content, Krugerrands are also popular because they are South African coins. Krugerrands were first minted in 1967, and they have been a favourite among investors ever since. They are also considered to be one of the most beautiful gold coins in the world, with their distinctive design featuring Paul Kruger on one side and a springbok antelope on the other.
Krugerrands are also rare coins. Only around 50 million Krugerrands have been minted since 1967, which makes them relatively scarce. This also contributes to their value.
Finally, the condition of a Krugerrand also affects its worth. A Krugerrand that is in excellent condition can be worth much more than one that is worn or damaged.
How to Buy Krugerrands
If you’re ready to buy Krugerrands, Bullion Traders is here to help. We offer a wide selection of Krugerrands for purchase, and we can help you get the best price on the market. Contact us today to learn more about buying Krugerrands from Bullion Traders, or visit our shop page!
Krugerrands are popular gold coins because of their history, worth, and perceived value. They come in both gold and silver varieties, so make sure you choose the right size for your needs. Krugerrands can be difficult to buy and sell, but working with a broker or dealer should help you find what you need. When investing in Krugerrands, make sure you understand the background, determine your size preferences, and research reputable dealers before making a purchase. With these tips, Krugerrands could be an excellent addition to your portfolio.
Key Takeaway
Krugerrands are globally renowned gold coins, valued for their history, purity, and rarity. Named after former South African president Paul Kruger, these coins were first minted in 1967 and are made of 22-karat gold, making them highly durable. Their popularity stems from their historical significance, pure gold content, and distinctive design. The worth of Krugerrands is determined by factors such as gold content, rarity, condition, and their South African origin. As valuable investment pieces, potential buyers should consider legality, size preferences, and reputable dealers when looking to add Krugerrands to their portfolios.
