The Silver Krugerrand coin is a relatively recent addition to the world of bullion coins, first issued in 2017. However, its gold counterpart has a much longer history that lays the groundwork for the silver version.
The Krugerrand's purpose was to help market South African precious metals and make them accessible to the average person. The Krugerrand was an instant success in the investment market and the Silver Krugerrand was later issued by the South African Mint in 2017. It was created as a silver version of the Gold Krugerrand, which is one of the most famous and long-standing gold bullion coins in the world.
The design of the Silver Krugerrand is similar to the gold version, featuring the image of Paul Kruger, the former President of the South African Republic, on the obverse, and the iconic image of a springbok antelope, South Africa's national animal, on the reverse. The design is the same as the gold Krugerrand, but the silver version is struck in 1 troy ounce of .999 fine silver.
Despite being relatively new to the precious metals market, the Silver Krugerrand has been well-received by investors. The 1 oz silver coins is widely appreciated for its its quality of minting and nostalgic design, which mirrors the gold version. The coin features the same historic imagery as the Gold Krugerrand, with the likeness of Paul Kruger on the obverse and the springbok antelope on the reverse. The introduction of the Silver Krugerrand offers a new option for investors and collectors who appreciate the history and prestige of the Krugerrand but are looking for something different or more accessible price-wise than the traditional gold coins. Like its gold counterpart, the 1 oz Silver Krugerrand is widely recognized and easily tradable, making it a popular choice among precious metals enthusiasts.
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