South African Gold Krugerrands
South African Gold Krugerrands
The Krugerrand is a gold coin from South Africa, first minted in 1967 to help market South African gold. It is produced by the South African Mint.
By 1980 the Krugerrand accounted for 90% of the global gold...
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Quick Facts About South African Gold Krugerrands
While mintage varies from year to year, since 1967, more than 50 million South African Gold Krugerrand coins have been minted. The gold Krugerrand quickly became the number one choice for investors worldwide during the bull gold market in the 1970's. Between 1974-1985 it is estimated that 22 million gold Krugerrand coins were imported into the United States.
The success of the South African Gold Krugerrand inspired other gold-producing countries to mint and issue gold bullion coins. Including Canada, with the gold Canadian Maple Leaf; China, with the Chinese Gold Panda; the United States, with the American Gold Eagle; and the United Kingdom, with the British Gold Britannia.
The dimensions of the 1 oz South African Gold Krugerrand is 32.77 mm in diameter and 2.84 mm thick. It is minted from a gold alloy that is 91.67% pure (22 karats) so that the coin contains one troy ounce (31.1035 grams) of gold. The remaining 8.33% of the of the coins weight is copper which gives the Krugerrand it's orange appearance. As a result, the Krugerrand's actual weight is 1.0909 troy ounces (33.93 grams).
In 1980, the South African Mint began producing gold Krugerrand coins in fractional ounce sizes, containing 1/2 oz (15.5 grams), 1/4 ounce (7.78 grams), and 1/10 ounce (3.11 grams) of pure gold.
