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This gold coin contains 1.000 troy ounces of bullion. Based on the metal content and weight, the intrinsic melt value of one 2024 Krugerrand 1 oz Gold Coin is $2041.50 based on today's gold spot price.
The Krugerrand gold bullion coin was initially created as the first legal tender currency gold coin, minted exclusively for investors by the South African Mint.
Each Krugerrand is minted with exactly one troy ounce of pure gold, alloyed with copper for a total gross weight of 33.93 grams.
The 2024 1 oz gold Krugerrand displays an effigy that honors Paul Kruger, the former President of South Africa. The reverse features a design that stokes visions of the wonders of nature found throughout South Africa. The antelope-like Springbok, a medium-size deer-like native mammal, is shown running through the grassy plains.
Inscriptions on this side include the weight "FYNGOUD 1 oz FINE GOLD", along with the year-date of minting split between the left and right. The year of minting is split, with the first two digits of the year to the left, the second set of digits on the right.
Initially intended as unique investment vehicle to promote the natural resources that abound the country by promoting the private ownership of precious metals. Krugerrand gold coins are legal tender, with backing by the South African Government.
The Krugerrand was the first investment-grade gold coin to available to investors as a reliable store of value and its design has remained virtually unchanged since it was introduced in 1967.
The strength of the alloy provides durability and gives the Krugerrand its distinctive, slightly reddish hue. The luster is enchanting and it is one of the things differentiating this coin from the others.
The obverse features a portrait that honors Paul Kruger, the former South African President and notable politician who helped to bring independence to the country.
The reverse depicts a springbok antelope, a national symbol of South Africa. This side also includes inscriptions to identify the year of minting, along with the words "Krugerrand" and "Fyngoud 1 oz Fine Gold".
This coin has no nominal face value. Its legal tender status in South Africa is based solely on its intrinsic gold content.
The Krugerrand is an easy way for investors to buy gold coins to diversify their portfolios, given that its value is directly tied to the current gold price.
South African Mint
The South African Mint is a wholly-owned subsidiary of the South African Reserve Bank, the country's central bank. The mint's state-of-the-art facility in Centurion includes coin presses, a research and development unit, and a numismatic department. The mint also has a visitor center where the public can learn about the minting process and the history of South African coins.
|South African Mint
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