Gold Krugerrand 1 oz (Random Year)
In stock, Delivery within 3 - 5 business days.
Delivery is subject to availability; unfortunately, we cannot meet requests for specific years of issue.
Information about Gold Krugerrand 1 oz
The Gold Krugerrand is a South African gold coin, first minted at Rand Refinery in Germiston close to Johannesburg in 1967. It is the most widespread bullion coin in gold. It is available in units of 1 ounce, 1/2 ounce, 1/4 ounce and 1/10 ounce. The Krugerrand gold coin has a fineness of 916,7. The alloy with copper gives the coin a reddish color and enhances the scratch resistance.
The design of the gold coin
The Gold Krugerrand derives its name from South African President Paul Kruger (1882-1902) and the South African currency known as the "Rand." The obverse side features a portrait of Paul Kruger, while the reverse showcases a Springbok antelope, the emblematic animal of the Republic of South Africa. Although the Gold Krugerrand lacks any denomination, it holds legal tender status, with its value determined based on the daily gold price. The London Gold Fixing serves as a reference for its value.
In the initial three years of production, the annual output of Krugerrand gold coins amounted to less than 50,000 ounces. Subsequently, production increased substantially, peaking at 6 million ounces during the oil crisis. However, in 1986, sanctions were imposed to combat apartheid, leading to a significant reduction in production, which persisted until the embargo on imports was lifted in 1999.
