The Gold Kruggerand Coin

January 18, 2010 · Posted in Buying Krugerrand Coins · Comment 

Krugerrand coins were first printed in 1967, in South Africa. These coins were ideal for investment in gold by individuals as they contained exactly one ounce of pure gold. Not only is the Krugerrand thought to be the most owned gold coin on the planet, but it was actually the very first gold bullion coin made specifically for investment. Even American citizens were allowed to purchase the coins for investment. At that time, they were forbidden from the private bullion ownership, but since the Krugerrand was legal foreign tender, these specific coins were permitted to be owned.

There are an estimated 46 million Krugerrand gold coins in circulation, making it the most commonly owned gold coin on the planet. The coin was named after Paul Kruger, the president of the South African Republic, whose likeness appears on one face. The other side of the coin features a springbok, which is a popular symbol of South Africa. Under the springbok the gold content is depicted, and the name "South Africa" in two languages (Afrikaans and English). Krugerrands are printed with many different quantities of gold. There are one tenth ounce, one quarter ounce, one half ounce, and one full ounce varieties. Krugerrands are unique in that they have no set value, and instead trade for a little higher than the daily market price of gold.

Although other countries produce their own bullion coins, the South African Krugerrand has consistently remained the most popular in the world. The Krugerrand is the coin most people seek after, most often buy, and it is the most recognizable. It is virtually guaranteed that people will continue to invest in gold in the future, and the South African Krugerrand is likely to be a popular choice. As a testament to the popularity of this beautiful coin, many other nations began manufacturing gold coins of their own, two of the most popular examples being the American Gold Eagle and the Canadian Gold Maple Leaf.

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