South African 1 oz Gold Krugerrand Coin BU (Random Year)
Product Details
The Gold Krugerrand series has been a cornerstone of the global gold market since its introduction in 1967. Known for its durability, this coin’s .9167 purity allows it to resist scratches and wear, making it ideal for investors and collectors.
- Contains 1 oz of gold and is .9167 pure.
- Issued by the South African Mint.
- Obverse: Features a portrait of Paul Kruger, South Africa’s first and only president, along with “South Africa” inscribed in both Afrikaans and English.
- Reverse: Showcases a springbok antelope, the national animal of South Africa, along with the year of minting and gold weight.
- Coins will be in protective packaging.
- Often available at a slight discount compared to similar gold coins, such as the American Gold Eagle.
The South African 1 oz Gold Krugerrand Coin BU (Random Year) is a globally recognized gold bullion coin that offers an excellent balance of historical significance and investment value. With a gold content of 1 oz and .9167 fineness, the Gold Krugerrand is a staple for collectors and investors alike. Despite its lower fineness compared to .999 fine coins like the Gold Buffalo or Gold Maple Leaf, the Krugerrand still contains 1 full ounce of pure gold.
Important Note
Dates on these random year coins will be of our choosing and may or may not vary, determined by stock on hand.
South African 1 oz Gold Krugerrand Coin BU Design
The coin’s obverse depicts Paul Kruger, a key figure in South African history, with inscriptions in both of the country’s official languages. The reverse features the iconic springbok antelope, symbolizing South Africa’s rich natural heritage.
The South African Mint
The South African Mint has been producing Krugerrands since 1967, establishing itself as one of the most trusted mints in the world. The Krugerrand was the first gold bullion coin to be mass-produced and remains a popular choice for investors worldwide.
Historical Context
The Krugerrand’s legacy is intertwined with the history of apartheid. Due to South Africa’s apartheid policies, the import of Krugerrands was banned in the U.S. in 1985, leading to the creation of the U.S. Gold Eagle program. However, since the end of apartheid and the lifting of the ban in 1994, the Krugerrand has largely shed its affiliation with that era. It has once again become a globally appreciated gold coin, enjoying great popularity and high liquidity in the marketplace.
Understanding Gold Spot Price
Unlike most sovereign gold coins, Krugerrands were never given a face value but were made to derive their value from the price of gold at the time they are traded. The spot price of gold is the current market price at which gold can be bought or sold for immediate delivery. It is determined by various factors including supply and demand, geopolitical events, and the strength of major currencies, particularly the U.S. dollar. Gold is traded continuously around the world in markets such as New York, London, and Hong Kong, leading to constant fluctuations in its spot price. This price serves as a benchmark for gold transactions, including the pricing of gold coins like the Krugerrand.
Find the price of one ounce of gold today and learn about other precious metals.
