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South African Krugerrand Coins - Things You Need To Know
Interested in finding a profitable way to invest your cash? Why not venture in coins? Today, many are investing in precious metals like gold, silver and platinum coins because it is known to be an excellent hedge against inflation. One of the best selling coins today is the South African Krugerrand. This coin derived its name from Paul Kruger. Paul Kruger was the last president of the South African Republic. Evidently, it is also the portrait of Paul Kruger that is imprinted on the coin.
On the reverse is the springbok antelope. The antelope is the national symbol fo South Africa. To add to its popularity, the word “Krugerrand” is the registered trademark of the Rand Refinery Limited of South Africa. The world's largest gold refineries is the Rand Refinary.
The Krugerrand coin has a very colorful history. Back then, war and greed prevails the Afrikaans Witwatersrand. This is where the gold was discovered in the year 1884. Miners see the opportunity in this great land. By the year 1899, the British Empire sought equal rights for the miners and Boars. Hence, it commenced the infamous Boar War or Freedom Wars. The war finally reached its end and by 1920, the Rand Refinery was established to manage all South African gold.
Moreover, the South African Krugerrand was the first ever manufactured 1-ounce gold bullion coin. It was minted and circulated as a legal tender. The year of its production was in 1967. It became almost similar with the gold bullion. In that point in time, U.S. citizens are prohibited to own gold bullion except for legal tender coins. Fortunately, the Krugerrand coins was legal for Americans to possess. By the year 1980, according to scholars, approximately 90 percent of the Krugerrand is circulating the gold bullion market.
The South African Krugerrand Coins were considered as the trend setters for the other nations to release their own legal tender coins. After it was minted and successfully circulated, Canada released its Canadian Gold Maple Leaf. Australia on the other hand, released its Australian Nugget and the US with its infamous Gold Eagle. Today they are among the most recognized gold bullion coins. They are traded almost anywhere across the globe.
If you want to invest in this coin, you are making a clever decision. You must know that the Krugerrand is a favorite choice among gold investors both beginners and experts because this coin sells with low premiums over spot price. Not like the American Gold Eagles which often have high premium. The latter also is more expensive than the Krugerrands, and they essentially have the same amount of gold in them. One can easily purchase Kruggerand online via a trusted gold trade website or through decent dealers who buy and sell gold coins.
Yes, the Krugerrands are the most popular among the one ounce gold bullion coins. They are on hand in different quantities. Minting companies released the 1/10 Krugerrand coin version during the 1980's. People still fancy this version and it is one of the most coveted coins in the gold market. Just a basic fact about the 1/10 Krugerrand coin, it is the smallest of all Krugerrand coins with a diameter amounting to 16.55 millimeters and thickness equivalent to 1.35 meters. It has a 91.67 gold purity and it consists of 3.110 grams of gold.
The Krugerrand coin is designed with a copper tone appearance. It is distinct with its well-defined luster. The copper color comes from the copper alloy that is incorporated with the 22 karat gold.
Before investing in the Krugerrand, be sure to read everything about this coin. Learn the different specifications of the coin and know if the selection of coins is for sale. Read because knowledge is power.
Eager to buy and sell gold online? Visit silverandgoldexchange.com, your most trusted site to sell gold, platinum and other precious metals. For more details click on the links now.
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