Silver Investment Coin Krugerrand 1 Oz

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Krugerrand

Krugerrand investment coins have a long history. It began in 1967 with the minting of 1 ounce gold coins, followed by other 1/2 ounce, 1/4 ounce and 1/10 ounce gold variants in 1980. In 2017, the South African Mint released the first silver investment and commemorative coins for collectors to mark the 50th anniversary of the Krugerrand. The Krugerrand silver investment coins were launched to great acclaim in June 2018.
The name of the coin was created by combining the name of the then President of the Boer Transvaal, Kruger, and the South African currency, the Rand. These coins have become the world's most popular investment coins. The success of the Krugerrand led to the introduction of the Canadian Maple Leaf in 1979 and the Australian Nugget in 1986. Krugerrand investment silver coins are minted from the purest 99.9% silver at a weight of one ounce (1 Oz - 31.1g), and its precious metal value far outweighs its stated face value.

The reverse of the coin bears the traditional depiction of the African gazelle in leaping position, South Africa's national symbol. The motif is complemented by the inscription "KRUGERRAND FYNSILWER 1OZ FINE SILVER R1" and the year of issue (by C.L. Steynberg).

The obverse of the coin depicts a portrait of Paul Kruger, President of the Boer Transvaal (1883-1900), looking to the left and the inscription "SUID AFRICA - SOUTH AFRICA" (by Otto Schultz). This portrait was used on the South African Kruger Pond from 1892-1900, the forerunner of today's Krugerrands.

Krugerrand investment coins

Krugerrand investment coins are coins minted in South Africa and are the legal tender of the country. According to the Constitution of South Africa and the rules of the South African Reserve Bank, the face value is converted daily based on the current exchange rate on the London Stock Exchange. The South African Krugerrand was the first gold coin in the world to be marketed for investment purposes. The Krugerrand accounted for up to 90% of the world gold coin market in 1980. During the 1970s and 1980s, some Western countries banned the import of these coins because of their relationship with the apartheid government of South Africa. Economic sanctions only ended in 1994 when South Africa left apartheid.
The production of the gold Krugerrand varied over the 50 years. Between 1967 and 1969, 40,000 coins were minted annually. During this period, 1 Oz coins were minted. While the total weight of the coin is slightly higher because it still contains an admixture of copper. The coin contains an ounce of pure gold and the rest is copper. In 1970, the number of coins increased to 200,000. In 1974, more than 1 million gold coins were produced, and in 1978 production reached 6 million coins. In 1980, 1/2 Oz, 1/4 Oz and 1/10 Oz coins were minted. After the end of apartheid, there was a decline in production and in 1998, for example, production was only 23,277 pieces. Since then, however, there has been a gradual increase in production, but production has not reached pre-sanctions levels.
The first Kruggerand 50th anniversary silver investment coins were minted in 2017 in a mintage of 1,000,000 pieces. A special 50th anniversary mark was incorporated into the commemorative design. In 2018, the minting of 1 Oz silver investment coins in 99.9% purity began.
In total, more than 55 million pieces of various weights have been sold since production began.

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