South Africa Krugerrand
A Favorite Among Seasoned Bullion Buyers
As demand for gold bullion soared in the mid 1960’s there were few options available to the individual investor. The South African Government perceived an opportunity to serve this market and introduced the Krugerrand in 1967. Gold demand continued to remain strong for the next decade and the Krugerrand enjoyed a special status as the only readily available one ounce gold coin. At the 1979-1980 peak of the gold market, it was the best selling gold bullion coin in the World. As consciousness of South Africa’s Apartheid policies grew, the Krugerrand suffered from diminished interest; especially as new competitors entered the market. Ultimately, the United States banned the import of Krugerrands in 1985. Many investors misunderstood this ban and thought that Krugerrands were illegal to own in the U.S. (the import ban has been lifted, so it is now legal to import Krugerrands again.) As a result, premiums on Krugerrands fell below that of other competing bullion coins. Krugerrands are still preferred by many people who were active buyers of gold in the 1970’s due to their familiarity with the coin. Since Krugerrands are still widely traded, they make a fine choice for a bullion coin purchase. However, they cannot be included in precious metals IRA’s.
If you are interested in purchasing South Africa Krugerrands, please call one of our traders at 800-527-2375 for up to the minute pricing information. For price indications, refer to our Daily Quotes Price Page.
South Africa Krugerrand Specifications:
Size: 1.00 Ounce
Denomination: One Krugerrand
Gross Weight: 33.93 grams, 1.09 oz. Troy
Actual Gold Weight: 31.10 grams, 1.00 oz. Troy
Fineness/Composition: .9167 Gold, 22 Karat
Diameter: 32.60 MM, 1.28 Inches
Thickness: 2.85 MM, .112 Inches
Specific Gravity: 17.77 Approx.