The gold Krugerrand created by the South African Mint, was one of the first one troy ounce gold coins issued as legal tender. Today, this 22-karat gold beauty’s rich history and diversification potential continue to attract investors. Discover more about the amazing value these coins can bring to your investment portfolio and learn how to buy gold South African Krugerrands today.
Updated on 08/31/2021 at 11:27 PM
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Gold South African Krugerrand
Design and Specifications
While there are a number of gold coins available on the market today, the South African Krugerrand holds the distinguished honor of being the first one troy ounce gold bullion coin issued as legal tender by a government and whose intrinsic value is based on gold content rather than the face value of the coin.
The Krugerrand derives its name from combining the surname of Paul Kruger, a well-known Boer leader and local hero who went on to become the last president of the Republic of South Africa, and the rand, a South African monetary unit.
The gold Krugerrands obverse side features a profiled bust of its namesake, President Paul Kruger, and the word South Africa in both English and Afrikaans, the countrys two native tongues. The reverse side depicts a springbok antelope, the year of issue and the coins fineness.
The South African Krugerrand is a 22-karat gold coin weighing 1.0909 ounces (or 33.930 grams). Each coin consists of 2.826 grams of copper alloy providing increased durability, scratch resistance and unique orange-gold coloring. The gold Krugerrand has a thickness of 2.74 mm thick, a diameter of 32.6 mm and a fineness of .9167.
One of the most highly regarded and recognized gold bullion coins in the world today, the Krugerrand offers liquidity, portability and beauty to an investment portfolio. Monex proudly offers the South African Gold Krugerrand in units of ten coins.
With billions of dollars in transaction volume, an attractive two-way, buy/sell market and consistently competitive prices, Monex remains a preferred source for gold coin investments.
Monex account representatives are available between 5:30 a.m. and 4:30 p.m. Pacific time each Monday through Friday (except national holidays) and on many weekends.
Contact us and discover why Monex has been a trusted name in coin and bullion trading for more than 50 years.
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Gold South African Krugerrands: FAQs
What is a Krugerrand?
First minted in 1967, Krugerrands are legal tender gold coins produced and issued by South Africa. This coin weighs 33.93 grams, or 1.0909 troy ounces of 22-karat gold. It contains one troy ounce of pure gold along with an alloy of 2.826 grams of copper. Krugerrands have a diameter of 32.6 mm, a thickness of 2.74 mm and a fineness of .9167.
What is the difference between a Krugerrand and a Cougaran?
For some, the South African Gold Krugerrand is not well known and it is common to see the coin referred to as Krugerand, Kruggerrand and Cougaran. The longstanding Krugerrand brand name has not changed since its inception in 1967.
What is the cost of a Krugerrand to purchase?
The purchase price of a South African Krugerrand is at the Monex Ask price. In addition, there are charges such as commission and shipping. There is no shipping charge if you select depository delivery. Todays Ask price per one ounce coin for buying in units of ten is: $1,901.70*.
What is the best place to sell Gold Krugerrands?
Since 1967, Monex companies have made it a priority to buy back gold that customers have purchased at Monex. Our multi-billion dollar, two-way buy and sell market is a hallmark and tradition at Monex, and is your assurance of liquidity for your gold Krugerrand investment. Please contact a Monex account representative for additional details.
Can I purchase Krugerrands in my IRA?
Is the Gold Krugerrand the oldest bullion investment coin?
The oldest Gold Krugerrand bullion coin is dated 1967 and generally considered to be the oldest of the legal tender gold bullion coins. This designation assumes that it was struck with exactly one troy ounce of pure gold and issued as legal tender without a fixed currency amount, but redeemable by South Africas central bank at the current value of one ounce of gold.
However, Austria issued 100 Corona restrikes after the 2016 death of Franz Joseph to commemorate his reign. All those Corona commemoratives were dated 1915, which became a marketing advantage as they circumvented United States law prohibiting possession of gold from 1933 through 1974.
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