What is krugerrand?

The Krugerrand is a South African gold coin, first minted in 1967 to help market South African gold and increase its demand. It was the first bullion coin to be priced according to its gold content, plus a small premium for fabrication and distribution.

• Composition: Krugerrands are made of 22-karat gold, meaning they are 91.67% pure gold, with the remaining 8.33% being copper. This copper content gives the coin its distinctive reddish hue and makes it more durable than pure gold coins. This can be detailed as composition.

• Weight and Purity: A standard Krugerrand contains exactly one troy ounce (31.1035 grams) of fine gold. The total weight of the coin is slightly more (33.93 grams) due to the copper alloy. Weight

• Design: The obverse (front) of the coin features a profile of Paul Kruger, the former president of the South African Republic. The reverse (back) depicts a springbok, a type of antelope and a national symbol of South Africa. The design details are quite iconic. Design

• Sizes: While the original Krugerrand contained one troy ounce of gold, fractional sizes were later introduced, including half-ounce, quarter-ounce, and tenth-ounce coins. This made the coin more accessible to a wider range of investors. Sizes

• Legal Tender: Although the Krugerrand is technically legal tender in South Africa, its value is primarily determined by its gold content and the spot price of gold. It is not generally used for everyday transactions. This can be detailed under Legal%20Tender

• Popularity and Impact: The Krugerrand was immensely popular in the 1970s and 1980s, accounting for a large share of the global gold coin market. However, its popularity declined due to international sanctions against South Africa during the apartheid era. The coin regained some popularity after the end of apartheid. The impact of krugerrand is undeniable.

• Investment: Krugerrands are a popular investment option for those looking to hold physical gold. They are relatively easy to buy, sell, and store, making them an accessible way to diversify an investment portfolio. You can find more information about Investment