Minted since 1967 by the Rand Refinery in South Africa, the Krugerrand is the world's most widely held and actively traded gold bullion coin.
During the late 1960s, when South Africa's annual gold mine output averaged 75% of total output in the western world, the promotion of gold was considered vital, following the final collapse of the Gold Standard in 1971. The Krugerrrand was the chosen vehicle to encourage individual ownership of gold.
Krugerrands became the world's first ounce-denominated gold coins and were mass produced to enable the "man in the street" to purchase gold easily and with confidence.
Although they are legal tender, they never bore a face value. The value of each coin is directly related to the prevailing value of their fine gold content.
The reverse was originally designed and engraved by the famous sculptor, Coert Steynberg, and features one of South Africa’s national animal, a Springbok. This image is surrounded by the words ‘KRUGERRAND’ and ‘FYNGOUD 1 OZ FINE GOLD’, with the mintage year, ‘2023’, on either side.
The observe features the effigy of Paul Kruger, the first President of the Zuid Afrikaansche Republiek (ZAR). This design by Otto Schultz is surrounded by the country’s name in two of its 11 official languages, Afrikaans and English: ‘SUID-AFRIKA’ and ‘SOUTH AFRICA’.
Synonymous with integrity and quality, the Rand Refinery is the largest integrated single-site precious metals refining and smelting complex in the world. The Krugerrand is 916.7 fineness and contains 1 troy ounce of gold.
The 2023 Gold Krugerrand with its delicate, accentuated features is a numismatic’s dream, while the bullion is highly sought after by investors the world over.
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