The South-African gold Krugerrand is produced annually by the Rand Renfinery and is probably one of the most famous gold investment coins in the world. The Krugerrand has a purity of 91,67% (22 carats), has a gross weight of 33,93 grams and has a net weight of 31,10 grams of gold. Furthermore, the Krugerrand was the first coin in the world with a net gold weight of 1 troy ounce (31,10 grams).
The Krugerrand is produced by the South-African Mint (Rand Refinery) and was introduced on July 3, 1967 to stimulate the South-African gold market. Even though the coin is legal tender it was never used as such.
The Krugerrand is very popular among investors and around the year 1980, it accounted for almost 90% of the worldwide sales of gold investment coins, in spite of several boycots against the Apartheid regime that made it impossible to import the coin. Even now, the coin is still very popular and many investors choose the coin over other coins because of its international character.
Purity & weight
The gold Krugerrand has a purity of 916,7/1.000 and has a net weight of 31,10 grams (1 troy ounce). The remaining 2,83 grams are made of copper, which gives the coin its typical slightly orange colour. This alloy ensures that the coin is not damaged as easily as other troy ounce coins with a purity of 999,9/1.000 like the Maple Leaf.
The Krugerrand is minted in several weights: 1 troy ounce, 1/2 troy ounce, 1/4 troy ounce and 1/10 troy ounce.
Design of the Krugerrand
The face of the Krugerrand shows an image of Paul Kruger, the 5th and last president of the Transvaal, the former South African Republic. Paul Kruger was elected president of the Transvaal on December 30, 1880, after which he served three more terms. Under his leadership, the then bankrupt Transvaal transformed into a prosperous and strong Boer state. After the start of the Second Boer War, Kruger left South-Africa and he arrived in The Hague on December 6, 1900. After a stay in The Netherlands, he moved to Switzerland, where he died on July 14, 1904.
The reverse side of the Krugerrand has an image of a springbok - the national symbol of South-Africa - which can also be found on the South African Rand. The springbok also refers to Witwatersrand, a mountain range in the province of Gauteng, South-Africa, where 40% of all the gold in the world comes from.
Right under the image of the springbok you can find the initials of the designer, Coert Laurens Steynberg. The bottom of the reverse side mentions the name of the coin, the year of issue and the purity and weight of the coin in South-African and English; ‘fyngoud 1 oz’ en ‘1 oz fine gold’.
Buying a golden Krugerrand
The Krugerrand and other gold coins are exceptionally suited for buying physical gold, given that you needn’t pay VAT on gold coins since they are considered as monetary gold.
Even though all gold coins sold by Argentor are tested for their authenticity, they don't come with a certificate as opposed to gold bars.
Selling a golden Krugerrand
You are more than welcome in our office to sell your golden Krugerrand coin(s). You needn't make an appointment to do so.
You can easily check our live buying prices on this page. These prices are adapted every minute and will only be hedged once you present the coin(s) in our office.