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Struck since 1967, these extremely popular gold coins are the official 22k gold coin of South Africa and the South African Mint. This famous gold coin was the best selling gold bullion coin throughout the 1970s and 1980 gold bull market. They remain popular and highly traded today.
Over the last 50 years, over 50 million Gold Krugerrand Coins have been struck and sold to the gold buying public globally.
The Gold Krugerrand coin is considered by most bullion industry experts, one of the best gold coins in the physical gold bullion market you can buy.
Gold Krugerrand coin prices are based on the world’s fluctuating gold spot price.
When physical gold supplies cannot properly meet bullion investor demand, the premiums or prices per Gold Krugerrand coin can increase sharply over fluctuating gold spot prices (e.g. 2008 Financial Crisis gold coin shortage).
This official South African 22k gold coin is considered legal tender in South Africa yet it does not carry an explicit legal tender face value. This ensures these 22k gold coins are traded based on the fluctuating spot price of gold worldwide.
Virtually all other modern government gold coins are stamped with legal tender face values which can cause confusion amongst new gold bullion market entrants as to their values.
The South African Mint’s Gold Krugerrand Coin is perhaps still the most widely owned and actively traded gold bullion coins overall.
Production of this 22k 1 oz gold coin began in 1967, back when South Africa’s annual gold mine production averaged nearly three-quarters (75%) of total western world gold production. The promotion of physical gold bullion was considered vital to South Africa’s gold industry. Especially after 1971, physical gold trading became more vital following the final collapse of the Bretton Woods Agreement effectively ending the international convertibility of US dollars into physical gold bullion.
Then and still now, the gold investment vehicle many gold investors select was and remains the 1 oz Gold Krugerrand coin. In the 1960s the Gold Krugerrand coin was developed by the Chamber of Mines of South Africa, the South African Reserve Bank, and the South African Mint to help bolster gold demand around the world.
The Krugerrand was the worlds first troy ounce-denominated gold bullion coin. Although the Gold Krugerrand coin is legal tender in South Africa, the Gold Krugerrand coin was never struck with a face value. This was done to better relate the value of each 1 oz Gold Krugerrand coin directly to the world’s fluctuating gold spot price.
The very first 22k Gold Krugerrand coin was minted on July 3, 1967. In 1980 the fractional Gold Krugerrand (½ oz, ¼ oz and 1/10 oz) were added to the 1 oz Gold Krugerrand coin mintage to assist smaller more affordable price per coin purchases.
The Gold Krugerrand coin was mass minted to help the man on the street and average investors or savers to more easily purchase gold bullion with confidence and ease. The Gold Krugerrand coin is the first legal tender gold bullion coin to gain worldwide use in the modern era. The 22k gold coin remains popular today.
More than 50 million Gold Krugerrand coins of all sizes (1 oz, ½ oz, ¼ oz, and 1/10 oz) have been minted. The Gold Krugerrand Coin can be sold or exchanged for virtually any fiat currency throughout the world.
For half a century, millions of gold investors equate gold buying, gold ownership, and gold investing with the world famous Gold Krugerrand Coin.
The year 2017 marks the 50th year of the world famous Gold Krugerrand Coin and thus the South African Mint will be striking many commemorative precious metals coins ( including Platinum Krugerrands and Silver Krugerrands ).
Safe shipment of gold bullion coins and bars in the mail is more common than you might think.
The majority of our customers take fully insured, physical gold delivery to their door or preferred mailing addresses.
Upon fully cleared payment of your order with Kitco, your gold coins or bullion bars are secured tightly in nondescript packaging. All parcels are shipped with full insurance, postal tracking, and adult signature requirements.
Since around the year 2000, there has been a general increase in gold coin prices in virtually all currencies and record numbers of gold coins being sold to the investing public.
During and following the Financial Crisis of 2008, the trend of online gold dealers selling gold coins and bullion bars has risen as well as the investing public buying gold coins has dramatically increased as well.
It has become quite common for investors to buy gold coins online in order to better diversify risks to their investment portfolios.
Finding a trusted local or online gold coin dealer who promptly delivers quality gold coins and bullion bars at fair and reasonable prices can be difficult. We have been working in the gold bullion industry for over 40 years and seen many online gold coin dealers come and go.
Since 1977, Kitco has been buying and selling gold and other precious metal bullion. We are the world’s #1 Gold News website and a trusted online bullion and gold coin dealer.
Please reach out to our first class Customer Service Representatives by email <email@example.com> or by calling 1 877 775-4826 (US and Canada) or 1 514 313-9999 (Worldwide).