The most widely held and actively traded bullion coin in the world is not a British coin, nor is it from America. With sales of over 60 million, more of these coins have been bought than there are people living in its country of origin.
That country is South Africa and the coin is the gold Krugerrand.
It is such an iconic coin – up there with the Gold Sovereign and the Eagle. It’s one of the world’s most prestigious and collected gold coins and one that belongs in any serious coin portfolio.
But what do you actually know about the world’s most traded gold coin? Here are 10 things you need to know about the Krugerrand:
- Struck by the South African Mint every year since 1967
- Made up of eleven parts gold to one part copper, 22 carat gold was chosen over 24 carat because 24 carat gold can bend and scratch too easily
- They are unique among modern gold coins in that they don’t have a currency denomination on the reverse because the bullion versions are so closely linked to the value of their gold content (plus a small premium)
- It was the first gold coin to be traded on the weight of gold it contains, not on a value stamped on the face and the first gold coin in the world to be denominated in ounces of pure gold
- They are the result of South Africa’s need to turn its vast deposits of gold into cash in the 1960s
- The name Krugerrand is a combination of South Africa’s fifth president – Paul Kruger and the South African currency – Rand
- Unlike most other modern bullion coins, Krugerrands are not available in silver
- They have something of a chequered past, especially in America where they were banned until 1975 when prohibition on gold ownership was lifted and again in 1984 for 10 years when they were banned due to America’s boycott of South Africa
- Bullion and Proof Krugerrands can be differentiated by the number of serrations on the edge of the coin, with the bullion version having 180 compared to the 220 on the proof
- Standard bullion Krugerrands are minted at high speed in the hundreds of thousands, with little emphasis on the quality of the final struck coin, but the proof version is limited to under 1,000, with each coin struck individually and then stamped up to three times
The highest quality and most limited Gold Krugerrand you can own
Over recent years almost 750,000 one ounce gold bullion Krugerrands have been struck each year by South Africa.
That’s why, when it comes to your Portfolio, at Coin Portfolio Management we recommend the prized proof version. The 2015 1oz Gold Proof Krugerrand was limited to just 800 pieces, but we were able to secure 25 and we have a few remaining.
It is the highest quality gold Krugerrand you can own and it can be yours for £2,800.