Krugerrand is a South African gold coin, minted in denominations of one ounce, one-half ounce, one-quarter ounce and one-tenth ounce. First minted in 1967, the South African Krugerrand, is now the most popular and most traded gold bullion coin in the world. Over forty-eight million ounces of fine gold have been minted into Krugerrands thus far.
Named for the four-time and last president of the South African Republic, Paul Kruger, and the “rand” which is the monetary unit used in South Africa, the Krugerrand, is minted of an alloy composed of 22K gold (91.67%) and copper. Unlike coins minted in 24 karat gold, the copper in the alloy lends strength and durability to the gold, making this coin resistant to scratches and wear. The copper in the alloy also embues the gold wth a distinctive orange hue which adds to the beauty of this coin. The one-ounce denomination coin weighs 32.77 grams but contains one troy ounce (31.103 grams) of fine gold.
The distinctive Krugerrand bears Paul Kruger’s likeness on the front. The back of the coin depicts a South African national symbol, the Springbok antelope. South Africa is one of the leading gold producers in the world. Unlike currency, which has a face value printed on the coin, the Krugerrand is valued according to the gold content marked on the coin – and the current price of gold. In fact, the South African Krugerrand is the first coin in the world minted specifically to contain one Troy ounce of fine gold .
GoldFellow® purchases gold Krugerrands based on their gold content and the price of fine gold per troy ounce on the day the coin is received in the company’s processing facility or retail walk-in location. For a quote on the highest current buy-price of one ounce and other denomination Krugerrands and other gold bullion coins, contact GoldFellow® via phone or email – or visit one of our convenient locations.
Rand Refinery Limited: http://www.randrefinery.com/default.htm