Krugerrand Gold Coins
April 22, 2009 by Grams · Comments Off
The Krugerrand is a South African gold bullion coin, which was first minted in 1967 to help expand South African gold exports to the world. Although the coins are legal tender in South Africa they are not actually meant to be used as currency; so they are generally regarded as a bullion coins.
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 1 OZ PERTH MINT COPY BAR KRUGERRAND OUNCE COPY COIN  US $14.95
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 5 SOUTH AFRICA KRUGERRAND LION 100 MILS 24K GOLD BARS US $49.95
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 22K GOLD KRUGERRAND COINS Lot Of 100 US $30.00
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 1976 1 T o Gold Krugerrand US $1,301.00
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 1 1978 One Ounce GOLD KRUGERRAND 1 DAY AUCTION US $1,250.00
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 10 1 TROY OZ 100 MILLS 999 GOLD KRUGERRAND ART BARS $$ US $89.95
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The Krugerrand created a world first in modern times as the first bullion coin that could be used as legal tender at the market value of its face gold content. Earlier gold coins such as the gold sovereign had a currency value engraved on one side which could differ significantly from their gold market value. The Krugerrand was also the first gold coin to contain exactly one ounce of fine gold and was intended from the beginning to be an investment vehicle for the private ownership of gold. By making the coin legal tender, Krugerrands could be owned by American citizens, which had banned private ownership of gold bullion but allowed ownership of foreign coins. However, because of the apartheid policy in South Africa, the Krugerrand was declared an illegal import in many Western countries during the 1970s and 1980s, until the South African political reforms of the early to mid-1990s.
Their gold content of a Krugerrand is exactly one troy ounce. Originally, it was sold at a premium of five percent over the base gold value, and only one size of coin was made, containing one troy ounce (31.1035 g) of gold. Today Krugerrands are produced in a variety of sizes, at a premium above the market price of gold.
Because the Krugerrand is actually a gold alloy that is 91.67 percent pure (22 karats), the total weight of a "one ounce" coin is 1.0909 troy ounces (33.93 g), to provide one troy ounce of pure gold. The remainder of the coin's mass is made up of copper (2.826 grams), which gives the Krugerrand a slightly orange appearance compared to silver-alloyed gold coins. Alloys are used in order to make gold coins harder and more durable, which helps make them resistant to scratches and dents during handling. In 1980, three other sizes of Krugerrands were introduced, offering a half, quarter, and tenth ounce weights.
