South Africa was the first nation to imagine a gold bullion coin which would be available to private investors. Thus, the first South African Gold Krugerrand Coin was introduced to the world in 1967. This gold coin went unrivaled until 1979 when the Royal Canadian Mint debuted the 1 ounce Canadian Gold Maple Leaf. Each gold Krugerrand coin is 1 troy ounce of 0.9167 pure gold. The face value is 1 Rand.
The reverse depicts a graceful springbok designed by Coert Steynberg. The springbok is a native African antelope as well as the national symbol of South Africa. The image has also been used on the South African 5 Shilling.
The obverse features a bust of Paul Kruger created by sculptor Otto Schultz. Paul was a four-term President of the South African Republic. The coin’s name “Krugerrand” is a combination of “Kruger” and South African’s currency the “rand”.
The South African Gold Krugerrand found unchallenged success with Western investors from 1967-1979. Because of South Africa’s use of apartheid, Western nations began imposing sanctions on South African exports. These embargos opened the door for other countries, like Canada, to introduce their own gold coins. Today, both the South African Gold Krugerrand and the Canadian Gold Maple Leaf (along with other countries) are popular purchases for investors and collectors alike.
While coins are in BU (Brilliant Uncirculated) condition, minor flaws such as scuff marks from transporting, breaks in luster, or strike marks from the minting process may be visible. A rating of “brilliant uncirculated” does not mean “rare” but rather the coins are in excellent condition and have had minimal handling. BU coins have not been publicly circulated. “Uncirculated” and “Mint State (MS)” are other terms which may be used in place of “BU”. Under the Sheldon grading system, a BU coin would be anything above a MS60.
Buy your 2017 1 ounce South African Gold Krugerrand Coin(s) today from Camex Metals. Free shipping on all orders over $99.