First minted by South Africa in 1967, the South African Kruggerand, also referred to as (K-Rands) for short; are one of the most highly-recognized and sought-after ways to own bullion to this day.
During the early 1980’s, South African Kruggerands made up for approximately 90% of the entire bullion market. The concept behind its original development is simple; promotion and marketing of South African mined gold for public use and investments. Struck in 22 karat gold, South African Kruggerands contain exactly 1 oz of pure gold. Its physical weight is slightly over 1 oz because it is mixed with a small amount of copper.
Just like American gold coins minted prior to 1933, this is done to make the coins more durable and less prone to scratches and dents. South African Kruggerands can be found for relatively low premiums above the spot gold price. As Kruggerands became more popular and globally-recognized and traded, fractional denominations started to appear. Currently, South African Kruggerands can be found in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations; thus making them affordable for most individuals who have disposable income and are willing to invest in gold, own a piece of history, or give a cherished gift to a loved one.
Available in both proof and mint state, South African Kruggerands provide a tangible and portable storage for wealth. Over 47 million South African Kruggerands have been sold since its inception, making them one of the most convenient and alluring ways to own gold today.