Buy Krugerrands - South African Krugerrand Information

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• published: 28 Jan 2015
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We buy and sell krugerrands on our site http://taxfreegold.co.uk/wesellkrugers.php and hope this information will help you get the most from your gold investment. One of our most sought after products is the South African Krugerrand so today we’d like to take a look at the various sizes and facts of this popular gold coin. The South African Chamber of Mines had an inspired idea to help market South African gold. It was to issue a one ounce bullion gold coin, to be sold at a low premium over the intrinsic gold value. The Krugerrand was first minted and issued in 1967 by The Rand Refinery in South Africa, as a bullion coin containing one troy ounce of gold. It was also the world’s first one ounce denomination gold coin. In 1980 they later introduced a number of fractional sizes, the half, quarter and tenth ounce. The fractional sizes have not always been as popular as the one ounce partly due to the higher premiums applied. They are, however, popular with investors who are wanting to add smaller amounts of gold to their holdings. Proof versions were also produced to appeal to coin collectors. These coins can be distinguished from their bullion version by the number of serrations around the coin. One ounce bullion coins have 160 serrations and proof versions have 220. Some interesting information on the number of serrations can be found on our website. http://taxfreegold.co.uk/krugerrandmisinformation.html Due to its legal tender status in South Africa it may be imported into many countries without any import taxes, duty or VAT. Although, it wasn’t until 1971 that the Krugerrand could be legally acquired in Britain, when it was made legal to buy gold bullion coins. To make it more durable it is produced with 22 carat gold comprising of a gold-copper alloy. This also gives the coin a more distinctive copper colour. Krugerrands are also known as Krugers and this is often miss-spelled with numerous variations that we have come across over the years. You can also find a list of these on our Taxfreegold website http://taxfreegold.co.uk/kruger_rand.html The design of the Krugerrand hasn’t changed since it was first released, as it is intended to be used as a vehicle for private gold ownership, rather than being a collectible coin. On the reverse is the image of the Springbok, a well known animal of South Africa while on the obverse is featured the profile of Paul Kruger the State President of the South African Republic, previously called Transvaal. The name Krugerrand itself is a compound of “Kruger”, (Paul Kruger-The Former President) and “Rand “(The South African unit of currency). The success of this Krugerrand means that they are available to buy as bullion coins, newly minted, in proof version and in sets. Due to their popularity they are also extremely easy to sell, being one of the most traded gold bullion coins in the world. Further Resources: http://taxfreegold.co.uk/krugerrandinfo.html http://en.wikipedia.org/wiki/Krugerrand http://www.randrefinery.com/products_krugerrands.htm