Krugerrand coin is one of the world’s most popular bullion coins. Up to now, there are 33 different kinds of bullion coins scattered throughout the world. Out of all these, five types of bullion coins are comprised of platinum, one is comprised of palladium, nine are comprised of silver and the rest are made of gold. The Krugerrand coin is made of gold and it originates from the South Africa.
The creation of Krugerrand coin took place in the year of 1967, where the mint company in South Africa started to circulate it as the local currency. Being used as the legal currency, later on it was thought that the country could market gold to the whole world through the Krugerrand coin. The coin was quickly introduced to the global market, and it didn’t take long for it to be accepted and recognized as one of the most sought-after bullion coins. For about 13 years after the production of the first Krugerrand bullion coin, this particular bullion coin has been able to conquer around 90% of the global market for gold coin.
The Krugerrand coin has 4 different varieties. The smallest coin weighs 1/10 of an ounce, the second one weighs ¼ of an ounce, the third weighs ½ of an ounce and the fourth coin weighs one full ounce with a diameter of about 32 millimeters. Every single coin is comprised of 91.6% pure gold and the rest is copper. The combination of the gold and copper is crucial so that the bullion coin becomes harder. It is important for a bullion coin to be able to resist the effects of wear and tear such as scratches and shock. After all Krugerrand coin is meant to be circulated, so it must be very durable.
The name of the Krugerrand coin was derived from the combination of the South Africa’s currency, Rand, with the surname of the 5th South Africa’s president, Kruger. On the surface of the coin the ‘South Africa’ was inscribed in two versions, i.e. the Afrikaans and English, both in capital letters. On the other side of the coin you may find the image of an antelope, particularly known as the springbok which is also the national symbol for South Africa.
Above the image of the springbok the name of the Krugerrand coin is inscribed, also in caps and beneath it you may find the actual content of gold in the coin. The special edition of the Krugerrand coin is also available, and the bullion coins coming from this edition are certainly higher in value than the regular bullions. The difference between the special editions and the regular bullions is through looking at their serrations. The special editions have 220 serrations, and the regular bullions have 180 serrations.
Many countries have already followed the footsteps of South Africa by producing bullions of their own. The production of different types of bullions was mainly inspired by the popularity and commercial benefits that have been derived out of investing in and trading of the Kruggerand coin.