The Krugerrand is the world's most recognizable bullion coin. The price of this coin depends on the current gold exchange rate. The South African Mint has been offering it for 50 years. Buying it for investment purposes is today a classic of alternative investments available outside the banking system. The most popular 22 carat Krugerrands are those weighing one ounce.
The obverse of this coin depicts the bust of Paul Kruger, a South African politician who became famous for being the leader of the Boers' resistance against the British and later president of the South African Republic (Transvaal). Also on the obverse are the words "South Africa" in Afrikaans and English. On the reverse there is a gazelle, which is one of the national symbols of South Africa. The name of this most famous gold coin, the "krugerrand", comes from the combination of the name of the aforementioned President Paul Kruger and the South African currency, Rand. The design was made by Coert Steynberg, a South African sculptor. It is worth realizing that the Krugerrands have no numismatic or nominal value. It is not a coin made for collectors but for investors. The current value of each such coin is determined solely on the basis of the current gold rate. This rate is listed on two of the most popular precious metal exchanges - in London and in New York. The price of such an investment coin also includes the cost of minting it, which is 5 percent and, of course, the dealer's margin.
The Krugerrand gold bullion coin is the most famous investment coin in the world. Among other things, because it is the first coin of its kind and is already 50 years old. It has been produced, or more precisely minted, since July 3, 1967 by the South African Mint. Having a large stock of precious metal, the South African Chamber of Mining came up with the idea of creating the world's first gold investment coin. The coin is made of an alloy with a fineness of 916.6. This is not a classic solution with pure gold of 999.99. The weight of the Krugerrand (33.93 g) consists of an ounce of pure gold and less than 3 grams of copper. Its purity is 22 carats, which means it contains one ounce of pure gold and a small amount of copper. The admixture of copper makes this coin extremely scratch-resistant and has an unusual color compared to other coins. The Krugerrand is also more durable than other one-ounce coins of this type due to the addition of the other metal mentioned. There is a year of issue on both sides of the Krugerrands. Underneath, it reads "Fyngoud 1oz fine gold", which indicates the pure gold content. More info on page krugerrand.com.pl.