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Denver Gold and Silver Exchange --> Gold Bullion --> Krugerrand

Denver Gold and Silver
5475 Leetsdale Dr Suite 210

Denver, Colorado 80246

Main Number: 303-333-1411

Cash for Gold and Silver   
Main Number: 303-333-1411

We carry South African Krugerrand

Open Monday - Friday from 9 am to 6 pm Call anytime - leave a message: 303-333-1411

The Krugerrand is a South African gold coin, first minted in 1967 to help market South African gold. The coin, produced by the South African Mint, proved popular and by 1980 the Krugerrand accounted for 90% of the global gold coin market. The name itself is a compound of Kruger (the man depicted on the obverse) and rand, the South African unit of currency. During the 1970s and 1980s some countries forbade import of the Krugerrand because of the association with the apartheid government of South Africa, which has since been abolished. The Krugerrand today is a popular coin among collectors.

History

The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. Unusually for bullion coins, the Krugerrand was intended to circulate as currency. To this end, it was minted in a more durable copper-gold alloy. Despite the coin's legal tender status, economic sanctions against South Africa for its policy of apartheid made the Krugerrand an illegal import in many Western countries during the 1970s and 1980s. These sanctions ended when South Africa abandoned apartheid in 1994.

By 1980 the Krugerrand accounted for 90% of the global gold coin market.[5] That year South Africa introduced three smaller coins with a half ounce, quarter ounce, and tenth ounce of gold.

 

Through 2008, Krugerrand coins containing 46 million ounces of gold have been sold.

 

 

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