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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 - Saturday 10 am to 5 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. |
