Today, collecting coins is not just a hobby but a great way to invest for the future. The South African Krugerrand Coins are one of the most sought after and well invested gold coins in history. This is mainly because of its purity and probably because of the controversies behind it.
The Krugerrand coin was minted in 1967 and each coin weighs about an ounce and ninety one percent of it is pure gold while the rest is of copper.
The “head side” of the South African Krugerrand Coin, or the obverse side, is the image of Paul Kruger the first President of the South African Republic. The “tail side” or the reverse side is the image of the South African Antelope or the Springbok which is one of the national symbols of South Africa.
The Krugerrand coins got its name from Kruger, who, as you already know, was South African Republic first president and Rand which is South Africa’s form of currency.
The South African Krugerrand Coins were first introduced in 1970 as a means to market the South African gold, meant for investment purposes.
The most popular is the South African Krugerrand Coin that weighs 1 oz. It is affordable and very easy and convenient to carry. Because of its popularity the government minted other variations which are half-ounce and quarter of an ounce South African Krugerrand coins. They even minted what is known as the “proof” Krugerrands with the main purpose of making these coins as collector’s item.
However, the coins were band in 1985 because of some sensitive issues about the South African form of government at that time.
The South African Krugerrand Coins were considered as trend setters for other gold coins. Soon after it was minted, Canada with its Canadian Gold Maple Leaf, Australia with its Gold Ducat Coins and the US with its Gold Eagle followed suit.
The South African Krugerrand coins became the model, so to speak of the Gold Eagles.