Buy Gold Krugerrands Online from CBMint
The South African Gold Krugerrand
The gold Krugerrand is a gold bullion coin issued by the South African Mint since 1967 in order to help market South African gold. Extremely popular with collectors and investors who buy gold coins online, the gold Krugerrand is currently offered in 1 ounce, ½ ounce, ¼ ounce, and ⅒ ounce sizes. Like the American Gold Eagle, the Krugerrand is minted from 22 karat (91.67%) gold alloyed with copper. This alloy, historically known as Crown Gold, is intended to increase the hardness of the coin -- a pure gold piece mars and scratches more easily. The actual gold content of each piece is as stated -- a 1 Ounce Gold Krugerrand, for example, has an overall weight of 1.0909 troy ounces so contains precisely one troy ounce of gold. This alloy also gives the Krugerrand its well-known orange hue. Though millions of Gold Krugerrands have been produced over the decades, CBMInt only obtains Krugerrands direct from the official distributors of the South African Mint, thus ensuring full product authenticity and quality.
Design of the Gold Krugerrand
Obverse: Former Boer President Paul Kruger in profile. Around the rim, in Afrikaans, Suid Afrika, meaning South Africa in English.
Reverse: Springbok antelope along with the mint date. Krugerrand in legend along with gold content and "Fine Gold" in both English and Afrikaans.
Investing in Gold Krugerrands
Although the Gold Krugerrand has numismatic value and is quite collectible, it trades closer to the current gold spot price than many other gold bullion coins do. With gold content and authenticity fully backed by the South African Mint, buying gold Krugerrands online is one of the cheapest ways to buy gold bullion online. The low premium that the Krugerrand carries over the gold spot price has made them a favorite among investors who buy gold coins online. Additionally, with the long production run of the gold Krugerrand, many mint dates are available, increasing their collectibility. In addition to the standard, uncirculated version, the South African Mint also produces proof Krugerrands. These are distinguished by the increased number of serrations in the reeded edge - 220 instead of the standard 160. Purchasing a Gold Krugerrand also makes for a great gift idea.
History of the South African Krugerrand
The Krugerrand is famous for being the world’s first gold bullion coin -- indeed by 1980 the Krugerrand alone accounted for 90% of the world gold bullion market. The name is a portmanteau of Kruger, the famous Boer and South African statesman, and Rand, the South African unit of currency. The Krugerrand has a somewhat checkered past -- during the Apartheid era, with economic sanctions against South Africa hurting sales, production plummeted, and Krugerrands with these dates can be quite rare. Production has since increased but hasn’t yet reached the pre-Apartheid record of six million coins in 1978. Gold Krugerrands have attracted considerable interest from the coin collecting community over the years. Certainly the pieces have some numismatic value, but that value is still dwarfed by the melt value of gold contained in each coin.
Buying Gold Krugerrands Online
The Krugerrand still makes up a large portion of the world gold bullion market. Because of its unique history among gold bullion coins and some hard-to-find mint dates, the Krugerrand also has significant numismatic value, as well as bullion value based on the current gold spot price. That is a large benefit to buying gold Krugerrands online -- online bullion stores like CBMint not only offer much lower prices than coin shops, they also can use their distribution network to locate specific mint dates. Should you have any questions about buying Gold Krugerrands online from CBMint, do not hesitate to Contact Us, or call CBMint toll-free at 1-866-300-0504.