The 1 Ounce Gold Krugerrand is the official gold bullion coin of South Africa, and was the first major gold bullion coin to be manufactured, with production beginning way back in 1967. Though gold Krugerrands have been minted in four different weights, the 1 Ounce Gold Krugerrand is the standard piece and has always been the most popular version among buyers who invest in gold. Like most government-minted gold bullion coins, the 1 oz Gold Krugerrand is legal tender in South Africa, though, of course, each coin is worth far more due to the value of gold contained within the coin.
Details of the 1 Ounce Gold Krugerrand
The Gold Krugerrand has a long and storied history. The first major gold bullion coin in the world, the Krugerrand appeared decades before the US Gold Eagle, the Chinese Gold Panda, and the British Gold Britannia. By 1980, the Krugerrand accounted for 90% of the entire gold coin market. Annual production of gold Krugerrands has greatly varied — initial production was low, but during the gold boom of the 1970s and early 1980s, production skyrocketed, with 1978 seeing a staggering 6 million 1 Ounce Gold Krugerrands produced for the world gold markets.
The design of the Krugerrand has not changed much since its inception. The obverse shows a profile of former Boer President Paul Kruger, whose name obviously lends itself to the overall name of the coin. The reverse shows a springbok antelope, one of the national symbols of South Africa. Also displayed are the weight, the gold fineness, and the date of minting. The Krugerrand eventually superseded the gold Rand coins, which were also made by the South African Mint.
Investing in Gold Krugerrands
Because the 1 oz Krugerrand is an official gold bullion coin, its weight, purity, and authenticity are fully guaranteed by the South African Mint. The Krugerrand is so popular and so many have been produced, that they actually tend to trade closer to the current spot gold price than many other gold bullion coins. Buying 1 Ounce Gold Krugerrands online is a great and inexpensive way to add gold value to your bullion portfolio. The 1 oz Gold Krugerrand also has significant numismatic value, so coin collectors and gift seekers are also heavy buyers of these coins.
Gold Krugerrands are manufactured from a 22 karat gold-copper alloy known as Crown Gold. This alloy increases the hardness and durability of each coin and also gives the Gold Krugerrand its distinctive orange-colored hue. The overall weight of the 1 oz Krugerrand is actually 1.0909 troy ounces, thereby ensuring that each 1 Ounce Gold Krugerrand contains exactly 1 troy ounce of gold.
Buying 1 Ounce Gold Krugerrands Online from CBMint — Shipping and Insurance
After you buy 1 Ounce Gold Krugerrands online at CBMint and then finish the checkout process, we carefully prepare your order for shipment. Each Krugerrand is placed in protective plastic packaging, and the entire shipment is then placed in protective and discrete packaging before it is shipped direct to your address. Regardless of the dollar amount of your order, all orders through CBMint are fully covered by insurance while they are in transit.
Help with Buying 1 Ounce Gold Krugerrands
Given the current spot price of gold, buying 1 troy ounce of gold online can be a fairly large investment; therefore, we hope to be able to provide you assistance in any way you may need. CBMint features several online help pages, such as our FAQ, an Investing Guide, a Glossary, and a Product Information Page. If you need further help when buying Gold Krugerrands online, CBMint has, in addition to our Contact Us Page, a Live Chat feature, where you can chat directly with one of our representatives. We also encourage all customers with questions to call CBMint toll-free at 214-597-1571.