1 Oz Gold South African Krugerrand Coin
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Beautiful 1 oz Gold South African Krugerrand Coin of a various year. Each coin comes in brilliant-uncirculated condition and contains 0.9167 (22k) fine gold.
The most famous gold coin in history, the Krugerrand, is an essential part of your collection. The South African Gold Krugerrand Coin weighs 1.09 troy ounces and is composed of 0.9167 fine gold or 22k. First introduced by the South African Mint in 1967, the Krugerrand has become the most recognized and widely owned gold bullion coin in the world. 1980 krugerrand gold coin mark the year these coins dominated over 90% of the global gold market. Each 1 Oz South African Gold Krugerrand is 32.77 mm in diameter and 2.84 mm thickness. Considering the coins intended use was currency in South Africa, they are made from a durable alloy of gold and copper, also known as crown gold, hence the lack of lustrous finish. The coins have a very distinct and deep color distinguishing them from other gold coins.
The obverse of the african gold coin features a profile of Paul Kruger aka Uncle Paul who was a resister to British colonialism and the last President of the South African Republic from 1883 to 1900. Paul Kruger is surrounded by dual inscription, in English and Afrikaans, of “South Africa.” The reverse of the 1 Oz South African Gold Coin highlights a Springbok antelope, one of South Africa’s native fauna symbols and has inscriptions stating the name of the coin and gold content.
Uniquely, South Africans decided to make the Krugerrand legal tender for the “value of one ounce of gold,” meaning whatever the value of gold was any given day was the value of the coin, instead of listing a face value. As a result of leaving the face value off of the coin, the market could decide the value of the Krugerrand. This had an amusing influence on the value of the United States dollar- the Gold Krugerrand Coin being legal tender for the value of one ounce of gold, under the Bretton Woods system, the coin is valued at $35 and recognized internationally as being worth $35. South Africa had figured out a way to create US Dollars outside of the Federal Reserve System.
By 1980 they made up 90% of the market share in gold coins. The Rand Refinery is now the largest gold refinery in the world. Part of its success was due to the fact that its price was not pegged to any fiat currency. Instead, the price was left solely for the market to decide. These uncirculated coins are available in fractions of 1 oz, ½ oz, ¼ oz, and 1/10 oz denominations. Once upon a time, the Krugerrand was virtually the only legal way to hold physical gold in several countries. Due to its status under Bretton Woods and its designation as legal tender in South Africa, it is easy to trade Krugerrands on a global level. Citizens of the United Kingdom are allowed to import Krugerrands without paying import taxes, duties, or VAT. Don't miss out on this opportunity to be a part of history and increase your hard assets.
|Mint / Brand||South African Mint|
|Composition||.9167 Fine Gold (22 Karat/Crown Gold)|
|Measurement||32.77 mm diameter - 2.84 mm thickness|
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