The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. It was minted in a copper-gold alloy more durable than pure gold. By 1980 the Krugerrand accounted for 90% of the global gold coin market.
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When was the first Krugerrand made
The original Krugerrand, consisting of 1 troy ounce of pure gold, was minted by the South African Mint. The shape of the Krugerrand was based on the ZAR or Kruger Ponde, earlier coins from South Africa.
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Why is it called the Krugerrand
The design, which has the characteristics of South Africa’s national symbol, was designed by sculptor Cort Steinberg. The income name is a combination of Paul Kruger’s last name and “Rand”, which is currently used to refer to South Africa. Like any other coveted item, your current Krugerrand has found imitators.
Where can I buy a Krugerrand
Krugerrands can be sold through authorized Rand Refinery and South African Mint dealers. A complete list of authorized local and therefore international Krugerrand dealers can be found on this website.
What happened to South Africa’s Krugerrands
As awareness of South Africa’s apartheid policies, the country’s system of racial segregation, grew, the Krugerrands’ interest in knowledge waned. In the 1970s and 1980s, many Western regions banned the import of Krugerrands as part of the economic sanctions imposed against the apartheid regime in South Africa.
What is so special about Krugerrand
The Is Krugerrand is made from an alloy of copper and gold with a total weight of 1.0909 troy ounces, of which typically one troy ounce is 24-hour fine (0.999) gold. The copper alloy gives it a high level of security and scratch resistance, while the Krugerrand has a distinctive orange hue.
Are Krugerrands illegal in the US
Finally, in 1985, the United States restricted the importation of the Krugerrand. Many investors misunderstood this ban and also considered it illegal to own Krugerrands in the United States (the ban on scanning has been lifted, so importing Krugerrands is now allowed again).
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