History of South African Krugerrand Coin
Before the Krugerrand was introduced, South African gold coins were released under different names. The most important of these were known as the Pond and the Protea. However, since South Africa wasn’t a member of the Commonwealth at that time, it couldn’t release its bullion pieces under the name of the British Monarch.
Instead, they struck coins under a famous South African statesman and President: Paul Kruger. His image appeared on all gold issues from 1892 to 1933. This is why these became known as Krugerrands; an eponym derived from his last name “Kruger” and the word “rand”, which is the South African name for a theoretical unit of currency.
After Kruger’s death, the coins were still struck and had his image on the obverse side. However, they featured no indication of their value on the reverse anymore. Instead, they carried exclusive images that made them even more popular with investors.
Among the most noteworthy pieces of the series are the Protea and the Springbok.
The South African Krugerrand Series, on the other hand, is a more recent creation. Today, it remains one of the most reputable and popular coins with investors. In 2017, to commemorate the 50th anniversary of the series, the South African Mint released a first-ever Silver Krugerrand. The decision was so successful that they mint released a second version in 2018.
The South African Mint decided to commemorate these pieces by including them in a single series: The Krugerrand Collection. This collection features two coins: A gold coin, which has been released in four variants since 2017 and a silver one, which was released in 2018.
Gold Krugerrands are available in 1/10oz, 1/4oz, 1/2oz and 1oz. On the other hand, the Silver Krugerrands are only available in 1oz silver only.
How much is a silver Krugerrand worth?
The Silver Krugerrand, unlike the gold coin, has a face value of one South African Rand. Despite having an assigned face value, the real worth of the currency is determined by a variety of variables. The coin’s actual worth is determined by its weight, metal purity, and at the time of sale, its market price. We have live silver prices at the current spot market to determine your silver.
Are Silver Krugerrands a good investment?
The gold and silver Krugerrand coins are an excellent addition to any investment portfolio due to their outstanding value and beautiful design. They are an ideal option for those who want their money to grow over time without worrying about the ups and downs of the market.
The value and size of the Krugerrand have made it a popular precious-metals investment. Both professional and private investors seeking to invest in gold bullion directly, hedge their portfolios against the US dollar, or diversify their holdings continue to be drawn to the scarcity and value of the Krugerrands.
