Silver South African Krugerrand Coins
South African Silver Krugerrand Coins
Design and Specifications
The 1 oz Silver Krugerrand contains 1 oz of .999 fine silver with an issued face value of 1 Rand (R1) by South Africa. The design is the same as it was when the coin was introduced in 1967. Designers at the South African Mint undertook an intensive re-examination of the Krugerrand and discovered some of the artistic detail of the original design had been lost. The detail was put back by the mint, using modern technology to enhance the beauty of the Krugerrand. It features the South African Republic's first president, Paul Kruger. On the reverse, a springbok, which is the national animal, and the date of minting appear. The springbok seems to be jumping into action, while President Kruger is a reminder of 19th century South African political and military affairs. Silver Krugerrands may be purchased in units of 100 and are eligible to add into your IRA.
Krugerrand coins once dominated the precious metals marketplace. In the early decades of gold bullion coining, the South African Krugerrands 1 oz gold coin accounted for 90% of gold bullion coins in the world. The introduction of other gold bullion coin programs in the 1980s, combined with an economic boycott by Western nations, cut into the dominance of the Krugerrand. Today, however, the South African Krugerrand Series remains one of the most trusted and popular coins with investors. After the new silver coin’s debut in 2017, the move proved so popular that the mint made the Silver Krugerrand an annual release and expanded its reach in the market to silver buyers in the process.
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