South Africa 1/10 oz Gold Krugerrand BU
First introduced in 1967, the Krugerrand was the first modern Gold bullion coin in the world, and remains a favorite among collectors and investors today. The Krugerrands were minted to assist in promoting South African Gold to the international markets. Krugerrands were never assigned a face value, but were designed to derive their value from the price of Gold at the time they are traded. The Gold Krugerrand is prized around the world, with a highly sought-after design inspired by history. They feature 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. On the Krugerrand Gold coin, the springbok seems to be jumping into action, while President Kruger is a reminder of 19th century South African political and military affairs.
Krugerrands are durable by design because they are minted .9167 oz of fine Gold with the remaining alloy of Copper. The Gold content defines the Krugerrand’s value, plus a premium that is dictated by market conditions. The Gold Krugerrand is one of the most easily recognizable and widely owned Gold coins in the world.
South African Mint
The South African Mint manufactures Proof Krugerrand and works with the Rand Refinery to mint the bullion Krugerrand. The mint produces coins on behalf of and is a wholly owned subsidiary of the South African Reserve Bank. In 1886, when Gold was discovered near the Witwatersrand area of Johannesburg, President Paul Kruger decided to establish a national mint. Today, the South African Mint is one of the world’s top exporting mints.