Sell Gold Krugerrand to the Best Buyer in Las Vegas, NV
The Gold Krugerrand is considered as the grandfather of modern bullion. A Krugerrand is a South African coin produced by the South African Mint and the Rand Refinery. It was first minted on July 3, 1967 with the purpose of marketing South African gold. The term Krugerrand is a combination of the former President of the South African Republic (Paul Kruger) and the South African unit of currency (rand).
In 1980, the majority of investors preferred storing their riches in Krugerrands, which accounted for about 90% of the global coin market at the time. For a while, the name “Krugerrand” was widely synonymous with the term “gold coins.” However, between the 1980s and 1990s, the Krugerrand feel out of favor after Western countries banned the importation of Krugerrand coins due its association with the apartheid government of South Africa.
Gold Krugerrands are among the coins that do not carry any face value, which means they have not been assigned any value in Rand. However, the South African Reserve Bank of 1989 considers it as a legal tender. The amount of gold contained in Gold Krugerrands carry most of the coin’s value. This is why understanding the price of gold is important when it comes to finding out the value of a Gold Krugerrand.
The obverse of a Gold Krugerrand features Otto Schultz’s portrait of Paul Kruger, who was the President of South African Republic during 1883 to 1900. He held office in 1896 when the world’s most profitable mines (Durban Deep) was founded. One the same side, the line “SUID-AFRIKA · SOUTH AFRICA” can be seen in the coin’s legend.
Meanwhile, on the reverse side of the coin is the image of a springbok Antelope by Coert Steynberg. The mint date of the coin can be seen in the coin’s field. The legend is inscribed with “KRUGERRAND” and the gold weight.