The face of Paul Kruger, shown on the obverse side of the coin.

A Krugerrand is a South African gold coin, first minted in 1967 in order to help market South African gold. The coins have legal tender status in South Africa but are not actually intended to be used as currency, which is a reason it is regarded as being one of the world's medal-coins. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... Paul Kruger Stephanus Johannes Paulus Kruger (10 October 1825 – 14 July 1904), better known as Paul Kruger and fondly known as Oom Paul (Afrikaans for Uncle Paul) was a prominent Boer resistance leader against British rule and president of the Transvaal Republic in South Africa. ... Gold coins are one of the oldest forms of money. ... Year 1967 (MCMLXVII) was a common year starting on Sunday and the summer of 1967 was known as The Summer of Peace and Love (link will display full calendar) of the 1967 Gregorian calendar. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... A medal-coin or non-circulating legal tender (NCLT) coin is regarded as legal tender, but it does not circulate for the following reasons: Intrinsic value (numismatics) exceeds the denominational value. ...

History

The Krugerrand was the first bullion coin to be tenderable at the market value of its face gold content; by contrast, earlier gold coins such as the gold sovereign had a tender value in currency engraved on their face, which could be completely divorced from their market value. The Krugerrand was the first gold coin to contain precisely one ounce of fine gold, and was intended from the moment of creation to provide a vehicle for the private ownership of gold. By bestowing legal tender status upon the coin, Krugerrands could be owned by citizens of the United States, which at that time prohibited private ownership of bullion but allowed ownership of foreign coins. However, due to the policy of apartheid in South Africa, the Krugerrand was declared illegal to import in many Western countries during the 1970s and 1980s until that system was lifted between 1990 and 1994. A precious metal is a rare metallic element of high, durable economic value. ... Market capitalization, often abbreviated to market cap, mkt. ... Three Gold Sovereigns with a Krugerrand A Gold Sovereign is a British gold coin, first issued in 1489 for Henry VII, generally with a value of one pound sterling. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Standard atomic weight 196. ... A segregated beach in South Africa, 1982. ...

Properties

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Originally, it was sold at a significant premium of five percent over the base gold value, and only one size of coin was made, containing one troy ounce (31.1035 g) of gold. Today Krugerrands are offered in a variety of sizes, at attractive premiums of no more than one percent above the market price of gold. Image File history File links Broom_icon. ... Troy weight is a system of units of mass customarily used for precious metals and gemstones. ... BIC pen cap, about 1 gram. ...

Since the Krugerrand is minted from gold alloy that is 91.67 percent pure (22 karats), the actual weight of a "one ounce" coin is 1.0909 ounces (33.93 g), to provide one ounce of pure gold. The remainder of the coin's mass is made up of copper (2.826 grams), giving the Krugerrand a more orange appearance than silver-alloyed gold coins. Alloys are used to make gold coins harder and more durable, so they can resist scratches and dents during handling. In 1980, three other sizes were introduced, offering a half, quarter, and tenth ounce weights. In total, 54.5 million coins have been sold. Carat is a measure of the purity of gold and platinum alloys. ... The ounce (abbreviation: oz) is the name of a unit of mass in a number of different systems, including various systems of mass that form part of English units, Imperial units, and United States customary units. ... General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11, 4, d Appearance metallic pinkish red Standard atomic weight 63. ... Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ...

Krugerrands: Their gold content is exactly one troy ounce.

Krugerrands are a popular way to invest in gold because they have low premiums over spot pricing.

The Krugerrand gets its name from the fact that the obverse shows the face of Paul Kruger, a prominent Boer resistance leader against the British and eventually the fifth, and last president of the old South African Republic holding that office for four terms. The reverse depicts a springbok antelope, one of the national symbols of South Africa that was designed by Coert Steynberg and used on the reverse of the earlier 5 shilling South African coinage for King George VI and Queen Elizabeth II. The name "South Africa" and the gold content are inscribed in both Afrikaans and English. Image File history File linksMetadata No higher resolution available. ... Image File history File linksMetadata No higher resolution available. ... Image File history File linksMetadata Size of this preview: 800 × 518 pixelsFull resolution (2358 × 1526 pixel, file size: 1. ... Image File history File linksMetadata Size of this preview: 800 × 518 pixelsFull resolution (2358 × 1526 pixel, file size: 1. ... In logic (and usually without being paired with reverse), obverse has a meaning close to contrapositive. ... Paul Kruger Stephanus Johannes Paulus Kruger (10 October 1825 – 14 July 1904), better known as Paul Kruger and fondly known as Oom Paul (Afrikaans for Uncle Paul) was a prominent Boer resistance leader against British rule and president of the Transvaal Republic in South Africa. ... Anthem Transvaalse Volkslied Location of the Transvaal in pre-1994 South Afica Capital Pretoria Language(s) Dutch, English, Afrikaans Religion Dutch Reformed Church Government Republic President  - 1857-1863 Marthinus Wessel Pretorius  - 1883-1902 Paul Kruger  - 1900-1902 Schalk Willem Burger (acting) History  - Established June 27, 1857  - British annexation 1877-1881... Binomial name Antidorcas marsupialis (Zimmermann, 1780) For other meanings of Springbok, see Springbok The Springbok (Afrikaans: spring = jump; bok = antelope, deer, or goat) (Antidorcas marsupialis) is a small brown and white gazelle that stands about 75 cm high. ... Coert Steynberg (born 1905, died 1982) was a sculptor and coin designer from South Africa. ... Afrikaans is a West Germanic language mainly spoken in South Africa and Namibia. ... The English language is a West Germanic language that originates in England. ...

The word Krugerand is a registered trade mark owned by Rand Refinery Limited, a South African corporation of Germiston, South Africa.

The success of the Krugerrand led to many other gold-producing nations minting their own bullion coins, including the Canadian Gold Maple Leaf in 1979, the Australian Nugget in 1981, and the American Gold Eagle in 1986. Obverse of a Gold Canadian Maple Leaf bullion coin. ... Also: 1979 by Smashing Pumpkins. ... The Australian Gold Nugget is a bullion gold coin minted by Royal Australian Mint. ... Year 1981 (MCMLXXXI) was a common year starting on Thursday (link displays the 1981 Gregorian calendar). ... The American Gold Eagle is the official bullion gold coin of the United States. ... Year 1986 (MCMLXXXVI) was a common year starting on Wednesday (link displays 1986 Gregorian calendar). ...

Edge - Number of Edge Serrations

Obverse details of the silver Krugerrand

The obverse has the portrait of President Kruger in high relief. His name is inscribed as 'STEFANS JOHANNES KRUGER'. Greek figure Alto-relievo or high-relief, are figures carved out of a tablet that project at least one half of cross-section from the tablets surface. ...

Reverse details of the silver Krugerrand

The reverse depicts Coert Steynberg's pronking springbok design, just like that on the gold Krugerrand. Above the springbok is the inscription 'ONE TROY OZ .999 FINE SILVER' in three lines. Around the design is the inscription 'KRUGERRAND COMMEMORATIVE' and the double dates '1967-1982', '1967-1983' and so on. Coert Steynberg (born 1905, died 1982) was a sculptor and coin designer from South Africa. ... Binomial name Antidorcas marsupialis (Zimmermann, 1780) For other meanings of Springbok, see Springbok The Springbok (Afrikaans: spring = jump; bok = antelope, deer, or goat) (Antidorcas marsupialis) is a small brown and white gazelle that stands about 75 cm high. ...

Silver Krugerrand

During the 1980s, a (so-called) silver Krugerrand was struck; however, this was struck privately. The most common dates that have been seen are the 1982 and 1983 issues, but other dates have been reported. The 1982 issue commemorates the 15th anniversary of the gold Krugerrand, and the 1983 issue commemorates the 16th anniversary of the gold Krugerrand. It is interesting to note that there is no reference to South Africa anywhere on these coins. Like the gold Krugerrand, the silver Krugerrand is traded based on its bullion value. The silver Krugerrand is arranged in coinage alignment, as opposed to the medallic alignment of the gold Krugerrand. Like the gold Krugerrand, the silver Krugerrand also has a milled edge. Medallic orientation (or medal alignment or variations of these) is a feature of coins. ...

As the word krugerrand is a trademark, it is not correct or legally sound to refer to these silver discs as "silver krugerrands", they are medallions which merely purport to be silver krugerrands, in breach of the intellectual property rights of the trademark owner. It may be noted that there is no indication on these medallions of who issued them. Many of these medallions are offered for sale on eBay, which has persistently failed to act on reports that these listings are misleading and fraudulent.^{[citation needed]} eBay headquarters in San Jose eBay North First Street satellite office campus (home to PayPal) eBay Inc. ...

Silver Krugerrand fractional coins

These have been reported. The most common silver Krugerrand fractional coin that turns up is the 1/10 Krugerrand.

See also

Numismatics Portal

• Gold as an investment
• Inflation
• South African rand

Image File history File linksMetadata Download high resolution version (910x910, 596 KB)Media:Example. ... Reserves of foreign exchange and gold in 2006 A pile of 12. ... ISO 4217 Code ZAR User(s) Common Monetary Area: Lesotho, Namibia, South Africa, and Swaziland Inflation 5. ...

External links

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Krugerrand

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