Krugerrand Gold Coin History
Krugerrand gold coin is the first modern bullion and contains exactly one ounce of gold. Krugerrand gold coin is the most common modern bullion in the world. Until today nearly fifty million ounces of gold coin-shaped Krugerrand were issued. That is more than any other gold coins and also all other modern bullion together.
Krugerrand approved by the Central Bank of South Africa. Krugerrand opened the gold market and is used as a means of investment. Krugerrand has some unique features compared with other investment enablement gold. The weight of gold contained in one Krugerrand is exactly one ounce and it is easy to calculate its price and tally the number of gold coins. Thus, Krugerrand was different to other gold coins and older ones were available in the market. Weight of the coin example is .9675 of an ounce: some kind of currency was worth it if the gold price was for example $140? So in the case of Krugerrand calculation is always at its most, just $ 140.
The Gold Krugerrand Coin
In the first half of the twentieth century, gold coins of this issue ceased to be valid, because the gold has lost its status as a means of trade and payment. A gold coin Krugerrand was used primarily for collecting trade or investment. .
At that time there were gold bars, gold investment option premium wasn’t high. The problem with them was that they were very large and accounted for hundreds of pounds. Another unique feature of Krugerrand – They display currency with the exact weight of an ounce and made investment easier, they also appealed to a wider audience of investors and did not require knowledge of the calculations of gold and gold prices.
What Is The Krugerrand Gold Coin
Another advantage is that Krugerrand as a currency, buying bullion gold bars had to undergo an evaluation of weight and purity. Gold bars were issued by private companies. And Kruggerand currency is issued by bullion, then he won the high reliability of its purity and weight ..
Plus currency Krugerrand was under a legal status then and when trading with it VAT and customs was not charged in many countries and it greatly facilitated the dissemination process.
Krugerrand was very successful and was the most popular currency in the seventies and early eighties. Following the success of Krugerrand other countries started to issue gold coins that were similar to Krugerrand Buillon.
Krugerrands period was also not good. By 1985 the United States and other countries banned the import of Krugerrand by the government. This prohibition lasted until 1994 to 1995 . Krugerrand gold is 91.67% and 8.33% copper which is what gives it its reddish hue and strength comparing combined silver alloy.
Selling Krugerrand Gold Coin For Cash
Krugerrand design is inspired by the famous president of South Africa who served in 1983 Paul Kruger and the coin bears the portrait and its name Krugerrand is a connection of two words Krueger and Rand. The currency appears on the back of antelope and is on of the national symbols of South Africa. Krugerrand was designed by Quart Steinberg, an emphasis on the weight of gold coin was central to its value.