Description
The Krugerrand was 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 used as currency.
These are ideal bullion coin for British investors because they are VAT Free.
The Krugerrand was the first bullion coin that could be used as legal tender at the market value of its face gold content. Earlier gold coins such as the gold sovereign had a tender value in currency engraved on their face which could differ significantly from their market value.
The Krugerrand was the first gold coin to contain precisely one ounce of fine gold and was intended to provide a vehicle for the private ownership of gold.
Since the Krugerrand is minted from gold alloy that is 91.67 percent pure (22 carats), the actual weight of a “one ounce” coin is 1.0909 troy ounces (33.93 g), to provide one troy 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.
