What is a Krugerrand coin?
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Ava Hernandez
Studied at Harvard University, Lives in Cambridge, MA
As a subject matter expert in numismatics, the study of coins, I can provide you with a detailed explanation of the Krugerrand coin.
The Krugerrand is a gold coin first minted in 1967 in South Africa. It is considered one of the first modern bullion coins, which means it is a coin that is valued not only for its face value as legal tender but also for its precious metal content. The Krugerrand was created to help market South Africa's gold and to compete with gold coins from other nations.
The name "Krugerrand" is derived from the Boer leader Paul Kruger, whose image is on the obverse side of the coin, and the rand, the South African unit of currency. Initially, the Krugerrand was only available in a one-ounce gold version, but over the years, fractional sizes (1/2, 1/4, and 1/10 ounce) have been introduced.
The reverse side of the coin features a Springbok, a type of antelope that is a symbol of South Africa, and the rand value of the coin along with the date of issue. The coin is made from a unique alloy of 91.67% gold and 8.33% copper, which gives it a distinct color and durability.
The Krugerrand has played a significant role in the history of gold coins and has been a popular investment vehicle for many years. It is recognized for its high gold content, historical significance, and widespread availability.
The Krugerrand is a gold coin first minted in 1967 in South Africa. It is considered one of the first modern bullion coins, which means it is a coin that is valued not only for its face value as legal tender but also for its precious metal content. The Krugerrand was created to help market South Africa's gold and to compete with gold coins from other nations.
The name "Krugerrand" is derived from the Boer leader Paul Kruger, whose image is on the obverse side of the coin, and the rand, the South African unit of currency. Initially, the Krugerrand was only available in a one-ounce gold version, but over the years, fractional sizes (1/2, 1/4, and 1/10 ounce) have been introduced.
The reverse side of the coin features a Springbok, a type of antelope that is a symbol of South Africa, and the rand value of the coin along with the date of issue. The coin is made from a unique alloy of 91.67% gold and 8.33% copper, which gives it a distinct color and durability.
The Krugerrand has played a significant role in the history of gold coins and has been a popular investment vehicle for many years. It is recognized for its high gold content, historical significance, and widespread availability.
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Works at the International Development Association, Lives in Washington, D.C., USA.
The Krugerrand is 32.77 mm in diameter and 2.84 mm thick. The Krugerrand's actual weight is 1.0909 troy ounces (33.93 g). It is minted from gold alloy that is 91.67% pure (22 karats), so the coin contains one troy ounce (31.1035 g) of gold.
2023-04-15 08:05:55
Sebastian Cooper
QuesHub.com delivers expert answers and knowledge to you.
The Krugerrand is 32.77 mm in diameter and 2.84 mm thick. The Krugerrand's actual weight is 1.0909 troy ounces (33.93 g). It is minted from gold alloy that is 91.67% pure (22 karats), so the coin contains one troy ounce (31.1035 g) of gold.
