Krugerrand Gold Coins – 10 Fun Facts
In my earlier piece, entitled, “Krugerrand Gold Coins – The First Contemporary Gold Bullion Coins,” I discussed the basic background and additional over-all information about the Krugerrand Gold Coin. In this particular follow-up piece, I am going to provide you with ten fascinating facts or tidbits about the Krugerrand, which in turn you might use to enlighten your fellow gold enthusiasts!
1. The Krugerrand has a distinct reddish-copper color, unlike other modern gold bullion coins. This is due to its high copper content of 8.33%.
2. Look at the reverse side of other modern gold coins such as the Canadian Maple Leaf and the American Gold Eagle. Now take a peek at the back of the gold Krugerrand. Notice anything different? The Krugerrand bears no currency denomination. The value of the coin is the value of its gold content.
3. The name of the coin – Krugerrand – is actually an amalgam or combination of the words “Kruger,” which is the last name of the 5th President of the South Africa republic, Stephanus Jonannes Paulus Kruger, and “Rand,” which is the name of the currency of South Africa.
4. The animal that is featured on the reverse side of the coin is a leaping springbok (antelope). The springbok is South Africa’s national animal.
5. The coin is also minted in a proof edition. If you count the serrations on the edge of the coin, you’ll find that the bullion version has 180. Now count the proof serrations. That version has 220!
6. I’ll bet you didn’t know that the word “Krugerrand” is actually a registered trademark of the Rand Refinery!
7. Most modern gold bullion coins also have a silver edition. Not so with the Krugerrand. Why so? Because
8. Even though gold Krugerrands have been minted since 1967, it has only been legal for Americans to own them since 1975. This is because of the prohibition on gold ownership issued by President Roosevelt in 1933 that was in force until that time.
9. The importation of the coin was banned in 1984 by Congress and President Ronald Reagandue to apartheid and boycott of South Africa. The boycott was lifted in 1994.
10. The word “Krugerrand” is often misspelled as “Kruggerand!”
I hope you enjoyed learning a little trivia about Krugerrand gold coins. In my next article, I will look at the advantages of buying Krugerrands over other modern gold bullion coins!
Christina Goldman has been collecting and investing in silver and gold bullion since 1999. She believes that everyone should invest at least ten percent of their savings in either gold or silver, for diversification, wealth preservation and currency protection.
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