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Krugerrand Gold Coin

What is 'Krugerrand Gold Coin'

A gold coin minted by the Republic of South Africa. Krugerrand gold coins contain exactly one troy ounce of gold. This coin was first minted in 1967 in order to stimulate the market for South African gold. It is considered legal tender within the country.

Explaining 'Krugerrand Gold Coin'

The Krugerrand is one of the more frequently traded gold coins in the world market. It was the first gold-bullion coin that was tenderable at the market value of its face gold content. Because it was not supposed to be a replacement for the currency, it is considered to be a medal coin by definition.


Further Reading


Asymmetric volatility in the gold market
jai.pm-research.com [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …

South Africa and selective economic sanctions a Canadian perspectiveSouth Africa and selective economic sanctions a Canadian perspective
www.africaportal.org [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …

An evaluation of gold as an inflation hedge: Empirical evidence from South AfricaAn evaluation of gold as an inflation hedge: Empirical evidence from South Africa
muse.jhu.edu [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …

The Development and Promotion of Markets for GoldThe Development and Promotion of Markets for Gold
www.sciencedirect.com [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …

Getting Over by Reaching Out: Lessons from the Divestment and Krugerrand CampaignsGetting Over by Reaching Out: Lessons from the Divestment and Krugerrand Campaigns
www.tandfonline.com [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …

Re-introducing gold: An Islamic finance approachRe-introducing gold: An Islamic finance approach
platform.almanhal.com [PDF]
… Asymmetric Volatility in the Gold Market. Dirk G. Baur. The Journal of Alternative Investments Spring 2012, 14 (4) 26-38; DOI: https://doi.org/10.3905/jai.2012.14.4.026. Dirk G. Baur. is a senior lecturer in the Business School at the University of Technology in Sydney, Australia …



Q&A About Krugerrand Gold Coin


How much does a Krugerrand weigh?

One troy ounce.

Who was Paul Kruger?

He was the President of South Africa from 1883 to 1902.

When did production begin on this coin?

Production began on 3 July 1967 at Rand Refinery's plant in Germiston, Gauteng Province, South Africa and continued until 28 February 2002 when production ceased due to declining demand for gold bullion products as well as rising costs associated with producing such products that made them no longer profitable to produce or sell at their face value price per troy ounce of gold contained within each product sold by the Mints that produce these types of products including but not limited to the South African Mint which produces this type of product along with other types of precious metal bullion coins like silver bullion coins like American Silver Eagles which are also produced by various government mints around the world including but not limited to those located in Austria, Canada, China (People's Republic), Finland, France (La Monnaie de Paris), Germany (Bundesdruckerei), India (Mint Mumbai), Italy

What are some characteristics of this coin?

It has a gold content of exactly one troy ounce, it is 22 carat (91.67% pure) and weighs 33.93 grams (1.097 ounces).

How much does it weigh?

It weighs 33.93 grams (1.097 ounces).

How many coins were minted in 1967 to help market South African gold?

In 1967, Rand Refinery produced 20,000 coins for marketing purposes and another 10,000 for presentation purposes only.

What is the name of this coin?

Krugerrand gold coins.

What is the name of the coin?

The Krugerrand.

Where was this coin minted?

In South Africa.

Where does the name come from?

The name comes from combining "Kruger" and "Rand".

What does legal tender mean in this context?

Legal tender means that it can be used to pay off debts and taxes within the country where it is issued. It is not supposed to replace currency, but rather be traded as a commodity or bullion for its gold content value. This makes it different than other coins which are intended to circulate as money and therefore have no face value beyond their intrinsic metal value (i.e., they are fiat currencies). The term "medal" refers to any object made out of precious metals that has no monetary function but may still be considered valuable for its material content alone, such as commemorative coins or medals given out at an event like the Olympics or World's Fair, etc.. These objects are also often referred to as numismatic items because they are collectible by nature due to their rarity and/or artistic design on them (such as commemorative coins). They may also have some collector value based on historical significance; however, unlike true numismatic items, these pieces do not generally appreciate in price over time due solely to age or scarcity factors (as opposed to being rare because they were only produced in limited quantities). A medal is usually larger than a coin and has no denomination printed on it; however, many medals do have a face value imprinted upon them so that they can be exchanged for goods just like any other form of currency if necessary. For example, Olympic medals typically have a stated face value ranging anywhere from $5

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