Skip to main content

Investing in gold bullion - krugerrands

Investing in gold bullion


Krugerrand was first released on July 3,1967. The circulation of the first issue amounted to 40 000 pieces of coins stamped with an ordinary stamp and 10 000 pieces of coins stamped with a mirror stamp for collectors.

Krugerrand the first and most popular gold bullion coin


It was Krugerrand, as a coin with no denomination, that became the basis for all bullion coins, whose value depends mainly on the value of the bullion contained in the coin. So far, 54 million golden Krugerrands have been issued, which places this coin in the first place in terms of popularity among all bullion coins in the world.

Specification of Krugerrand


Weight: 33,93 grams
Contents of genuine gold in the coin: 1 ounce
Gold sample: Au 916,6
Mint: Rand Rafinery
Country of origin: South Africa
Coin size: 32,61 / 2,8 mm. Dimensions of coins from the latest year-olds and those from the 70's can vary in diameter +/- 0,2 mm, thickness -0,3 mm.

Krugerrand due to gold fever


However, Krugerrand's history did not begin at the Rand Rafinery Mint. The beginning of Krugerrand's is a gold fever, which began with the discovery of large deposits of gold in the southern African mountain range of Witwatersrand.

These mountains were so rich in gold that they were commonly called the "Golden Ark". It covers an area of more than 500 square kilometres and covers most southern African mines.

The fight for gold South Africa


Nowadays it is hard to find accurate data, but it is estimated that the gold in the Witwatersrand band was discovered in the years 1884-1886, which caused numerous wars of control and control over this area. President of Transvaal at that time was Paul Kruger, and the discovery of large deposits of gold caused an enormous migration of people to this area, which led to the Second Boerean War in 1899.

Boeers (local name of farmers from South Africa borrowed from Dutch) fought steadfastly, but they died and control over Transvaal was taken over by Great Britain in 1902.

Great gold refinery 


The South African mines needed an institution capable of converting and objectively assessing the purity of the extracted bullion, which is why the Mint of Rand Rafinery, whose main task was to refine the gold mined in the Witwatersrand massif, was set up at the request of the Transvaalian mining chamber.

The Mint will later be the world's largest gold refinery specialising in the production of gold disks for coins, bars and jewellery.

Gold confiscation, but not golden Krugerrands


After Executive Decree No. 6102, introduced in 1933 under Roosevelt's rule, U. S. citizens were banned from owning gold, but this ban did not apply to foreign coins, i. e. it did not apply to gold Krugerrands either.

His popularity was fuelled by the fact that he didn't have to be a great specialist to know what dimensions, and gold weight and test he needed to have a golden Krugerrand, which was due to the fact that he didn't have to perform complicated testing to see what kind of gold he was buying.

However, there was one problem. There was a ban on imports of all goods from South Africa until they were burdened with Apartheid, which ended in the early 1990s.

1980 the first date of smaller Krugerrands


In 1980, for the first time golden Krugerrands of less than 1oz were issued. The emission covered the smallest of 857 thousand units and 60 mirrors for collectors, weighing 1/10oz. The 1/4oz Crugerrands were issued in 534 thousand units and 60 mirror units. Coins weighing 1/2oz were minted in 374 thousand pieces and 60 mirror.

This year, we also issued 3143000 and 12 thousand golden Krugerrands with a mass of 1oz in the mirror version of the so-called "Mirrors". PROOF, which was distinguished by the fact that Krugerrand PRROF had 220 teeth on the wound instead of the standard 180 teeth, as well as the background of the face and the reverse with a mirror stamp and main motifs made by the defrost effect.

Comments

Popular posts from this blog