Below is a short video on the Rand Refinery, the South African Mint, and Gold Krugerrand Coins, partly provided by these aforementioned organizations and by us here at SD Bullion.
If you have any interest in gold bullion and gold mining history, understanding the South African mining industry's enourmous contribution to physical global gold supplies is key.
Started in 1920, the South African Rand Refinery is the world’s largest fully integrated single-site precious metals refining and smelting complex.
In less than 1 century of time, the Rand Refinery has produced over 50,000 tonnes or 1.6 billion ounces of above ground physical gold.
That is over 1/4th of all the physical gold human beings have ever mined.
After the Rand Refinery smelts precious ore into purer forms, the South African Mint strikes and sells various precious metal coins to the investing public.
Chief among them is the iconic 1 oz Gold Krugerrand coin. Krugerrands are still the most highly recognized and longest running modern-gold bullion coin in the world.
Begun in 1967, over 50 million Gold Krugerrand Coins have been struck and sold to the gold buying public globally.
Unlike most gold bullion coins from national mints, Gold Krugerrands, have no legal tender face value or denomination. Their value remains highly linked to fluctuating world gold spot prices.
A 1 oz Gold Krugerrand coin’s overall weight is actually 1.0909 troy ounces. Minted from gold alloy that is 91.67% pure. The coin contains a guaranteed one troy ounce of gold content.
The remaining 8.33% of the coin's weight is made with copper to make it harder and more durable, to better resist scratches and dents.
This gold-copper alloy gives freshly struck Gold Krugerrand coins a more reddish appearance than slightly silver-alloyed 22k gold coins like the popular American Gold Eagle coin for example.
The obverse surface of the Gold Krugerrand Coin bears an effigy of Paul Kruger, the President of the historical South African Republic.
Kruger is revered in South African history as the face of the Boer resistance against British rule in the Transvaal.
Kruger’s effigy is still struck and based on the original die used in 1892 for the Kruger half-crown coin.
The reverse surface of the Gold Krugerrand coin was designed and engraved by famed South African sculptor Coert Steynberg.
It bears the image of a prancing springbok, the national animal of South Africa.
Gold Krugerrand Coin features include it being:
- The world's 1st modern gold bullion coin
- One of the most widely traded gold bullion coins ever
- Easy to buy and sell worldwide
- Perhaps the most recognized government gold bullion coin brand
- Legal tender 22k gold coin of South Africa
- One of the only modern gold coins without an explicit legal tender face value
- Guaranteed to contain the gold weight and content stamped upon it
You can buy 1 oz Gold Krugerrand coins live 24 hours a day, 7 days a week, with live dynamic real time pricing here at SDBullion.com.
Thank you for visiting our website here at SD Bullion and for your interest in the iconic Gold Krugerrand Coin.