South African Mint

South African Mint

Gold mining has played a key role in the history of South Africa. In 1970, the country held an estimated 75% of all global reserves of the precious metal. While that number has declined over the years, gold is still an important part of South Africa's economy, producing nearly $4 billion in revenue

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Gold mining has played a key role in the history of South Africa. In 1970, the country held an estimated 75% of all global reserves of the precious metal. While that number has declined over the years, gold is still an important part of South Africa's economy, producing nearly $4 billion in revenue each year. Given this prominence, it’s not surprising to learn the country is a major producer of gold bullion coins, too. Mint State Gold has a continually changing inventory of South African gold coins for sale. If there’s something you’re looking to buy for either investment or collecting purposes, there’s a good chance you’ll find it in our online store. If not, we would be happy to source it for you — call our office for more information.

About Gold Krugerrand Coins

South Africa’s official gold bullion coin is known as the Krugerrand. Krugerrands were first minted in 1967, making them the earliest modern gold bullion. The Chamber of Mines of South Africa, working under the authority of the South African Reserve Bank, oversaw their initial development. The country’s gold mining industry was also an advocate for the coin, viewing it as a vehicle for promoting South African gold on the international investment market.

Krugerrands were initially extremely popular, in part because they were one of the few gold bullion products private U.S. investors were permitted to buy. Their success laid the groundwork for other gold currency, such as the Canadian Maple Leaf and, in 1986, the American Gold Eagle — the first gold bullion coin minted by the country since 1933.

Krugerrands remain one of the most widely held and circulated gold coins in the world. All told, over the years, they have accounted for the sale of more than 48 million ounces of gold. However, their popularity and availability suffered during the 1980s when economic sanctions against the country’s apartheid policies made them illegal to purchase in the United States, as well as several other countries.

Design and Circulation

Krugerrands are named for their design, which features an image in profile of Paul Kruger, South Africa’s president from 1883 to 1900 and a major figure in the history of the country’s mining industry. The reverse of the coin features a springbok, the national symbol of South Africa, along with its date of issue and weight.

The original Krugerrands were made from one ounce of 22 karat gold. In 1980, South Africa introduced three fractional versions, each containing a 1/2 ounce, 1/4 ounce, and 1/10 ounce of gold, respectively. Although Krugerrands are legal tender, they do not have their denominations printed on them, a fact that makes them unique among gold bullion coins.

Buying South African Mint Coins Online

Mint State Gold is one of the best places to purchase investment-grade gold South African coins online. We are a respected supplier of gold bullion and numismatic products, and offer an unbeatable combination of integrity, selection, and expertise. Browse our inventory of South African Krugerrands for sale using the links on this page, or contact our office directly for assistance from one of our knowledgeable representatives.

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