First introduced in 1967, the South African Krugerrand is one of the world’s first sovereign-minted gold bullion coins. It is a staple in many precious metals investment portfolios and IRA accounts. The long-term success of the Krugerrand has built its reputation as an internationally trusted hard asset.
Unlike most sovereign bullion coins, the Krugerrand does not have a face value. Instead, its value is solely based on its weight and the current spot price of gold.
South African Krugerrand Design
The Krugerrand is named after Paul Kruger, the fifth and final president of the South African Republic. A portrait of Kruger is featured on the coin’s obverse, along with the English and Afrikaans translation of “South Africa.”
The reverse of the Krugerrand features a springbok antelope, which is the national symbol of South Africa. The year of issue is also displayed on this side.
Why Are Krugerrands Valuable?
Made with .9167 fine gold (22k), the Krugerrand is a universally recognized gold coin. People invest in them to diversify their portfolios and hedge against inflation. This is especially true during times of weak economic performance.
Some investors prefer to store their gold in a precious metals IRA account. This allows you the safety of storing metals in a depository vault. Krugerrands are eligible for most of these types of accounts.
Take a step towards securing your financial future and add South African Krugerrands to your precious metals holdings. Provident offers secure online checkout and fast, free shipping.