First introduced in 1967, the South African Krugerrand became one of the world's first sovereign-minted gold bullion coins. The long-term success of the Gold Krugerrand led to the introduction of the Silver Krugerrand in 2018. The very first Silver Krugerrand was released in 2017 as a commemorative edition, but it wasn't until 2018 that the coin became a staple of the South African Mint.
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 silver.
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.
Made with .999 fine silver, the Silver Krugerrand entered the market on a level playing field with many of the world's other silver bullion coins. People invest in sovereign silver coins to diversify their portfolios and hedge against inflation. This is especially true during times of weak economic performance.
Some investors prefer to store their silver 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.