Krugerrand Gold Coins

Who says only powerful countries like Switzerland, Austria, Australia, United States, and China have magnificent gold coins to be proud of? Who says smaller countries and not-so-rich continents like Africa can’t produce their own gold bullion coins? If that’s what you thought – then the Krugerrand Gold Coins are here to change the way you think and look at gold coins!

Krugerrand gold coins were first introduced back in 1967 – to serve as a vehicle for private ownership of gold. You see, during the time it was produced, it was illegal for United States citizens to own bullions of gold. Ironically, it was legal for them to own foreign gold coins. Since the Krugerrand gold coins were issued legal tender status in South Africa, it means that Americans could legally own them.

Aside from that, it was intended to circulate as a currency. With that in mind, these gold coins were minted as a more durable gold alloy…which is rare for other gold bullion coins.

The Krugerrand gold coins have other distinct characteristics that you won’t find in other gold bullion coins. First, it has no face value. Its legal tender value is the bullion value of its metal…which is the current price of gold in the market. Along with that, this is the first ever gold coin to contain precisely one ounce of fine gold!

When it was introduced, the Krugerrand gold coins were sold at a price that’s 5 percent higher than its bullion value. It quickly became a hit! Matter of fact, these gold coins accounted for 90% of the gold coin market. It’s success was followed other gold producing nations to create their own bullion coins like the Canadian Maple Leaf, Britannia Coin, American Gold Eagle, and that’s just to name a few!

Just last year, 2008, Krugerrand gold coins that contain a total of 46 million ounces of gold have been sold throughout the globe.