South African Krugerrand become silver for its semicentennary edition
Golden Krugerrand is well-known bullion coin issued by South Africa since 1967. This pure golden coin is the most common investment precious collectible around the world. Krugerrand is the most traded coin in bullion minting period, as it is stated by the US Mint. The South African bullion coin became the model for all the rest investable coins produced since the time Krugerrand appeared.
The upcoming 50th anniversary of Krugerrand is marked by the nontrivial edition of the recognizable item. The iconic gold bullion coin, known as the first one of a modern kind, will be launched in 1-ounce silver piece in 2017. The design of the .999 silver incarnation of the famous Krugerrand stays the same. It shows the profile likeness of Paulus Kruger on one side and the familiar springbok on the opposite one. The only new detail is the half-centenary logo minted next to the antelope.
Although, the Mint officials emphasize the innovations used in the methods of producing while making the jubilee silver Krugerrands. The relief details of new edition of bullion 1-rand coin are said to have the “razor-sharp” elements which only possible to be done using modern tools.
The anniversary issue of Krugerrand will be fully presented on the upcoming World Money Fair in Berlin. But it is already known that maximum mintage of the silver edition will be 1 million pieces. The collectibles are likely to be available in proof, premium uncirculated and standard bullion versions, weighting
31.107 grams each.
A leap back into the history of bullion coinage…
The very first 1967 Krugerrands were struck by the South African Republic in .917 fine gold in total mintage of little more than 50 thousand pieces. Each piece contained the full 1 ounce of pure precious metal. It bears the effigy of the country’s statesman of those times, by whom the golden 1-rand coin got its name “Krugerrand”.
As very few years had gone by, the mintage of Krugerrands was increased to more than 3 million pieces. The gold bullion coins of South Africa became very popular in USA since 1974 because the 40-year ban on the ownership of gold was lifted in the country that year. The record sales of Krugerrands around the world lasted till the beginning of the 1980’s. Many people bought SA golden coins as investments during that period, so bullion precious coins as a new way to save money was established. Other countries’ Mints began to issue their own bullion investment coins, such as gold Canadian Maple Leaf, American Eagle, Australian Nugget and British Britannia.
They grabbed the world’s market of bullion coins when international trading of Krugerrands was banned by almost all governments. The reason was to force the South African authorities to quit the racist policy of apartheid. The restrictions were placed on import of Krugerrand around 1985, which was the end of its reigning on the worldwide gold bullion market. Been occupying the two-thirds of world’s bullion trade in 1984, the Krugerrand totally lost its positions before 1986, when American Eagle became the leading investment coin of the world.
The next appearing of the gold Krugerrand’s sales in USA occurred in 1999, but the demand for gold investment coins had declined long ago due to lack of inflation. Nowadays, the new hero of precious metal investments is silver. Numerous countries issue their standard silver bullion coins for the investors and collectors. The silver anniversary Krugerrand is among them now.