In 2017, the South African Government celebrates the 50th anniversary of the first-ever gold bullion coin in the world – the Gold Krugerrand. To commemorate 50 years of excellence in producing this stunning gold coin, the South African Mint will release several exceptional world premieres: the first 1 oz. Silver Krugerrand (released on December 5th, 2016), the first 1 oz. Proof Platinum Krugerrand and the first 50 oz., 5 oz., 1/20 oz., and 1/50 oz. Proof Gold Krugerrand.
The Gold Krugerrand
In 1967, the 1 oz. Gold Krugerrand was released to promote South African gold and help it establish itself as an international investment vehicle. Today, the name Gold Krugerrand is a renowned worldwide symbol for investing in gold. However, the year 2017 will give you several new reasons to associate this prestigious name with the most exclusive and astounding coin releases on the bullion market.
The first 1 oz. Silver Krugerrand
Unquestionably, enthusiast numismatists of the series have been waiting for a long time for the Krugerrand silver edition to debut. Over this period, many counterfeit silver Krugerrands have been confusing collectors that this coin exists. Finally, in 2017, the Silver Krugerrand became a reality. Also being, the first Krugerrand that carries an actual face value of 1 Rand. The coin showcases the same obverse and reverses designs of the original gold coin. Otto Schultz and Coert Steynberg were behind the creation of the designs. That is, with the exception of the content inscription and the small privy stamp with the encircled “50” engraving. The South African Mint will issue the first 1 oz. Silver Krugerrand from .999 pure silver, available in two versions. Premium Uncirculated, will be available from December 5th, 2016, (having a higher quality than the common Bullion Uncirculated), with a mintage limit of 500,000 coins. The proof will be available with an issue limit of 15,000 coins.
Also, a few of these coins will be a feature in some mint’s anniversary sets. The first 1 oz. Silver Krugerrand will be a fantastic addition, highly awaited by investors and collectors around the world for 50 years.
The first 1 oz. Proof Platinum Krugerrand
Undeniably, the brand-new Silver Krugerrand is not the only anniversary achievement from the South African Mint. In 2017, the mint will also issue the very first 1 oz. Proof Platinum Krugerrand Coin. The 1,967 proof .9999 fine platinum coins with a 10 Rand face value will represent the mint’s unique commitment to celebrating the year when this famous coin is available from release for the first time – 1967. The coins will feature the same design as the original Krugerrands, except for the content engraving.
The first 50 oz., 5 oz., 1/20 oz., and 1/50 oz. Proof Gold Krugerrands
The South African Ministry of Finance authorized the production of the 50 oz., 5 oz., 1/20 oz., and 1/50 oz. Gold Krugerrands – the biggest and smallest Krugerrands in history. These wonderful coins will be struck from .9167 pure gold, yet will contain their exact engraved amount of pure gold, just like all Gold Krugerrands. The coins will display the same design. They will also have a limited issue of 50,000 coins for 1/50 oz., 20,000 coins for 1/20 oz., 500 coins for 5 oz., and just 50 coins for the 50 oz. size. The last coin size is a huge sensation, having a 4” diameter and over 1.6 kg in weight, being the special 50th-anniversary edition of the Gold Krugerrand. The mint will also issue the standard 1 oz. coin with a special 50th anniversary privy mark.
The South African Mint
The official mint of the Republic of South Africa has over 100 years of experience in producing high-quality circulation and commemorative coins. The South African Mint was found in 1886 which was also the year the South African Mint was found by Paul Kruger in Pretoria. Then, the British Royal Mint took over up until 1941. Starting from 1961, the mint produces the country’s official currency and the most renowned gold bullion coin highly praised by investors all over the world – the Gold Krugerrand.
The History of Gold Krugerrands
The Gold Krugerrands were the first gold bullion coins designed to be a convenient way of owning some of the South African gold. The first Gold Krugerrand coin was struck by the South African Mint on the 3rd of July 1967 from 22K gold, yet contained exactly 1 oz. pure gold – a trademark of the mint’s excellence. Today, the term “Krugerrand” is widely in use by millions of investors around the world. The coin’s name was an inspiration from the renowned South African President, Paul Kruger, and the country’s monetary currency – Rand.
The Design of Gold Krugerrands
The obverse design of the coin was based on the ZAR (Zuid Afrikaansche Republiek) coin, also known as the Kruger Pond, which depicted the profile portrait of President Kruger. Additionally, on the reverse side of the coin, there is an engraving of the stunning image of a prancing Springbok, the iconic African antelope. In 1980, the mint added three new fractional sizes: 1/10 oz., ¼ oz. and ½ oz. Each of these coins contains the exact amount of gold. Therefore, their weight is a little higher due to the additional content of copper. As the first gold bullion coin in the world, the Gold Krugerrand was an instant success on the bullion market. It still continues to be one of the most popular collectibles in the world.