South African Gold Krugerrand 1 oz
For years the South African Gold Krugerrand 1 oz was the bullion coin of choice before other world governments decided to mint their own bullion gold coins. This favorite was first introduced in 1967 as South Africa came into world prominence because of their natural gold deposits.
The obverse features a portrait of their first President Paul Kruger and the coin’s name (Krugerrand) is a combination of this early hero and South Africa’s unit of currency (the rand).
The reverse features the date minted, weight hallmark and a Springbok or antelope native to southern Africa.
In 1967 the South African Gold Krugerrand 1 oz was an overnight success because it moved directly with the price of gold and its 1 oz size made for easy valuation. In 1980 smaller sizes were added (1/2 oz, 1/4 oz and 1/10 oz) and all 4 sizes have the popular reeded edge for added security.
During the struggle against apartheid the popularity of this bullion coin fell but today it has regained its market share and competes with other bullion coins like the US gold Eagle and the Canadian gold Maple Leaf.
The South African Mint produces two types of South African Gold Krugerrand: the first is the pictured low premium bullion coin traded by precious metal dealers. The second is a more expensive proof example minted for collectors.
The advantages of the South African Gold Krugerrand 1 oz coins are many: (1) its value moves directly with the price of gold. (2) The premium above spot is one of the lowest available on the market. (3) The coin contains an ounce of gold and is alloyed with a small amount of copper for durability. (4) Because the South African Gold Krugerrand 1 oz is one of the worlds most popular bullion choices daily buy and sell prices are quoted by major dealers for easy price comparison.
The South African Mint produces three tube sizes (10 coins, 15 coins, and 25 coins) for the South African Gold Krugerrand 1 oz. CNI uses the hard plastic tubes produced by CoinSafe which hold 20 brilliant uncirculated coins. These tubes stack, make counting easier and seal securely.
There is no reporting requirement for this bullion coin when you purchase. If you sell 25 South African Gold Krugerrand 1 oz coins it is reportable on Federal Form 1099B. Your sale of less than 25 coins is not reportable by your dealer.
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