What’s the history and significance of the Kruggerrand?
Originally minted in 1967, the Krugerrand is the gold bullion coin which has pioneered enduring value for discerning investors, and was the world’s first (troy) ounce denominated gold coin. With over 60 million Krugerrands in circulation, the brand is held in high esteem for its consistent quality and durability and is the world’s most traded and trusted bullion coin. As legal tender, the Krugerrand is figuratively worth its weight in gold and delivers tangible and lasting peace-of-mind though its global liquidity and proven tradability.
Do Kruggerrands have a Face Value?
The gold bullion Krugerrands don’t a face value. Instead the value of the coin is based on the fine gold content. The silver bullion Krugerrand has a face value of R1.
How are Kruggerrands priced?
The price of the gold bullion Krugerrand is based on the gold content of the coin, plus a premium to cover manufacturing and distribution costs. Sales of the gold bullion Krugerrands in South Africa are not subject to VAT whereas the silver Krugerrands are subject to VAT.
Can Kruggerrands be exported?
South African residents may not export any Krugerrands without the approval of the South African Reserve Bank. Foreign residents visiting South Africa may take up to 15 Krugerrands with them from South Africa, provided they can prove that they were purchased using foreign currency brought into the country.
Sourced partly from official Kruggerrand
