As the Krugerrand is a trusted bullion brand without equal, silver Krugerrand has a very bright future. Trust in the precious metals market is exceeding difficult to earn for any refinery or mint (private or government-owned). Trust is developed through decades of consistency in quality and market supply. This is why the Krugerrand brand is trusted and recognized the world over, and I am certain that the silver version will change the bullion-investment landscape in South Africa. In fact, it already has. I predict that within the next few years, silver Krugerrand will surpass 10 million coins minted yearly. In 2016, Perth Mint released the Silver Kangaroo 1 oz. coin to compete in the legal tender bullion space against coins such as the American Eagle and the Canadian Maple. In the first year of issue, the Perth Mint produced and sold just over 11 million Silver Kangaroo coins.
The reputation of the Krugerrand, I believe, will help the silver Krugerrand surpass this figure, notwithstanding various market factors differing from those in 2016. The bullion Silver Krugerrand is a historic release and will become one of the most desirable and trusted silver legal tender bullion coins in circulation. Well done to the South African Mint and the Rand Refinery for finally deciding to bring this product to the South African and international bullion market; 2018 was indeed a memorable year.
Article courtesy of Going for Gold: A guide for the South African precious metal investor by Zoltan Erdey
