If you are thinking about investing in gold perhaps the South African Krugerrand is the way to go? It is a coin that has been proven to hold and build its value throughout times of significant turbulence and change.
Despite this its history is somewhat chequered…
The name Krugerrand is a combination of the South African currency (the rand) and the name of the president of South Africa whose picture features on the coin. It was first created in 1967 with the specific objective of giving ordinary people access to gold ownership and thus by extension the wealth generated by the South African gold mining industry.
Created by the South African Mint and Rand Refinery, the coin still has its roots in these two companies. Rand Refinery sources, refines and manufactures the blank coins which are passed onto the South African Mint for minting before being transferred back to the refinery to be packaged and distributed.
During the days of apartheid, as a means of economic sanction, some Western countries did not allow the coin to be imported. However, when South Africa abandoned this regime in 1991, these restrictions were lifted. Despite this by 1980 the Krugerrand accounted for 90% of the global market for gold coins. To this day it remains the most traded and trusted gold coin in the world.
It is literally worth its weight in gold!
The Krugerrand is actually legal tender and is the only bullion whose face value is denominated in ounces of gold, whereas all other gold coins have a face value below that of the value of gold.
Over the past 50 years over 52 million ounces of Krugerrands have been sold and despite political and financial turmoil in South Africa it has always built and delivered value to its holders. It is recognised by international gold dealers, banks and coin traders and can now be traded and transported with ease across the globe.
Several different sizes make it more accessible to the private buyer
Available four sizes containing exactly 1oz, 1/2oz, 1/4oz or 1/10oz of pure gold, the Krugerrand offers great accessibility. Each coin contains 11/12 24 carat gold and ½ copper, which results in 22 carat gold. The addition of copper makes the coin more durable but at the same time does not dilute the gold content as each Krugerrand contains no less than the stated amount of gold for is size.
For a coin that has socially transformed the lives of many in South Africa, it is likely that its accessibility will continue to promote its enduring value for generations to come.
I am an entrepreneurial retailer and wholesaler with a strong track record of achievement and success in E-Commerce within a B2C environment.
For over 30 years I have successfully founded, created and operated businesses within Men’s High St retail and online optical. I’ve built successful, high-performing teams – both technical and non-technical and always enjoyed developing profitable, long-term relationships with clients.
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Throughout my business career hindsight would have been a wonderful thing. I feel that I’m now able to share my knowledge and experience with others and help them avoid pitfalls and overcome the challenges that I’ve faced over a thirty-year career. In addition I believe my e-commerce knowledge and experience is very much at the cutting edge – enabling me to not only support ‘traditional’ small business – but also add value to those looking to establish themselves in the digital economy.
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I am also a Director of London Gold Bullion.