Gold Coins (Krugerrands and more)
Invest in South African Premium Gold Coins
Gold, in any one of its guises or forms, is extremely precious and has been for many, many centuries, but particularly if in coin form, since coinage is easily transported, is broken down into a smaller quantity for purposes of exchange and possibly has an additional collectors’ or historical value in instances where the money is old.
The proudly South African Krugerrand has firmly established itself as the world’s most widely owned and vigorously traded gold coin since it was first struck back in 1967 on 3 July, more than 47 years ago.
Originally, these magnificent yellow disks were minted in one troy ounce of fine gold only; smaller denominations were to follow in September 1980, when half, quarter and tenth ounce sizes were introduced, enabling smaller investors to participate and own gold. The ounce measure indicates the 22ct gold content of each coin and the Krugerrand was the very first ounce denominated bullion coin in the world.
South Africa changed from an imperial currency, pounds sterling, shillings and pence – taken from the British monetary system – to a decimal currency on 14 February 1961, and so the Rand was born. It got its name from the Witwatersrand, the rich gold bearing reef in what was to become Johannesburg, sometime after gold was discovered in July 1886, although the first recorded discovery was in 1884, a little further to the west.
The other part of the Krugerrand’s name derives from President Paul Kruger, an integral historical figure in the often troubled past of South Africa, a Boer leader and a keen early nature conservationist, who sought to keep the gold deposits in the hands of his own people and away from Britain and British foreign influence.
Foreigners streamed to the Witwatersrand to seek fame and fortune, only to find their voting rights curtailed by the Kruger government. Britain still sought to unite all the Boer Republics under the Imperial flag and additionally feared that the gold rich Transvaal Republic would topple its influence over South Africa.
Moreover, the British wanted and needed gold to fund and maintain their position as the world’s leading Imperial power, especially now that South Africa had risen to become the world’s largest gold producer. Conflict, for a combination of economic and political reasons, became inevitable.
Railway, Rhodes and Jameson
Kruger was building a railway line to Delagoa Bay, a port in what is today Mozambique, and Cecil John Rhodes, Britain’s great imperialist, wanted to prevent the Transvaal Republic from having access to a port, from which the Boers could export bullion and import goods and arms.
President Kruger increased rail rates to the British in Transvaal territory, whereupon they used wagons once they reached its borders. Kruger retaliated by closing the drifts into the Transvaal, an action which Rhodes used as a reason to invade, having appointed Dr Leander Starr Jameson in late 1895 to lead the incursion, which subsequently failed completely.
More political wrangling followed, which eventually led to the declaration of war, in what became known as the Second Anglo-Boer War, which raged from October 1899 until the signing of the Treaty of Vereeniging at Melrose House in Pretoria on 31 May 1902, ending a period of immense devastation in South Africa and its turbulent history.
Krugerrand Gold Coins Today
It is said that there are more of South Africa’s gold coins in circulation today throughout the world than those of other countries combined, no small feat for our country. All denominations of our Krugerrands feature the country’s national animal, the springbok, on the reverse side, with an image of President Paul Kruger appearing on the obverse, a fitting post-mortem tribute to a man who had such an impact on the country’s history.
These bullion coins feature their name, the year in which they were minted and their size/gold content, in ounces, but not a face value, since the gold price constantly fluctuates and influences the prevailing value of their gold content.
Rand Refinery produces the gold blanks, which it supplies to the South African Mint, where the gold coins are struck. In 1998, Rand Refinery was appointed as a distribution agent, and our company has a close association with them.
Where to Buy
If world-class, professional service, integrity and confidentiality are important to you when transacting for gold coins and more, make an appointment to discuss your requirements with us personally, at our offices in the Office Towers of Sandton City; we look forward to meeting you.