Krugerrands Sandton – History and Reasons to Buy Gold Bullion
If you want to buy Krugerrands, Sandton will be a good start because the ISA Gold offices are located in the Sandton Towers. As reputable and Rand Refinery approved gold bullion traders, we supply a wide range of Krugerrands at affordable prices. However, you don’t have to visit Sandton for Krugerrands. You can use our online facility to locate the coins of choice, select your quantity and request the quote. Once payment has been made and cleared, we will confirm your choice of delivery or collection details.
History of the Krugerrand
Krugerrands didn’t originate in Sandton, Johannesburg. Instead, their history dates back to 1967 when the first Kruger coin was minted by the South African Mint in 1967 in an effort to develop the South African gold market. However, popularity of the coins as gold bullion led to the Krugerrand taking up almost 90 percent of the world gold bullion coin market at the start of the eighties.
Why the Name?
The Kruger coins have been named in memory and honour of President Paul Kruger, who was the President of the so-called Boer Republics at the outbreak of the Second Anglo Boer War. Upon realising that gold reserves of the Boer Republics could fall into the hands of the British enemy, he demanded that the gold reserves be withdrawn from all the banks and then along with several of his ministers and commando leaders transported the gold on a train which went through Waterfall-Boven and Machadodorp.
The train was stationed at Machadodorp for a while and the people of the town reported seeing soldiers carrying closed cases and crates from the train. According to town legend, Paul Kruger gave command to hide the gold near the towns, such as Machadodorp and Ermelo. He fled the country and many believe that some of the gold made its way overseas. The gold is still missing today, although news reports have stated the discovery of some gold coins near Ermelo.
Paul Kruger is depicted on the one side of the coin with the Springbuck on the reverse side. The Springbuck is the South African national antelope. Production of the Krugerrands has increased tremendously over the past five decades, with thousands produced annually. In a period of just ten years, spanning from 1974-1985, the USA imported well over 22 million Krugerrands
Even though many Krugerrands are available, the market value is not affected by such. The coins have collector and investment value, and are considered one of the most affordable vehicles for investing in gold bullion. The Krugerrands, now available from ISA Gold in Sandton, are currently the world’s most popular gold bullion coins. Indeed, over 54 million Krugerrands have been produced in their blank form at Rand Refinery Ltd in Germiston.
Every Kruger coin is standardised with a diameter of 32.77mm and thickness of 2.84mm. All Krugerrands consist of 22 carat gold with a purity level of 91.67%, with the remainder made up from copper to increase the hardness, scratch resistance and durability of the coins. The coins are measured in Troy Ounce. Coert Steynberg designed the Springbok side, while the Paul Kruger side of the coins was designed by Otto Schultz.
We supply the Krugerrands in four sizes, enabling you to invest in gold bullion, even if you only want to invest a small amount at first. The smallest size is 1/10, while the other sizes are 1/4, ½ and 1oz.
The coins are standardised and have exceptional face and market value. As valid payment tender, the coins provide you with an alternative to paper currency, which helps to give a hedge against the effects of inflation. Gold is a scarce commodity and as such, already has investment value. With the Krugerrands being compact and lightweight, you can easily transport and store the coins safely. The coins also have collector’s value and you have something tangible in return for your investment.
How to Buy from ISA Gold
View our products online and select the coins of choice. Select the quantity and press the Quote request option. Add your contact, address and delivery or collection details and submit. You will receive a confirmation email and bank details. Make the deposit or EFT and forward proof of payment. Once the payment clears in our bank account, we will contact you to confirm delivery or collection preferences.
Don’t delay in diversifying your investment portfolio. Buy Krugerrands from ISA Gold in Sandton, as a reputable supplier of gold bullion in South Africa.