Krugerrand Gold Coins: 10 Fun Information Nuggets
SportsIn my most recent article, titled “Krugerrand Gold Coins – The First Modern Gold Bullion Coins,” I covered the fundamental history and added general information about the Krugerrand gold coin. In this particular follow-up piece, I’ll provide 10 fascinating facts or trivia related to the Krugerrand, which you can use to wow your fellow gold fans!
1. The Krugerrand has a distinctive reddish copper color, unlike other modern gold bullion coins. This is due to its high copper content of 8.33%.
2. Look at the reverse of other modern gold coins like the Canadian Maple Leaf and the American Gold Eagle. Now take a look at the back of the golden Krugerrand. Do you notice something different? The Krugerrand has no currency denomination. The value of the coin is the value of its gold content.
3. The name of the coin, Krugerrand, is actually an amalgam or combination of the words “Kruger”, which is the surname of the fifth president of the Republic of South Africa, Stephanus Jonannes Paulus Kruger, and “Rand”, which is the name of the currency of South Africa.
4. The animal on the reverse of the coin is a jumping gazelle (antelope). The gazelle is the national animal of South Africa.
5. The coin is also minted in a trial edition. If you count the ridges on the edge of the coin, you will find that the bullion version has 180. Now count the test ridges. That version has 220!
6. Bet you didn’t know the word “Krugerrand” is actually a Rand Refinery trademark!
7. Most modern gold bullion coins also have a silver edition. Not so with the Krugerrand. Because? Because
8. Although gold Krugerrands have been minted since 1967, it has only been legal for Americans to own them since 1975. This is due to the gold ownership ban issued by President Roosevelt in 1933 that was in effect up to that time. .
9. The importation of the currency was banned in 1984 by Congress and President Ronald Reaga due to apartheid and the boycott of South Africa. The boycott was lifted in 1994.
10. The word “Krugerrand” is often misspelled as “Kruggerand!”
I hope you enjoyed learning a little trivia about Krugerrand gold coins. In my next article, I will discuss the advantages of buying Krugerrands over other modern gold bullion coins.