The Krugerrand gold coins were first minted in South Africa in 1967. The krugerrand was to be used as part of the currency and for a way for people to take ownership of gold. For that reason it was minted in a durable gold alloy which is why it is a slightly darker shade of yellow compared to the other gold bullion coins.
The value of krugerrand gold coins is taken from the current market price, unlike other gold bullion coins which can have a face value. The krugerrand gold bullion coin was the first ever coin to derive its value like this. It was also the first ever bullion coin to contain exactly one ounce of gold.
Not many people know that in the 1970’s and 1980’s it was illegal to import the krugerrand in many Western countries but the sanction was changed in 1994. In 1980, 90% of the gold coins in circulation were krugerrand’s. It was this statistic that made other countries begin to mint there own coins. Canadian Maple Leaf, Australian Nugget, Britannia Coin, American Gold Eagle.
On one side of the coin is the statesman Paul Kruger, four-term president of the old South African Republic. The other side of the coin is a picture of a springbok, one of the national symbols of South Africa.
The exciting point about the precious metals sector today is that a complete novice can now invest and make better returns than most professionals. In fact there is no better investment than gold and silver.
There has recently been and continues to be huge amounts of money being ‘printed’ by the various governments around the world, which is fantastic for gold investors. Only last week of writing this article it was released that the UK have just created another £25.5 Billion to bailout the Royal Bank of Scotland. That is a grand total (so far) of £45.5 Billion making it the largest bank bailout in history.
I think new investors should not just take any one persons advice when investing, whether it be in real estate. Look at what other countries are doing and there is only one real opportunity today.
