The South African Krugerrand was first conceptualized in 1967 as a legal tender bullion coin marked only with its weight in gold. The coin was created as a means for the private ownership of South African gold bullion by the general public. The one-tenth ounce Krugrerrand was first minted at the South African Mint in 1980
COMPOSITION AND DESIGN
The Krugerrand gold coin are designed to be durable and are therefore .9170, or 91.7% gold, with the remainder being copper. This South African coin also appears closer to an orange shade than coins alloyed with silver. Each one-ounce coin weighs 33.93 grams (consisting of 31.1 grams pure gold and 2.83 grams copper). The Krugerrand value is determined by its gold content plus a premium that is dictated by market conditions.
The South African gold coin gets its’ name from a combination of the first Boer president of the South African Republic, Paul Kruger, and the name of the South African currency, the rand.
Originally Posted Here: Buy Gold Krugerrand Coins at Low Premiums