1 Ounce Fine Gold South African Krugerrand (stock Photo)

  

1 OUNCE FINE GOLD SOUTH AFRICAN KRUGERRAND (STOCK PHOTO). Is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery. And the South African Mint. By 1980, the Krugerrand accounted for 90% of the global gold coin market. The name is a compound of Paul Kruger. The former President of the South African Republic. , and rand , the South African unit of currency. During the 1970s and 1980s, some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa, most notably the United States, which was the coin's largest market in 1985. Production levels of Krugerrands have significantly varied since its introduction. From 1967 to 1969, around 40,000 coins were minted each year. In 1970, the number rose to over 200,000 coins. More than one million coins were produced in 1974, and in 1978 a total of six million were produced. The production dropped to 23,277 coins in 1998 and then increased again, although not reaching previous levels. Although gold Krugerrand coins have no face value, they are considered legal tender. By the South African Reserve Bank Act (SARBA) of 1989. In 2017, the Rand Refinery began minting silver versions, which have the same overall design as the gold coin. Kruger was affectionately known as'Oom Paul' (uncle Paul), one of the highest designations anyone can be given in South Africa. The reverse side of the Krugerrand is a Springbok, South Africa's national animal. During the economic sanctions against South Africa in the 1980s, Krugerrand sales dropped, but more than 20 million coins were imported into the U. PLEASE SEE ALL PHOTOS FOR CONDITION OF COINS OR CURRENCY. NATIONAL RARE COINS & ESTATE BUYERS. Closed weekends & some holidays: questions sent during that time. Will be answered on the following Monday or ASAP.

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The item "1 OUNCE FINE GOLD SOUTH AFRICAN KRUGERRAND (STOCK PHOTO)" is in sale since Thursday, April 30, 2020. This item is in the category "Coins & Paper Money\Bullion\Gold\Coins". The seller is "derarecoins" and is located in Hollywood, Florida. This item can be shipped to United States.

• Precious Metal Content per Unit: 1 oz
• Coin: South African Krugerrand
• Certification: Uncertified