South Africa Krugerrand

The South African Mint has a rich history of capitalizing on the wealth of gold in South Africa with the production of a coin referred to simply as the Krugerrand. Now referred to in investing circles as the South African Gold Krugerrand, this coin was the first-ever bullion product to popularize gold coins as a form of personal investment for individuals around the world. Introduced in 1967, the coin series is now celebrating its 50th anniversary with another first: a 2017 South African Silver Krugerrand.

South Africa has long been a hotbed of precious metal and gemstone mining. The country is home to some of the largest gold reserves found in the world, and it is no surprise that the nation was the first to issue a commemorative gold bullion coin as a national marketing tool. The South African Gold Krugerrand was introduced in 1967 as the official bullion coin of South Africa, and became the first commemorative gold bullion coin on the market as a vehicle for private gold ownership. The coin was uncontested in the market for more than 12 years, with the Canadian Gold Maple Leaf offering the first challenge. Nearly 22 million South African Gold Krugerrands were sold and shipped to buyers in the United States alone between 1967 and 1979 when Western nations enacted an embargo on South African goods in retaliation for its apartheid policies. Today it remains a popular product, and is available in bullion and proof, with fractional weights of ½ Oz, ¼ Oz, and 1/10 Oz now struck as well.

In 2017, the South African Mint celebrated the 50th anniversary of the gold Krugerrand by minting a silver Krugerrand. The new Silver Krugerrand marks the first-ever silver coin in the long-running Krugerrand collection. The initial Silver Krugerrand production was targeted by the South African Mint for one million units. The Silver Krugerrands have the same designs on both the obverse and reverse sides as the Gold Krugerrand. The 2017 coins were available in a proof version as well, with a limited mintage of only 15,000. The proof coins have a small privy stamp on the reverse above the Springbok antelope, with the number “50” stamped inside the privy circle.

While many new-issue silver and gold coins feature a Brilliant Uncirculated finish, the South African Mint considers these coins Premium Uncirculated coins. This unique condition is attributed to both the quality of the silver used in the production of each Silver Krugerrand, as well as the state-of-the-art laser etching technology used to bring an incredible new level of detail to life on the Krugerrand design. Originally this coin was not intended to be an annual-release option that would continue for years to come. It had the unique Premium Uncirculated condition in the eyes of the South African Mint and featured a limited mintage figure for the year. Additionally, it was released as part of the 50th anniversary celebration of the Gold Krugerrand. However, due to the popularity of the commemorative 2017 issue, the South African Mint responded by adding the silver Krugerrand as a permanent staple of its annual issues. For the first time in history, the South African Mint would issue the Krugerrand coin design each year in a metal other than gold. The silver Krugerrand Coin contains 1 Troy Oz of .999 pure silver in BU condition. Unlike its gold counterpart, the Silver Krugerrand has a face value assigned to the coin and marked on its reverse side as 1 Rand (R1). As such, the coins are legal tender in South Africa.

Silver Bullion Mintage

Design

Obverse: The obverse of the Silver Krugerrand features the left-profile portrait of Paul Kruger. The country is inscribed in both Afrikaner and English. The text "SUUD-AFRIKA•SOUTH AFRICA" circumscribes the profile.

Reverse: On the reverse of all South African Silver Krugerrand coins is the image of a Springbok antelope. Above the Krugerrand is the coins name "KRUGERRAND". The date is split on either side of the antelope with two digits to the left and two to the right. The weight, content, and denomination are inscribed below the antelope with the text "FYNSILWER 1 OZ FINE SILVER R1".