With the discovery of main gold reef in
Johannesburg (South Africa), currently widely known as IGOLI (city of Gold), in 1886,
the country was impacted into a political, economic and mineral
revolution. Treasure seekers from all over the world, streamed into this
mineral rich country changing the lives and history of its inhabitants
forever.
In 1967 the South African Government was looking to name a new
range of gold coins which was linked to daily gold (bullion) price ; it
was decided to associate South Africa's first gold coinage with this
new, exciting and as yet untried, gold coin series. The coins were named
“Krugerrands” - with the South African Rand being the equivalent of a
pound.
An aggressive and extensive marketing campaign was directed into the world's market place
and the new concept of gold becoming available to the man on the street,
was eagerly copied by other countries' Mints. The “Krugerrand” now ranks
with the top international branding names in the world and is known in
almost every country as a base of wealth and prosperity.
A perfect investment product which under the South African legislation
has a legal tender status which allows it to be exported to foreign
countries without import taxes, duty or VAT. The only legal tender coin,
which may, in a long term, provide investment growth and vulnerability
cushion during uncertain economic climate.
![[Daily Gold Spot Price Tracking]](http://kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[South African Rand to Dollar Exchange]](http://www.weblinks247.com/exrate/exr24_za_en_2.gif)
| Krugerrand Coin Specifications: | |||||
| Description | Diameter mm | Mass Gram | Metal | Obverse | Reverse |
| 1oz | 32,69 | 33,931 | Au 916.67Cu 83.33 | O Schultz | CL Steynberg |
| ½ oz | 27,00 | 16,966 | Au 916.67Cu 83.33 | O Schultz | CL Steynberg |
| ¼ oz | 22,00 | 8,483 | Au 916.67Cu 83.33 | O Schultz | CL Steynberg |
| 1/10th oz | 16,50 | 16,50 | Au 916.67Cu 83.33 | O Schultz | CL Steynberg |