The Krugerrand shows its mettle, 50 years on
The gold standard in investment bullion coin kicks off Golden Jubilee celebrations at WMF
Fifty years since it was first introduced in 1967, the Krugerrand has built an indisputable legacy as one of the leaders in the global gold bullion investment industry.
The official Golden Jubilee celebration kicked off at the World Money Fair (WMF) 2017 on 3 – 5 February in Berlin, where South Africa was the Guest of Honour. A modern and fresh look at the Krugerrand brand personifying the coin’s staying power, longevity and resilience was revealed at the WMF through a series of events that took place alongside the main coin exhibition.
Since its launch in 1967, more than 53 million ounces of gold (over 60 million pieces) have been sold in the form of Krugerrands, as much as the Canadian Maple Leaf and the US Eagle put together. Last year, more than 1.1 million ounces of gold bullion Krugerrands were sold making it the world’s most traded bullion gold coin. The South African Mint proudly produces the proof quality Krugerrand, a beautifully finished collectable coin that shares the same popularity as the investment (bullion) Krugerrand.
In 1980, fractional bullion Krugerrands were introduced in 1/2, ¼ and 1/10 ounces, as well as the collectible, proof quality range of Krugerrands. The coins have only ever been available in fine gold, in these four fractions since the expansion of the range in 1980.
To mark the major milestone in the coin’s journey, the South African Mint released a series of limited edition, once off collectible coins which include, a 50 ounce gold coin; a 5 Ounce gold coin; a 1/20 ounce gold coin; a 1/50 ounce gold coin; and for the first time, precious metals other than gold in the 1 ounce silver proof coin; 1 ounce silver premium uncirculated coin and a 1 ounce platinum coin.
Tumi Tsehlo, MD, The South African Mint, says, “Celebrating the legacy of a coin that pioneered gold coin investing and also endured half a century of world events, is a great honour. As we look back with pride, paying tribute to the coin’s success in markets beyond South Africa, such as Germany and the US, we must also acknowledge the commitment of our global partners in promoting and putting the Krugerrand in the hands of people the world over.”
“I am confident the new limited edition coins, platinum and silver coins will certainly delight collectors and Krugerand enthusiasts.”
To maintain global relevance and remain true to its origins, the Krugerrand has capitalised on the popularity of its 1 oz Krugerrand. The coin’s initial design has not been altered since the first coin was struck.
“The gold coins are manufactured from 22 carat gold. The alloy material is copper, and was chosen to enhance hardness and therefore durability,” says Richard Collocott, Executive Head of Marketing for Rand Refinery and a Director of Prestige Bullion, the joint venture between Rand Refinery and the South African Mint. Rand Refinery is responsible for worldwide marketing of the bullion Krugerrand.
“The designers at the South African Mint have gone back to the original wax moulds and artworks to ensure that the 2017 Krugerrand is the most authentic and accurate version of the original designs,” adds Collocott.
A book, The Krugerrand Millions, written by Prof Francois Malan was also released to mark the milestone achievement. This gives a definite narrative on how the Krugerrand became the world’s favourite gold bullion coin, and follows a neat chronological order of events while offering insights into the coin’s early life, tumultuous growth years through apartheid and sanctions to the legend it has now become.