Krugerrand

The Krugerrand is the most commonly known bullion coin in the world, so much so that even in Israel, there are some to be found. Production of this coin started under the apartheid regime in South Africa in 1967, and even though it has no face value, it is considered legal currency there until the present.

The coin obverse bears the profile of Paul Kruger (1825-1904), the fifth and last president of the first South African republic, alongside "Suid-Africa - South Africa". The reverse depicts an African springbok antelope.

The Krugerrand is produced by the national mint of South Africa. It was originally issued as a one Troy ounce gold coin with a 32.6mm diameter, 2.75mm thickness and total weight of 33.93 grams. Since 1980, half ounce, quarter ounce and tenth ounce versions have also been struck.

Only 91.6% of the coin is fine gold, meaning that the gold fineness is, in actual fact, 22k. Since the purity of gold is measured in parts of 24 karat, it means that the Krugerrand is 22/24 gold with 2/24 of a copper alloy, giving the coin a reddish tone and better hardness, in comparison to other coins. It's important to emphasize that the weight of the fine gold in the coin is one Troy ounce – the copper alloy is additional to the weight.

The Krugerrand is the most commonly traded gold bullion coin in the world, because of its relatively low premium over spot (about 5%). In Israel, the coin is rare but it can indeed be found if well sought.

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