Krugerrand

In 1967, the Republic of South Africa developed the Krugerrand as a means of marketing South African gold. It was "the very first mass-produced 1 oz gold coin."^[1] I thought they were pretty and always wanted one, but that desire remained out-of-reach because money was always needed for other things.

True versions of the Krugerrand were always gold until recently, although counterfeit (fake copies) have existed for quite a while. For the 50th Anniversary of the Krugerrand in 2017, the Republic of South Africa released "Premium Uncirculated" versions in gold, platinum, and silver.^[2]

Although South Africa released a higher-premium 2017 Silver “K-Rand” for collectors, the 2018 issue is the first coin available at a low bullion premium. As such, it offers investors a new option in the sovereign-minted silver coin marketplace.^[1]

I finally found a rather affordable compromise recently on eBay, a version of the Krugerrand struck from .999 Fine Silver instead of gold. I paid USD $19 for this one, which is a little over the current $15/TroyOunce price of raw silver, but figured the extra $4 was worth the convenience of having a lovely, artistic round. My thinking parallels that of the world of art — if an artist has invested $10 in materials, is their work really only worth $10...? No! It is worth much more for the skill and time which they have invested into it!

The obverse (front) depicts Paul Kruger, former South African president and the namesake of the coin. The "rand" portion of the name refers to the unit of currency of South Africa.

The reverse (back) is graced by a sprinkbok, a species of antelope that is common in the southern reaches of the African continent, and is a longtime symbol for South Africa.^[2]

^{• PHOTO BY ME •}