The South African gold Krugerrand has consistently been the most widely traded gold bullion coin since it was first minted in 1967. In fact, back then it was the first coin ever to be minted from one troy ounce of fine gold, and has since been joined by competitors from national mints around the world.
At just over 50 years since the minting of the first Krugerrand coins, the Rand Refinery has decided to release the Krugerrand for the very first time in silver. The coin is minted from one troy ounce of fine silver and is anticipated to be very popular when it’s released in just a few weeks.
The Krugerrand in summary
Since 1967, there have been plenty of other troy ounce fine gold coins minted from places as far flung as Canada, America, Australia and the UK. Popular contemporary versions include the American Gold Eagle, the Canadian Maple Leaf and the British Britannia. Despite gaining moderate popularity, these have never managed to surpass the levels of the original Krugerrand.
It was first minted after the South African government decided they needed to find a way to make the most of the country’s large gold supplies and encourage private gold ownership. South Africa has some of the most productive gold mines of any one country on earth, so it’s little surprise that they led the way with gold coin production.
To come upon the name, they decided to commemorate the country’s fifth president Paul Kruger, combining it with the name of the South African currency; the rand.
Like many South African exports, the Krugerrand suffered setbacks during the 90s and 80s, as much of the developed world refused to trade with the country in protest of their Apartheid policies. Despite this, it still remained the most widely-traded gold coin, and popularity increased even more after the embargoes were lifted.
The new silver Krugerrand
The 2018 silver Krugerrand is the first of its kind. Unlike The Royal Mint, The United States Mint and The Royal Canadian Mint, The Rand Refinery has till now never embarked on a silver version of its flagship gold coin.
The design is identical to the traditional gold Krugerrand. The image of Paul Kruger himself sits on one side, opposite an antelope on the other. Kruger is accompanied by the words ‘Krugerrand’ and ‘fine silver’, the latter being inscribed in both English and Afrikaans, the two main languages of South Africa.
Other than the value and precious metal content, the main difference between the silver and gold variations is that the new coin will feature a denomination of 1 rand, unlike the gold version which features none.
Why buy commemorative silver coins?
Commemorative silver coins like the Krugerrand are valued for a wide range of reasons. The new silver coin in particular will likely rise significantly in value over the coming years, as its status as the very first silver Krugerrand will earn it pride of place in coin collections everywhere.
Though the Rand Refinery could, and likely will, continue minting the coin from 2019 onwards, there is only a limited number of the 2018 version available, which is likely to become more valuable than other variants in years to come. For that reason we’re encouraging precious metal investors and coin collectors alike to get their hands on these coins before time runs out.
Your brand new 2018 silver Krugerrand
The best thing about the new silver Krugerrand is that it’s almost here. The official coin isn’t scheduled for release for a few weeks, but we’re offering buyers the chance to pre-order them on our website already. That means you can secure your version in advance.
The benefit of this is that if you buy the new silver Krugerrand today, you’ll lock in the current price at the time you pre-order, which will stay the same regardless of how the silver price may change between now and delivery. So if you think the price looks pretty good right now – then don’t hesitate to get yours today.