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The South African Gold Krugerrand, whose name is derived from “Kruger”, a very popular South African president (1883-1900) and “rand”, which is the currency in South Africa, is one of the first bullion coins made for investment purposes.
The Gold Krugerrand was marketed so successfully that it dominated the investment market in the 80s with a 89% share. Since then other countries have attempted to produce their own coins commercially enough to tempt investors. The 22K coins were first minted in 1967. The Gold Krugerrand was commercialised so well that in the 80s, they were 89% of all the gold bullion coin market. This coin is 917.0 pure gold. Each full Krugerrand contains a full troy ounce of gold and as they are produced from an alloy weighs slightly more.
The very well known Gold Krugerrand, is unique in the sense that it doesn’t have a face value, as do the majority of international gold bullion coins.
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