In my most recent article, titled “Krugerrand Gold Coins: Early Modern Gold Bullion Coins,” I covered the underlying history and added background information about the Krugerrand gold coin. In this particular follow-up piece, I’ll provide 10 fascinating facts or tidbits related to the Krugerrand that you can use to wow your fellow gold fanatics.
1. The Krugerrand has a distinctive reddish-copper color, unlike other modern gold bullion coins. This is due to its high copper content of 8.33%.
2. Look at the reverse of other modern gold coins, like the Canadian Maple Leaf and the American Gold Eagle. Now take a look at the back of the golden Krugerrand. Do you notice anything different? The Krugerrand has no monetary denomination. The value of the coin is the value of its gold content.
3. The name of the coin, Krugerrand, is actually an amalgamation or combination of the words “Kruger”, which is the last name of the fifth president of the Republic of South Africa, Stephanus Jonannes Paulus Kruger, and “Rand”, which is the name of the South African currency.
4. The animal featured on the reverse of the coin is a jumping gazelle (antelope). The gazelle is the national animal of South Africa.
5. The coin is also minted in a proof edition. If you count the ridges on the edge of the coin, you will find that the bullion version has 180. Now count the proof ridges. That version has 220!
6. Bet you didn’t know that the word “Krugerrand” is actually a trademark of the Rand Refinery!
7. Most modern gold bullion coins also have a silver issue. Not so with the Krugerrand. Why? Why
8. Although gold Krugerrands have been minted since 1967, they have only been legal for Americans to own since 1975. This is due to President Roosevelt’s 1933 ban on owning gold that was in effect up to that time.
9. The importation of the coin was banned in 1984 by Congress and President Ronald Reagan due to apartheid and the boycott of South Africa. The boycott was lifted in 1994.
10. The word “Kruggerrand” is often misspelled as “Kruggerand!”
I hope you enjoyed learning a little trivia about Krugerrand gold coins. In my next article I will discuss the advantages of buying Krugerrands over other modern gold bullion coins!