South African Mint Releases New Silver Krugerrand Bullion Coin
South African Silver Krugerrand Will Compete With the World’s Silver Bullion Coins.
The South African Mint is set to release a Silver Krugerrand bullion coin. While the South African Mint released a silver Krugerrand in 2017 to commemorate the 50th anniversary of the release of the gold Krugerrand, its mintage was fixed at one million. The 2017 Silver Krugerrand was intended to be a collector’s coin, not a bullion offering and was priced at a suitable premium.
The 2018 South African Silver Krugerrand, while also limited in mintage, is intended to be a silver bullion coin offering and as such will compete with the American Silver Eagle, the Canadian Silver Maple Leaf, the Austrian Silver Philharmonic the Australian Silver Kangaroo and other world mint coins.
The South African Silver Bullion Coins is available now to order for shipment by August 8, 2018.
The South African Mint has officially entered the silver bullion space with the competitively priced Silver Krugerrand. These coins can be ordered individually, in unopened mint tubes of 25 or in monster boxes of 500.
Order yours today:
Get a mint sealed monster box of 500 South African Silver Krugerrands
About the Silver Krugerrand:
The obverse of the Silver Krugerrand, features a portrait of Paul Kruger, President of the South African Republic from 1883 to 1900. The reverse showcases Coert Steynberg’s design of a prancing springbok, a South African antelope and national animal of South Africa. The coin is .999 pure silver and weighs one troy ounce and has a diameter of 38.725mm
History of the Krugerrand.
The South African Gold Krugerrand was first released in 1967 by the South African Mint at a time when South Africa was the world’s largest producer of gold. At the time, gold was still part of the monetary system under the Bretton Woods Agreements of 1944 that required the United States Treasury to redeem foreign central bank dollar holdings for gold upon request. The South African gold supply was thus, an important component of the money supply and its production heavily relied upon by the United States and western European nations for the smooth flow of trade.
From 1933 -1974, the ownership of gold bullion by U.S. citizens was outlawed and the U.S. Mint did not produce gold coins. Even when the gold ownership ban was lifted on Americans, there were no newly minted U.S. gold coins to buy, leaving the Krugerrand as the best-selling gold bullion coin in the United States and the world from 1975 until 1986, when the American Gold Eagle began to provide competition for the Krugerrand.
The term ‘Krugerrand” has become synonymous with the term gold bullion over the past fifty years. With the introduction of the Silver Krugerrand, the South African is placing its marker in a bid to make the term Krugerrand also to mean silver bullion.
About the South African Mint
The South African Mint is a private mint that mints all the coins of the nation of South African. The South African Mint was established by the country’s President Paul Kruger in 1890. In addition to minting the world famous gold and now silver Krugerrands, the South African Mint notes that they also provide minting services for “the rest of the world.”
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.