Krugerrand – Everything you need to know
Do you enjoy collecting coins? If so, there is a good chance that you’ve heard of the Krugerrand. This is a type of South African coin, which was first minted in 1967. At the time, the gold coin was introduced to the public to help market South African gold. The Krugerrand actually accounted for ninety percent of the global gold coin market by 1980. The name stands for the former South African president, Paul Kruger. And of course, Rand is a type of South African currency. If you want to collect Krugerrands, you’ll want to read the guide below.
Different Types Of Kruger Rands
In the 1970s, the Krugerrand quickly became a hit all around the world. In fact, it was once the number one choice for investors who were interested in buying gold. This led to an explosion of production. It caused many other countries to produce their very own gold coins. Nevertheless, the 1967 coin was the first and it remains the most valuable at this point in time. In 2017, the Krugerrand marked its 50th anniversary. To celebrate the occasion, the South African Mint announced that it would produce several premium versions of the coin in gold, platinum and silver.
There are many different types. There is the 1892 Double Shaft Kruger Pond. This coin is worth at least four hundred bucks. There is also an 1892 Single Shaft coin. It tends to be worth more than the Double Shaft alternative.
Krugerrand Coin Values
So, how much is a Krugerrand coin really worth? The truth of the matter is that the value depends on numerous factors. The age of the coin will impact the price significantly. At the same time, the dealer that you work with will prove to be important. Some dealers will be willing to pay more than others. It is possible for Kruger coins to be valued anywhere from a few hundred bucks to a couple thousand dollars. Make sure that you carefully evaluate your specific coin. It could be worth far more than could ever imagine.
Where To Buy Kruger Rands
Whether you are a coin collector or you are looking to invest your money, there is no better product to go with than the Krugerrand. This precious metal is extremely valuable and the price only continues to rise. It doesn’t matter if you are investing or just collecting, because there are a variety of different places where you can buy these coins. There is a variety of online dealers and trading websites where you can invest in this precious metal. Just remember that if you are investing for the first time you probably want to start off with a small order just to see how the process works. Also, be cautious of potential scammers.
Where To Sell Kruger Rands
If you have Krugerrands and are looking to get rid of them, you will be happy to learn that there are many different places where you can unload them. Just look for any place that sells and buys precious metals. These places exist just about everywhere including the Internet. In fact, you might find some brick and mortar stores in your general area. In the worst-case scenario, the dealer might ask to see your identifying documents, but since you are probably selling an amount less than R100 000, most dealers won’t ask any questions.