Gold Krugerrand

It is an undeniable fact that gold has been an internationally known measure of wealth since the birth of commerce. Gold has been used as an exchange for commodities; it was in the form of gold bars then. But as the civilisation grew, the invention of currency came, first coins and then bills. Gold Krugerrand is a South African gold coin which was first introduced in 1967. The term Krugerrand is derived from “Kruger” the name of the man illustrated on the coin and “Rand” the South African unit of currency. The gold Krugerrand was made to help market South African gold. Gold Krugerrand is the pioneer of gold bullion coins. It became popular and successful to gold buyers by 1980 gaining 90% of the gold coin market. Due to its fame and success many nations followed its lead, thus the birth of Canadian Gold Maple Leaf (1979), Australian Nugget (1981), American Gold Eagle (1986) just to name a few.

Most Krugerrand coins were produced as a limited edition or collector’s item coins. Gold buyers say that Krugerrand is an excellent way to invest in gold. With the growing recession and the decreasing value of dollar, the monetary preference of the world is also changing; good thing gold is a precious gem that has never lost its value through the years. Luckily, South Africa is the largest global producer of gold, which made it a lot easier for Krugerrand to conquer the world of gold coin market. Krugerrand paved way for people to buy and sell without the inconvenience of the heavy and old-fashioned gold bars.