Krugerrands

Written by Kathleen Gagne
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In 1967, the South African Chamber of Mines decided to issue an interesting type of gold coin. They minted the first Krugerrands that same year. These coins were developed to improve the market for South African gold by issuing coins made of one ounce of bullion and to sell them at a cost that was only slightly higher than the value of the gold.

In South Africa, the coins are legal tender. This is great news for investors, because it means that the coins can be imported into just about any other nation without taxes or import duties. Like other coins, South African Krugers are worth their weight in gold and are never worth less than the face value of the coin.

Krugerrands Online

If you're interested in investing in these South African coins, you can find them at several sites on the Internet. Several of the sites even offer tutorials about the coins which will help you to make your decisions as to which coins you want to invest in. If you are still unsure of what to buy, you can contact a local or online investment service for more advice.

Krugers now come in smaller sizes than the one ounce first minted. Today you can find half Krugers, quarter Krugers, and tenth Krugers as well. All of the coins in the Kruger family continue to be available at a low premium over face value. The South Africans charge a base of 3% over face value but most investors pay slightly more, between 4% and 5%, due to handling costs. When you're searching for Krugers on the Internet, compare rates at several sites before you buy.


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