Why You Should Use The Us Gold Bureau To Learn About The Krugerrand

By Author: Amanda Deems
Total Articles: 8
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Most people have heard of the Krugerrand and most know that it comes from South African. However, the US Gold Bureau can give you a lot more information than that. It can tell you about its history and about how important the Krugerrand actually is in the global economy. If you are a coin collector or investor, you can use the information that is provided on the United States Gold Bureau to learn all there is to know about this fascinating coin.

The very first time the Krugerrand was minted was in 1967. It was developed so that people all over the world were able to own gold. As you can see on the U.S. Gold Bureau, it has long been illegal for people to own bars of gold or gold bullion. However, because South Africa produced so much gold, they try to find a way to spread this gold across the world. The coin had to be durable enough to last, however, so it was minted as an alloy. The alloy comprised of 91.7% pure gold, the other 8.3% being copper. However, although it is an alloy coin, there is still a full troy ounce of pure gold in each of them. Historically, the very first Krugerrand was minted on June 3rd, 1967. During ...
... that same year, some 40,000 Krugerrands were minted. Also, thinking about collectors, 10,000 special Krugerrands were minted.

The history of this coin is truly remarkable. The US Gold Bureau will tell you that it actually all started in the 1884-86 gold rush. During this time, Witwatersrand was found to hold some of the richest gold deposits in the world. This truly brought the world's eyes on South Africa. However, it also led to tremendous wars, as everybody tried to stake a gold claim.

During those days, Paul Kruger was the South African president. However, the Second Boer War took place, leaving the British Empire to control the entire country. The United States Gold Bureau can explain that in honor of the president - Paul Kruger - and in remembrance of the riches of gold - Witwatersrand - the coin should be called Krugerrand. By 1917, the law against owning gold bullion and gold bars was passed in the United States, but they did not disallow ownership of foreign coins, making a huge market for the Krugerrand.

The Krugerrand quickly became a legal tender, so that anybody in the world could purchase it. However, as you can find out through the U.S. Gold Bureau, South Africa held the Apartheid regime, making other countries boycott any South African products - including gold. Hence, many people who owned Krugerrands were forced to store their coins in alternative locations until the Apartheid regime was finally overthrown in the 1990s. When this happened, there were no more sanctions on South Africa, meaning that individuals were not only able to purchase Krugerrands as much as they wanted, but also allowing them to store the coins on American soil. The Krugerrand remains the most popular gold coin in terms of investment.

Patricia always wanted to own gold. Through the US Gold Bureau, she was able to find out information about the Krugerrand to build up her collection.