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The exceptional South African Silver Krugerrand made its official debut in 2018. The inaugural one ounce silver coin was struck by the renowned South African Mint and offered, for the very first time, as a Brilliant Uncirculated bullion coin.
The Krugerrand has long been synonymous with prosperity and a standard of excellence. Struck in 1967, the gold Krugerrand was the first gold bullion coin produced in the world and the only coin produced by the South African Mint for fifty years. The name Krugerrand was derived from combining the last name of the South African Republic’s first Boer president, Paul Kruger, and the word rand, the unit of currency in South Africa. The gold Krugerrand introduced the South African Mint to the world. It also enabled U.S. citizens to purchase gold bullion in the 1970s and 1980s, a time when it was legal to own international coins but not gold bullion.
The 1 oz South African Silver Krugerrand was released in honor of the 50th anniversary of its predecessor, the gold Krugerrand. The design of the South African Silver Krugerrand is a replica of the original gold Krugerrand. The obverse of this 99.9% fine silver coin bears the same profile view of President Paul Kruger. Along the top of the coin are the words “Suid Afrika” and “South Africa” creating a respectful arch in Afrikaans and English, two of the eleven official languages of South Africa. Stamping the Krugerrand in English when the gold coin was first struck could have been strategic to attract American buyers. The original Krugerrand was made legal tender and stamped with a weight value for easy trading, making Americans aware this gold bullion coin could be legally purchased.
The reverse displays a springbok in motion—a common breed of antelope in South Africa— bounding across the dry terrain. The word “KRUGERRAND” boldly arcs across the top in capital letters while the coin’s year of mintage, “2020”, rests on either side of the springbok. The coin’s weight and rating adorn the bottom of the coin with the words “FYNSILWER 1 OZ FINE SILVER R1” in all capital letters.
The South African 1 oz Silver Krugerrand may be purchased in multiples of 25, enclosed in protective tubes. Multiples of 500 may also be purchased in monster boxes which include protective packaging.
The 1 oz South African Silver Krugerrand is IRA eligible.