2010 Krugerrand Series

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2010 Krugerrand Series

South Africa’s Krugerrand coin named after former president Paul Kruger of the South African Republic, during the discovery of gold on the Witwatersrand was first discovered in 1184.

The Krugerrand was launched in 1967 as an investment opportunity for the common man. Since it was meant to be used as a legal tender (unlike bullion coins), the Krugerrand was minted as a gold alloy with one part copper to make it durable. It contained precisely one troy ounce of refined gold. Uniquely, the coin bore no denomination as its face value was linked to the daily price of gold. Three additional sizes were introduced in 1980, weighing quarter, half and one-tenth of an ounce.

The Krugerrand became a popular investment option in America where individuals could not legally own bullion but were allowed to purchase foreign gold coins. During the late 20th century, worldwide trade sanctions against South Africa’s policy of apartheid affected the Krugerrand, minted from the labour of black miners working under oppressive, dangerous conditions. Spurred by the coin’s popularity, many developed nations like Canada, Australia, UK and the USA minted their own gold coins during the apartheid years.

Krugerrand specifications
A one ounce Krugerrand weighs 33.930 g and has a diameter of 32.96 mm. Its metal content, in¬ a ratio of 11:1 is Au916.67 /Cu 83.33. One side of the coin, designed by Otto Shultz, depicts Paul Kruger’s portrait while the other features a national symbol, the springbok, designed by Coert Steynberg.

The Prestige Set - 2010
The Krugerrand Prestige Set is a limited edition of 1000 sets, each comprising four elegantly packaged coins (1 oz, ½ oz, ¼ oz and 1/10 oz). A plaque on the box is inscribed with ‘Krugerrand Prestige Set’, year of issue (2010) and the set’s individual number.

Certificate of Authenticity
Every Krugerrand and coin set comes with an individually numbered Certificate of Authenticity. The certificate contains a product description, specifications, year of issue and limited edition number. The certificates are re-designed annually to deter duplication. The South African Mint’s logo is printed in transparent ink, seen only under ultra-violet light.

Determining a Krugerrand’s worth
Four parameters govern a coin’s value, its scarcity, condition, bullion value (precious metal content) and demand. To determine a coin’s worth:

Have it correctly identified.
To grade it, carefully observe the coin for signs of wear and tear.
Study local and overseas coin catalogues for listed retail prices. The Standard Catalog of World Coins by Krause and Mishler is an extensively read guide.
Read up on prevailing dealer prices in trade magazines, newspapers and auction sites.

The Krugerrand may no longer enjoy a predominant status in the global coin market but its brand equity remains undiminished. Consider yourself fortunate if you have one!

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