Bellevue Rare Coins proudly offers the 1 oz South African Silver Krugerrand, a sterling example of South Africa's rich heritage encapsulated in silver. The South African Krugerrand coin is one of the world’s most prestigious and actively traded gold bullion coins, famous for its rich history and iconic design.
The South African Mint altered the world of precious metals markets and bullion investing for all time when they dreamed up the concept of making a gold coin that would be legal tender and come in a standard one troy ounce size in 1967. Thanks to this genius move, their gold coins became the most commonly available bullion pieces on earth.
The Krugerrand (; Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and rand, the South African unit of currency.
Unlike virtually all other modern bullion coins, Krugerrands have no nominal face value. Yet they are considered legal tender in South Africa by the South African Reserve Bank Act (SARBA) of 1989 based solely on their gold content. The Krugerrand’s "denomination" is therefore implicitly ‘one ounce of fine gold’ (or the fractional equivalent).
The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. During the bull market in gold of the 1970s, the gold Krugerrand quickly became the primary choice for gold investors worldwide. By 1980, the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for investors buying gold.
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The coin is so named because the obverse, designed by Otto Schultz, bears the face of Boer statesman Paul Kruger, four-term president of the old South African Republic. The reverse depicts a springbok, the national animal of South Africa. The image was designed by Coert Steynberg and was previously used on the reverse of the earlier South African five shillings (1947-51 and 1953-59) and 50-cent (1961-64) coins.
Confusingly among modern gold bullion coins, the specified weight (1 troy oz etc.) refers to the precious metals content only. This is why the 1 troy oz. Krugerrand actually weighs 1.09 troy oz.
The South African Mint Company produces limited edition proof Krugerrands intended to be collector's items rather than financial assets. They can be distinguished from the bullion Krugerrands both by the crispness of its design and by the number of serrations on the coin's edge.
2017 marked the 50th year of issuance (1967-2017), and to commemorate the anniversary, the South African Mint produced "Premium Uncirculated" versions in 0.9167 fine (or 22 k pure) gold. Additionally, the first platinum (0.999 fine) and silver (0.999 fine) Krugerrands were minted. The issue limit for these commemorative platinum, gold, and silver coins was 2,017 for platinum, 5,000 for gold, and 1,000,000 for silver.
The commemorative issues are distinguished by a '50' privy seal mark above the springbok design on the reverse for the platinum and silver issues and to the right of the springbok design on the gold issues.
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The South African Reserve Bank restricts the exportation of Krugerrands by a South African resident to a non-resident to a maximum of R30,000 (about US$2,100 or €1,870 as of June 2018).
The Design and Features
The 2017 Silver Krugerrand features an improved version of the original Krugerrand design. Computer-assisted technology and laser etching have enhanced the dies themselves, bringing out impressively sharp details. It comes in both Proof and Premium Uncirculated finishes, the process to strike Premium Uncirculated coins being similar to the meticulous handled with care, multiple strike approach the Royal Canadian Mint uses to produce its Specimen finish.
The design of the Krugerrand’s obverse is from the 1892 South African gold pond coin, which was created under contract by Otto Schultz at the Berlin Mint in Imperial Germany because the mint in Pretoria was not ready for production. The central motif is a left-facing portrait of President Paul Kruger. He has a lengthy beard and connected sideburns but no mustache.
The inscriptions SUID AFRICA and SOUTH AFRICA, separated by a small diamond shape longer than it is tall, wrap clockwise around the rim of the coin, starting in the lower left quadrant of the obverse.
The springbok takes center stage on the reverse, portrayed mid-stride with all feet in the air as it galavants over the savannah. The word KRUGERRAND arcs overhead. The motif was designed by South African sculptor Coert Steynberg. A special 50th-anniversary privy mark can be found in the field between the “G” in KRUGERRAND and the hind quarters of the springbok. The year 2017 is divided in half by the central motif, with “20” on the left and “17” on the right.
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South Africa Silver Krugerrand Coins are minted in a gorgeous proof finish. They are available in the single ounce, one Rand face value edition for this their 2017 first year of minting. South Africa Silver Krugerrand Coins carry a minor face value of one Rand. The silver value intrinsic in these coins is far greater than the face value. This value is derived from the spot price of silver as well as a premium to cover the costs of minting and distribution.
The front side of coins is commonly called “the obverse” in numismatics. South Africa Silver Krugerrand Coins bear an obverse with the consistent theme on these Krugerrand coins - the portrait of their beloved first hero of the republic Paul Krugerrand. He became a symbol of resistance to imperialism the world over when he fought in the Second Boer War against the at-the-time unbeatable British Empire, their unparalleled navy, and their rightly much-feared army.
The backside of coins is called the “reverse” by coin collectors and investors alike. South Africa Silver Krugerrand Coins showcase the nation's beloved symbol and native animal, the springbok antelope, on the reverse. Besides this, the coin reverse carries the mint year and silver weight and purity of the piece.
South Africa Silver Krugerrand Coins come in a one troy ounce version.
Key Features of the Silver Krugerrand:
- Contains 1 troy ounce of .999 fine silver
- Features Paul Kruger on the obverse and a Springbok antelope on the reverse
- Legal tender in South Africa
Here's a table summarizing the specifications of the South African Silver Krugerrand:
| Attribute | Specification |
|---|---|
| Metal | Silver |
| Purity | .999 fine |
| Weight | 1 troy ounce (31.103 grams) |
| Obverse | Paul Kruger |
| Reverse | Springbok Antelope |
| Legal Tender | Yes (South Africa) |
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Investment Potential
Ideal for both collectors and investors, the 1 oz South African Silver Krugerrand is a valuable choice for diversifying portfolios and is eligible for self-directed IRAs. The South African Krugerrand is perhaps its most important asset. It is still the most extensively collected and traded bullion coin on the planet. Which means when you buy Krugerrands, you can be confident that there will be a good deal of interest when it comes time to sell.
If you are looking for a dependable gold coin for investment, the South African Krugerrand is the most popular investment bullion coin in the world, making it an excellent coin to consider adding to any precious metals investment portfolio.
As one of the world’s most beloved and recognisable coins, the gold Krugerrand coin is recognised worldwide and can be traded practically anywhere in the world, at any time.
To learn more about the South African Krugerrand and to see how it could fit into your investment portfolio, please contact us and an experienced Mint State Gold representative will be happy to see how we can assist you.
Why Invest in the South African Silver Krugerrand?
- Rand Hedge: Silver is a Rand hedge that provides a diversified South African portfolio some protection against Rand weakness. Historically, when the South African rand weakens, the price of silver increases.
- Affordable Entry: Silver has a more affordable entry point when compared to gold, which makes it more accessible for smaller investors. Silver offers many of the benefits of an investment in gold at a much lower entry point.
- Industrial Demand: Silver is a key component in green technologies like electric vehicles and solar panels. The increasing industrial demand, resulting from a diminishing supply of support, will inevitably lead to much higher prices in the future.
- Intrinsic Value: Silver is not a paper asset; it can’t be printed or defaulted on. Silver bullion offers a form of real wealth that can help preserve purchasing power and provide protection against inflation, currency devaluation, and systemic financial risks.
Investing in Silver Krugerrands: Common Questions
The Silver Krugerrand has become a favourite among South African investors because it combines affordability, recognition, and trust.
Lower entry point: Silver is far more affordable than gold, making it accessible to first-time investors who want to start building a portfolio of precious metals.
Global recognition: Backed by the South African Mint and Rand Refinery, the Silver Krugerrand carries the same heritage as the gold Krugerrand - one of the world’s most traded coins. This reputation gives investors confidence and ensures strong resale demand.
Hedge against uncertainty: Silver, like gold, protects wealth against inflation, currency weakness, and market volatility - issues South African investors know well.
Liquidity: Because the coin is widely recognised both locally and internationally, it’s easy to buy and sell at market-related prices.
Diversification: Holding silver alongside gold balances a portfolio, offering exposure to two key precious metals.
For many South Africans, the Silver Krugerrand is the gateway to precious metals investing - trusted, liquid, and backed by a brand with over 50 years of credibility.
Where to Buy and VAT Considerations
Investors can buy or sell Silver Krugerrands through accredited bullion dealers such as African Bullion, which is an authorised dealer with the Rand Refinery. Other options include banks, the South African Mint, and the secondary market. While private sales are possible, they require careful checks for authenticity and fair value. Working with an accredited dealer offers the most secure and transparent route, ensuring that Silver Krugerrands are genuine and priced in line with the global silver spot market.
Yes. Unlike gold, silver bullion coins such as the Silver Krugerrand are subject to VAT in South Africa. This adds to the upfront purchase price, but it is not a permanent loss. When investors sell their coins back to a VAT-registered dealer, they complete a VAT resale declaration form, allowing the dealer to reclaim the VAT. This is reflected in the buy-back price, so investors recover the VAT portion.
Please note: The specific year of each Silver Krugerrand will be based on our current inventory and cannot be chosen in advance. Regardless of the year, each coin upholds the exceptional standards of quality, purity, and craftsmanship that the South African Krugerrand is renowned for.
At Sharps Pixley, we are passionate about ensuring that all our customers are fully up-to-speed before deciding on their investments. So, if you'd like to learn more about the South African Krugerrand drop us a line on 020 7871 0532, or why not pop into our London, St.
The Rand Refinery, the makers and distributors of the Krugerrand, don't sell directly to the public. We stock ½ ounce and ¼ ounce, along with 1 ounce mixed years Krugerrand coins, which means that whatever your budget you can invest in or collect a piece of world history.
The resurgent popularity of gold Krugerrands, coupled with rising gold and silver prices, led to the creation of one-ounce silver Krugerrand bullion coins beginning in 2018.
