Krugerrand etymology

Etymology:

The Krugerrand derives its name from two sources:

• Paul Kruger: The former president of the South African Republic (Transvaal), who is depicted on the coin's obverse.
• Rand: The South African currency, which is equivalent to 100 cents.

Meaning:

The Krugerrand is both a legal tender coin and a bullion coin, meaning it is both a form of currency and a store of value. It is primarily used as an investment asset due to its high gold content and global recognition.

Origin:

The Krugerrand was first issued in 1967 by the South African Mint. It was intended to promote South African gold and stimulate the local economy. The coin quickly gained popularity as a bullion investment due to its high gold content (91.67%) and lack of numismatic value, making it easily tradable.

Additional Notes:

• The name "Krugerrand" is a registered trademark of the South African Mint.
• The coin is available in various weights, including 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz.
• The obverse of the coin features a bust of Paul Kruger, while the reverse depicts a springbok (a type of antelope) running.
• The Krugerrand is considered one of the most widely traded and recognized gold coins globally.

Krugerrand relate terms

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