Kruger­rand turns 50

CityPress - - Business - LESETJA MALOPE Lesetja.Malope@city­

The world’s most pop­u­lar col­lectable gold coin, the Kruger­rand, is cel­e­brat­ing its 50th birth­day this year. To mark the half-cen­tury since it was re­leased as the first eas­ily ac­ces­si­ble way of own­ing trade­able and col­lectable gold, 1 967 lim­ited edi­tion 1967 Vin­tage Proof Kruger­rands have been re­leased by the SA Mint.

The coins were launched ear­lier this year in Ger­many at the World Money Fair in Ber­lin, and were minted us­ing re­pro­duced dies from the orig­i­nal tool­ing used for the first Kruger­rands in 1967.

The one-ounce gold coins are printed by the SA Mint, a sub­sidiary of the SA Re­serve Bank. More than 50 mil­lion Kruger­rands have been sold world­wide over the past 50 years.

Ini­tially sold for R27 in 1967, the first minted coins are now worth about R46 000 each.

The coins were the first bul­lion coins in the world and were used by gov­ern­ment as an alternative le­gal ten­der to gov­ern­ment bonds, and were also used as a form of gold ben­e­fi­ci­a­tion.

SA Mint also printed commemorative coins for the Kruger­rand’s 30th and 40th an­niver­saries.

Ac­cord­ing to Alan Demby, the ex­ec­u­tive chair­per­son of The Scoin Shop, the 50th an­niver­sary com­mem­o­ra­tion coins will be sought-af­ter col­lecta­bles.

“It should be seen as a col­lectable, long-term in­vest­ment that will most likely appreciate in value over time,” he said.

“About 90% of the 60 mil­lion Kruger­rands pro­duced have been sold in­ter­na­tion­ally, earn­ing South Africa a con­sid­er­able amount in for­eign ex­change,” Demby added.

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