The South African Mint strikes all of the coins issued by South Africa. This Mint is associated with their national bank as well as the Rand Refinery. Today, all of the bullion that is sent to the South African Mint to be struck into coins comes from the Rand Refinery. Neither of these facilities are new to the coin and bullion world, the South African Mint was founded in the 1890s and the Rand Refinery came about in 1920. Both of them are quite trusted in markets all around the globe. The Rand Refinery is actually the largest refining complex in the world today.
The South African Mint is among the most notable Mints in the world today. Their coins are high quality and can stand next to any other pieces on the market. Coins from this Mint are an excellent choice if you’re looking for something from another nation and you want a high quality specimen, especially if historical themes are appealing to you.
While the South African Mint strikes a variety of coins like many other Mints, their most well-known coin is the Krugerrand. In fact, the Gold Krugerrand is one of the world’s most well-known bullion coins and there are a number of reasons for this. One of the most significant reasons is the age of the series. The first Gold Krugerrands were issued in 1967, which makes them the oldest of the modern bullion coins.
At one point, there was actually a bit of infamy surrounding the Gold Krugerrand, which is another reason that they are so widely known. The Gold Krugerrand specifically was banned by President Ronald Reagan in 1985. This was done in response to South Africa’s Apartheid policies of the time. This ban was lifted later after such policies were abolished by South Africa.
The Gold Krugerrand shares a number of similarities to the Gold American Eagle. These coins are made of .9167 karat gold. While the standard Gold Krugerrand weighs 1 troy oz., there are fractional sizes that are produced. The standard fractional Gold Krugerrands are ½ troy oz., ¼ troy oz., and 1/10 troy oz. Proof Gold Krugerrands are also offered today.
2017 brought about something that had never been seen before. It was the 50th anniversary of the Gold Krugerrand and the South African Mint introduced the very first Silver Krugerrand in a premium uncirculated finish to mark the occasion. There was a lot of excitement about these coins and the South African Mint decided to continue producing them as a bullion version in 2018.
The designs found on the Krugerrand have remained basically the same since 1967. The obverse features a detailed portrait of Paul Kruger. Kruger served as the first President of South Africa and was a major figure in the nation’s history. In fact, the Krugerrand is named after him.
The Gold Krugerrand and Silver Krugerrand are primarily bullion coins, although other versions are offered just for collectors. The South African Mint also strikes a number of collectible coins. Some of their coins for collectors include the Natura and Protea series. Multiple coins depicting Nelson Mandela have been struck as well. Mandela focused on South Africa, but his work and legacy are still appreciated and admired by many around the world. In fact, a series was introduced by the South African Mint to mark the 100th anniversary of Mandela’s birth.