Commemorative coins for collectors in the gold bullion“s anniversary year – the South African Mint and precious metal refinery Rand Refinery are the manufacturers and distributors of the Krugerrand, the world“s most famous gold coin since 1967
Johannesburg, South Africa, 26 April 2017. The number-one investment classic among precious metal coins, the South African Krugerrand, celebrates its fiftieth birthday on 3 July 2017. The gold used for the Krugerrand comes from Rand Refinery in Germiston, east of Johannesburg. The South African Mint in Midrand, near Pretoria mints this golden ambassador from South Africa; over the past 50 years, the Krugerrand has turned into the most famous and at the same time most traded gold coin in the world.
The Krugerrand“s success story began when US President Richard Nixon announced the cancellation of the dollar“s convertibility into gold in the early 1970s. Gold suddenly became attractive to private investors, as an investment and as protection against inflation. At that time, South Africa produced 75 per cent of the world“s gold and the Krugerrand, which was said to be stable and well-tradeable due to its alloy with copper, launched its triumph as a globally recognised bullion coin.
Worldwide demand for the Krugerrand significantly increased in 2007 in the course of the global financial crisis. In 2016 more than 1 million ounces of bullion Krugerrands were sold, making it the most popular gold coin of 2016.
In the 2017 anniversary year, the South African Mint and Rand Refinery will also be issuing the bullion Krugerrand in coins of a tenth, a quarter, a half and one ounce of gold. In addition, 100,000 coins will be minted in a special one-ounce „anniversary edition“. There will be unique collectible or „numismatic“ Krugerrand coins made of silver and platinum, which will have additional collector value besides their pure investment value.
As a special highlight, limited numbers of collectible or „numismatic“ Krugerrand gold coins will also be minted in version of 50 ounces, 5 ounces, a twentieth of an ounce and a fiftieth of an ounce. These trade at higher premiums than the bullion coins due to their scarcity and finishing.
The state mint and the Rand Refinery, founded in 1920, jointly managed the bullion Krugerrand in a collaborative effort. Rand Refinery supplies the gold blanks, the South African Mint strikes the coins, before returning them to Rand Refinery for final packaging and sale. Rand Refinery is also responsible for the worldwide marketing of the Krugerrand. The collectible or „numismatic“ Krugerrand ranges are exclusively manufactured and managed by the South African Mint.
The Krugerrand has no fixed nominal value – its value depends on the daily fixed gold price. It is nevertheless legal tender of the Republic of South Africa.
For further information, please visit www.randrefinery.com.
Rand Refinery and the South African Mint produce the bullion Krugerrand in South Africa. Rand Refinery has refined nearly 50,000 tons of gold, around one third of the gold ever produced worldwide. The Rand Refinery was founded in 1920 by the Chamber of Mines in Germiston, South Africa to process raw gold mined around Johannesburg, marketing it around the world. The firm now processes approximately all gold mined in South Africa and a substantial share of gold mined in the rest of Africa. In addition to the world-famous Krugerrand gold coin, the company sells gold ingots ranging from one gramme to one kilogramme in weight. In Europe, the best-known ingots are the „elephant ingots“, bars of fine gold with an elephant motif on the back. The Rand Refinery has been admitted to the London Bullion Market Association, and is also listed for good delivery on the New York Commodities Exchange (COMEX), the Tokyo Commodities Exchange (TOCOM) and the Dubai Good Delivery Multi Commodities Centre (DMCC), amongst others.
Firmenkontakt
Rand Refinery
Richard Collocott
Refinery Road 1
1400 Germiston
+ 27 (0)11 418 9000
+ 27 (0)11 418 9231
gold@gold.co.za
http://www.randrefinery.com
Pressekontakt
financial relations GmbH
Jörn Gleisner
Louisenstraße 97
61348 Bad Homburg
+49 (0) 6172/ 27159 – 0
+49 (0) 6172/ 27159 – 69
j.gleisner@financial-relations.de
http://www.financial-relations.de
