Gold Krugerrand coin from 2024

The gold Krugerrand is issued each year in South Africa, where the South-African Rand Refinery is responsible for minting these coins. The Krugerrand is a very famous coin with a rich history, it was first issued in 1967 and is thus the first coin that was traded extensively purely for its gold value.
 
A Krugerrand contains 1 troy ounce (31.103 gram) of pure gold and is easy to trade. What differentiates the Krugerrand is its lower gold content. The coin weighs slightly more than 1 troy ounce, namely 33.933 grams and the purity of the coin is lower than other coins, not 99.9% but 91.67%. Nevertheless, the coin does contain exactly 1 troy ounce of fine gold, making it as readily tradable and equally valuable as any other gold investment coin.
 
The reason why the coin is minted in a higher weight is because the South African Rand Refinery also wanted to include a copper alloy in the coin. This is to make the coin more durable than if it were minted in pure gold alone. Gold is a quite vulnerable metal material and therefore it easily gets scratches or other damages - something that is not likely to happen with the Krugerrand.

Buying Krugerrand coins

Officially, the Krugerrand has the status of legal tender despite the fact that there is no nominal value displayed on the coin. However, in practice, the Krugerrand is not used as legal tender because the gold value is much higher than what the nominal value would be. The gold Krugerrand coins are primarily traded for their gold value.
 
Looking to buy gold coins for investment? Then the gold Krugerrand is often an affordable choice. A majority of all customers who purchase gold investment coins of 1 troy ounce choose between the Maple Leaf and the Krugerrand. Internationally, the Krugerrand is also the most common and most prevalent coin.
 
A Krugerrand is available at a relatively low premium, making it relatively inexpensive to invest in gold this way. In addition to the 1 troy ounce gold Krugerrand, smaller denominations are also available of 1/2 troy ounce, 1/4 troy ounce and 1/10 troy ounce.