Specification
| Silver (oz): | 1.0 | Fineness (carat): | 99.9% | |
| Pure (g): | 31.103 | Diameter (mm): | 40.00 | |
| Thickness (mm): | 2.98 | Edge: | Milled |
History
The Silver Krugerrand was introduced in 2017 by the South African Mint, marking the 50th anniversary of the original gold Krugerrand. While the gold Krugerrand was designed to promote South Africa's gold mining industry, the silver version was created to expand the appeal of the Krugerrand brand to a broader audience, particularly those interested in silver as a more accessible precious metal.
The Krugerrand series, whether gold or silver, is deeply tied to South Africa's mining heritage. The Witwatersrand region, which has historically produced nearly half of the world's gold, also holds significant silver deposits. The introduction of the Silver Krugerrand was a strategic move to capitalize on the global demand for silver bullion while maintaining the legacy of the Krugerrand as a symbol of South African pride and economic resilience.
The Silver Krugerrand, like its gold counterpart, does not bear a face value. Instead, its worth is intrinsically linked to the prevailing market price of silver. This design choice underscores its primary purpose as a bullion coin rather than a circulating currency.
The South African Krugerrand contains silver from the same rich deposits that have made the Witwatersrand region famous for its gold.
In modern coin history, the Silver Krugerrand has quickly gained popularity as a complementary piece to the gold version. It offers investors and collectors a more affordable entry point into the world of precious metals while maintaining the iconic design and legacy of the Krugerrand brand.
Obverse
Portrait of Afrikaner statesman Paul (Paulus) Kruger, fifth President of the South African Republic (ZAR, Zuid Afrikaansche Republiek). Designed by the German engraver, Otto Schultz. This engraving first appeared on ZAR coinage in 1892. Legend: 'SUID-AFRIKA · SOUTH AFRICA'.
Reverse
A pronking springbok, the national animal of South Africa, graces the reverse. This design first appeared in 1947 on the South African Crown coin and was designed by sculptor Coert Steynberg. Legend: 'KRUGERRAND 1OZ FINE SILVER', with the date either side of the springbok.
Presentation
Issued loose in bullion condition. These 1oz Silver Krugerrands may show some minor blemishes such as edge knocks or scratches owing to mass production methods. This is perfectly normal for bullion coins and will not affect the precious metal value of them. Images provided of this product are stock photos and the coins you receive will be from the same issue, having the exact same specifications.
Buying Silver Krugerrands
Silver Krugerrands are produced by the South African Mint in collaboration with the Rand Refinery. They are highly sought after by both investors and collectors due to their affordability and liquidity. The coin's 99.9% silver purity ensures its appeal to those seeking a tangible asset with intrinsic value.
Although intended as an investment article, there is a collector's market for Silver Krugerrands. Limited-edition releases and special finishes have gained traction among numismatists, adding to the coin's appeal.
Top Reasons to Buy Silver Krugerrands
Silver Krugerrands can be a great investment! Purchasing silver Krugers is a popular way to acquire the precious metal, and there's a very liquid market in them worldwide. We've outlined some reasons why you should consider buying them:
Popularity - The 1oz Silver Krugerrand is gaining global recognition and is traded widely.
Affordability - The 1oz silver Krugerrand is priced closely to the silver spot price, making it accessible.
Entry Level - Affordable entry into silver bullion investment for many people.
Authenticity - The 1oz silver Krugerrand is an official legal tender coin of South Africa.
Physical Asset - A 1oz silver Krugerrand coin is a physical, tangible asset. You can touch it, hold it, and store it wherever you like.
Liquid Asset - If you need the money, you can sell 1oz silver Krugerrand coins almost instantly, virtually anywhere in the world. There is a strong buyer market for silver coins.
1oz Silver Krugerrand Face Value
The Republic of South Africa is the southernmost country in Africa. The currency is the South African Rand. In 1961, South Africa replaced the Pound (GBP) system with the decimalised Rand (ZAR), with 100 cents making up one Rand (R1). In introducing the Silver Krugerrand, the intention from the South African government was to provide a bullion coin that could be traded globally, with its value tied to the market price of silver.
Unusually for a legal currency coin, the Silver Krugerrand does not bear a face value. Its worth is determined by its silver content and the prevailing market price of silver. This design choice reinforces its role as a bullion coin rather than a circulating currency.
Conclusion
To this date, the Silver Krugerrand has become a popular choice for investors and collectors alike, offering a tangible connection to South Africa's rich mining heritage. With its iconic design, high purity, and global recognition, the Silver Krugerrand stands as a testament to the enduring appeal of precious metals as a store of value.
By acquiring a Silver Krugerrand, investors gain not only a piece of South Africa's history but also a globally recognized asset that can be easily traded or held as a long-term investment.
