2009 Gold South African Krugerrand 1 oz

2009 Gold South African Krugerrand 1 oz

A Krugerrand is a South African gold coin, first minted in 1967 in order to help market South African gold. The coins have legal tender status in South Africa but are not actually intended to be used as currency; thus it is regarded as a medal-coin. The Krugerrand was the first bullion coin that could be used as legal tender at the market value of its face gold content. Earlier gold coins such as the gold sovereign had a tender value in currency engraved on their face which could differ significantly from their market value. The Krugerrand was the first gold coin to contain precisely one ounce of fine gold and was intended from the moment of creation to provide a vehicle for the private ownership of gold. By making the coin legal tender, Krugerrands could be owned by citizens of the United States, which at that time prohibited private ownership of bullion but allowed ownership of foreign coins. Despite this, the policy of apartheid in South Africa made the Krugerrand an illegal import in many Western countries.

Metal Type : Gold
Weight: 1 oz

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