South African Mint
The South African Mint, founded in 1890, is the official sovereign mint of South Africa. It strikes the Krugerrand — the original modern bullion coin, in continuous production since 1967, 22-karat (.9167) gold alloyed with copper for its distinctive warm reddish-gold color.
The Krugerrand was the first modern gold bullion coin and remains one of the most widely traded. It contains 1 troy ounce of pure gold but is alloyed to 22 karats (.9167) with copper, giving the coin its characteristic warm red-gold hue and superior durability.
At one point in the 1970s, the Krugerrand accounted for over 90% of the global gold coin market. It remains a workhorse coin in the wholesale market with tight buy/sell spreads.
Note: at .9167 the Krugerrand does NOT qualify for Singapore IPM or Australian GST exemption (both require ≥99.5% gold). It is still a fine choice for most other jurisdictions.
Highlights
- Sovereign mint since 1890
- First modern bullion coin (1967)
- 22-karat alloy for durability
- Tight buy/sell spreads worldwide
Official site: www.samint.co.za
