| Krugerrand Gold Coins One of the World's Best Ways to Own Fine Gold Coins
The Krugerrand was originated in response to a series of attempts to demonetize gold. After intensive investigation into new methods of marketing and distributing gold, the Chamber of Mines of South Africa arrived at a new concept to put gold into the hands of the man in the street. The development of the original Krugerrand as an ounce-denominated gold bullion coin with no face value overcame the traditional problem inherent in the minting of gold coinage since the days of the Roman Empire, i.e. the value of the metal content of a coin outpacing its face value. In July 1967,
the first Krugerrands - containing 1 oz of pure gold, were sold. These were
proof Krugerrands and
proof-like Krugerrand gold coins, sold at high prices to coin
collectors.
From around 1985 until the early 1990s,
international sanctions prohibited the import of Krugerrands into many
countries, although it was wholly legal to own and trade already-imported
Krugerrands. It should be noted that sanctions no longer apply. Krugerrands
can be imported, exported and traded worldwide.
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