Krugerrand 1oz Gold Coin 2016
Rand Refinery
The Rand Refinery was the inventor of the standard 1oz investment gold coin. With the launch of the Krugerrand in 1967 it still produces the most well-known gold coin in the world today.
The Krugerrand is probably one of the most famous and also the most successful investment gold coin in the world. The 2016 Krugerrand 1 oz is the latest bullion coin of the South African Mint. It has 22 karats with a fineness of 917/1000.
Weight & Size
The gross weight of the 2016 Krugerrand in 1oz is 33.93 grams, with a fine gold content of 31.103 grams, which is equivalent to 22 karats (91.66%) in purity. The diameter is 32.7 mm with a thickness of 2.8 mm.
| Ounce | Fineweight | Diameter | Thickness |
|---|---|---|---|
| 1oz | 31.103 g | 32.7 mm | 2.8 mm |
Gold Alloy
The gold alloy consists of 91.66% gold with 8.34% of copper. This is a classic 22K red-gold-alloy, which is also used for the English Sovereign. The advantage of this alloy is a higher scratch resistance. Coins that do not have the same hardness of the Krugerrand and get scratched over the years often have to be melted down. From 1967 to 1979 Krugerrand gold coins were produced exclusively in the one ounce size. In 1980 fractional weights of ½ oz, ¼ oz and 1/10 ounce were introduced and made available for purchase.
Benefits Krugerrand 1oz 2016
- Tradable worldwide
- Produced in huge quantities, thus having low premiums
- Gold coins can be stored in a small space
- Krugerrands can be sold and bought in small quantities
- The rippled edge of the Krugerrand acts to deter counterfeiting.
Annual Editions
As demand is extremely high, Krugerrand gold coins are minted in high volumes every year. Since 1967, the Krugerrand 1 oz differs only by the year on the back of the coin. In 1980, smaller coin weights were also introduced. Some years certainly have a higher value, as smaller numbers were produced.
Front and Back of the Coin
Front
On the front of Krugerrands the profile of Paul Kruger can be seen. Stephanus Johannes Paulus Kruger was President of the South African Republic from 1882 to 1902. On the left side next to Paul Kruger, is the word "SUID AFRIKA", on his right the words "SOUTH AFRICA". The design of the motif comes from Otto Schultz from the year 1892.
Back
On the back there is the portrait of a springbok antelope, which is the South African national animal. Furthermore, the word "KRUGERRAND" is shown (fractional coin weights show the size in ounces before the word). Left and right of the springbok antelope the year of coinage can be seen. On the bottom areas the words "FYNGOUD 1 OZ FINE GOLD" are embossed. The reverse was designed by Coert Steynberg in 1967.
History of the Krugerrand Gold Coin
The first issue of Krugerrands was on 3rd July 1967. The 22K gold-copper alloy was chosen because the proportion of 8.33% copper results in a better scratch resistance. The English Sovereign was regarded as a model for the Krugerrand.
In the first two years after the introduction, only about 30,000 to 50,000 gold coins were minted annually. These figures increased up to 2 to 6 million units in the time from 1974 to 1984. The reason for this high mint output was linked to the ongoing oil crisis. Krugerrand imports to the US and Europe were banned in 1986 because of the embargo against South Africa.
Ownership or trading was not prohibited at this time. The embossing volumes decreased significantly to a low in 1995. At this time only 8285 1 oz Krugerrand units were minted. In addition, 1995 is the year with the smallest circulation. In 1999, the ban on imports was abolished, resulting in a steady increase in annual sales.
Details 1oz Krugerrand
- Manufacturer: Rand Refinery
- Country of origin: South Africa
- Year of Issue: 2016
- Diameter: 32.69 mm
- Thickness: 2.84 mm
- Gross weight: 33.93 grams
- Karat: 22 K
- Fine Weight: 31.1 grams
- Fineness: 916.66 / 1000
- Copper content: 8.34%
- Alloy: Gold/copper alloy
- Scratch resistance: good
- Hardness: 57 HB
- Melting point: about 957 ° C
| Metal | Gold |
| Form | Gold Coin |
| Country of Origin | South-Africa |
| Manufacturer | Rand Refinery |
| Series | Krugerrand |
| Purity | 917/1000 |
| Fineweight | 31.10 gram |
| Gross Weight | 33.93 gram |
| Denomination (oz) | 1 oz |
| Year of issue | 2016 |
| Grade | Brilliant |
| Condition | Circulated |
| Thickness | 2.75 mm |
| Diameter | 32.69 mm |
| Packaging | Single in Pouch |
| Packaging Unit | 10, 20 or 25 per Tube |