On the 1st August 2018 Silver Krugerrands went on sale. Why is this worthy of mention?
The reason is that this is the first time that South Africa’s iconic Krugerrand is being minted in silver for the general collector.
Almost everyone who has bought gold is aware of the Gold Krugerrand, which, incidentally was first sold in 1967, and has proven to be one of the world’s most popular 1-ounce gold bullion coins. Since then, over 60 million units have been sold, which at today’s price, would represent around £57 Billion or $74 Billion.
The silver version is composed of one ounce of 99.9% fine silver weighing in at not less than 31.107g and with a diameter of 38.725 mm. Each coin is dated 2018 and has a face value of 1 Rand and its selling price will be pegged to the daily silver price. The coin is a joint venture between Rand Refinery and the South African Mint. Mintage amounts will be based on customer demand which basically means no real limit set.
Its worth noting that in 2017 a 1 oz. Premium Uncirculated Silver Krugerrand commemorative coin designed for collectors was minted to commemorate the first gold Krugerrand’s 50th birthday. However, precious metal buyers wanted a competitively priced Silver Krugerrand Bullion coin with a low premium price over the current spot price of silver, for diversification in their investment portfolios and therefore appears the 2018 silver bullion Krugerrand.
We have noticed that in Europe at least, its one of the lowest priced coins – even lower at the moment than many popular common Australian Silver coins and lower than the Canadian Maple Leaf which often offers excellent value for money when compared to many of its counterparts.
We have little doubt that these will prove popular by those who wish to purchase silver cheaply but also hold a coin which has international recognition.
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