South African Silver Krugerrand
History
The Krugerrand was first minted on July 3, 1967, as a gold bullion coin. It offered investors a way to easily get into the South African gold bullion market. It was manufactured by the South African Mint and Rand Refinery. The coin was called Krugerrand after South Africa’s former president Paul Kruger and the South African currency called “rand.”
The gold Krugerrand is minted from a copper-gold alloy and became popular with gold investors towards the end of the 1970s. However, during the apartheid, South African took a turn for the worst because of the economic sanctions it faced, making it hard to import Krugerrands in western markets.
It was only in 2017 when Rand Refinery started minting silver Krugerrands on the 50th year since the coin was first minted.
Design
As with the gold Krugerrand, the silver Krugerrand shares the same design as the Gold Krugerrand. The obverse is the portrait of the former South African president Paul Kruger, designed by Otto Schultz. The words “SUID-AFRIKA·SOUTH AFRICA” are on top of the coin.
On the other hand, the reverse side of the coin showcases South Africa’s national animal, the springbok. And it was designed by Coert Steynberg. The words “KRUGERRAND,” mint year, and the silver’s weight in ounces are on the reverse side as well.
Value
The value of silver Krugerrands depends on four factors:
- The spot price of silver
- Condition
- Year
- Mint Mark
Coins just don’t rely on the spot price of their precious metal content but also on its collectible value. That’s why its condition, mintmark, and year are also important. Nevada Coin Mart will evaluate all of those for you when you decide to sell your silver Krugerrands. Evaluation of your coin’s value is free, and there is no obligation to sell.
It is also important to note that silver’s spot price is extremely volatile and changes by the minute. So sell when the prices are up, and buy when down.
We BUY South African Silver Krugerrand Coins
Do you have South African Silver Krugerrand coins and want them out of your hands? We’ll be happy to take them from you and even pay you for them! Here at Nevada Coin Mart, we are the #1 buyer of South African Silver Krugerrand coins in Las Vegas and Henderson, even in the entire Nevada state!
We offer free in-store evaluation for your piece using a state-of-the-art Thermo Scientific Niton X-Ray Spectrometer in order to accurately analyze and measure precious metal contents in your piece. This will ensure that you get top-dollar for your items.
We are open 365 times a year from 9 am to 6 pm, so come visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103 or call us up at 702-998-4000.