1/2 oz gold Krugerrand 2022

Have you ever wondered where the word Krugerrand comes from? Well, it’s a combination of two words, Kruger and Rand. Kruger refers to Paul Kruger, President of the South African Republic from 1883 to 1900. Nicknamed Oom Paul (Uncle Paul), he was regarded as a vital force in South African culture and Afrikaner culture. He also gave his name to the famous Kruger National Park where everyone from around the world comes to admire wild life.

The other part of the word, the “rand” originates from Witwastersrand in the Gauteng province where a large amount of gold was found at the end of the 19th century.

The Krugerrand is the most widely held and actively traded bullion coin in the world with over 60 million ounces sold over the last 50 years. The brainchild of the Chamber of Mines in South African in 1967 and produced by Rand Refinery and the SA Mint, the Krugerrand tells a powerful story of resilience over time and promises investors an attractive return.

The 2022 ½ oz gold Krugerrand coin features the traditional springbok design on the reverse of the coin. The animal divides the date 2022 and above we find the name of the coin Krugerrand. Below the animal, the composition and weight are written in Afrikaans and English: “FYNGOUD 1/2 OZ FINE GOLD”.

Native to various nations throughout southern Africa, the Springbok is the official symbol of the modern Republic of South Africa and has appeared on Krugerrands since 1967. The design was created by Coert Laurens Steynberg, a renowned sculptor who worked in stone, marble, bronze, copper and wood. We can see his initials in the right field between the letter OL of Gold and the ground under the Springbok.

The obverse of the coin depicts Paul Kruger. His portrait was designed long before the Krugerrand was first minted, and was originally used on Boer coins. Above his portrait, we can find the word “SUID-AFRIKA”, which is South Africa in Afrikaans- the only official language of the country apart from English at the time the coins were initially issued.

Why consider investing in Krugerrand?

The Krugerrand is made from 22 carat gold, 9167 of pure gold and 833 parts copper- the same composition as the British Gold Sovereign coin. The alloy with copper ensures that the coins are not easily scratched or defaced, thereby protecting their value and tradability. It also makes the coin slightly redder in colour compared to other coins.

The Krugerrand is the only legal tender bullion coin with its face value denominated in ounces of pure gold, therefore it is guaranteed that the South African Reserve Bank will purchase any tendered Krugerrand at the ruling price of gold on the day.

Initially, the coin was only issued in one format: one ounce of gold.The range was gradually expanded through and now includes the ½ oz gold which you can acquire at Coininvest.