The Krugerrand was originally minted in 1967 with the aim of introducing the gold from South Africa into the international market. This was the only way through which this investing in the South African gold was accessible. This was the first of African coins to contain exactly one troy ounce of gold. It was manufactured to attract private investors who were interested in investing in gold.
There are a number of African coins that have been available for portfolio diversification in the United States. The political turmoil in most African states is what has affected the liquidity of these coins. For example the apartheid in South Africa made the value of the Krugerrand keep fluctuating.
The Krugerrand is a name that was derived from the name of Paul Kruger, who was a Boer leader who became the local president of the republic of South Africa. This African coin is made in such a way that the obverse side of the coin has the picture of President Paul Kruger. It also has the name of this republic. The other side has the image of a Springbok Antelope. This is a national symbol for South Africa. This side also features the year of manufacture.
Different African coins come in different sizes. For instance, the South African Krugerrand is a coin weighing a total 1.0909 ounces. It is a gold coin that is comprised of one trounce of pure gold. It is also made up of 2.826 grams of a copper alloy. Copper is added to make this coin durable. It makes it more resistant to scratching. The South African Krugerrand has a diameter of 32.6mm, a thickness of 2.74mm, and has a fineness of .9167.
These are properties that have seen this African coin gain international fame. It is recognized as one of the world’s oldest and most recognized gold bullion coins. This coin has liquidity, portability and beauty that are properties most people prefer in coins they want to invest in.
Another of the African coins you can find in the market are the R1 gold coins of South Africa. These are coins that were brought into the market in 1997. They are collectable coins that portray the South African diversified culture. These coins contain 0.1 ounce. They are 24 carat gold coins. They were minted to show the San culture diversity. The obverse side has the portrait of the South African coat of arms. The design of these coins keeps changing each year. They are however minted in limited quantities per year. They are both national and international market coins.