- Description
Details
Overview
The Krugerrand might be the most widely owned bullion coin worldwide. First introduced in 1967, it was designed as a vehicle to encourage individual gold investment.
Design
The Krugerrand’s obverse (front), designed by O. Schultz, features the first South African president, Paul Kruger. He is surrounded by South Africa, written in Afrikaans and English – “SUID-AFRIKA ‘ SOUTH AFRICA.”
The reverse, designed by C.L. Steynberg, shows a running springbok (South African antelope), and it also lists the issue date and gold weight and purity. The Krugerrand has no face value because it is designed for trade outside South Africa, rather than as a national currency.
Minting
Krugerrands are minted with a 91 2/3 parts gold and 8 1/3 parts copper alloy. The official South African Mint was privatized in 1988 and became subsidiary of the South African Reserve Bank.
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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.
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