The South African Mint was established as a full subsidiary of the SA Reserve Bank in September 1988, after the South African Mint was privatized in the early 1980s. High demand for the coins necessitated the Mint’s expansion, but it was not equipped for that sudden growth. It was quickly relocated from Visagie Street to Gateway, Centurion, completing the new building in about two years.
The South African Mint produces many high-quality products, including the 22K South African Gold Krugerrand. These are the most popular gold bullion coins in the world—by 1980 they comprised 90% of the world’s gold coin market. The South African Mint began producing these illustrious coins in 1967—a symbol of both prestige and luxury in private gold ownership. The South African Mint began producing the Gold Krugerrand in order to encourage individuals to own and invest in gold bullion, meaning that this coin was to be a symbol of private individuals investing in the gold market.
When you look at the Gold Krugerrand, you should know that these coins do not have a stamped face value on them. They are made with 1 oz of gold; the cost or legal value is whatever the price of gold is at that time in the market. The quality of these coins is superior. The obverse side of the coin has an image of Paul Kruger, the former president of South Africa’s Republic. The reverse side of the coin features a springbok antelope— a national symbol of South Africa. With the Gold Krugerrand, as well as the other gold products produced by the South African Mint, you know you are getting a high-quality, pure, intricately designed precious metal.