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South African Mint

The South African Mint was established as a full subsidiary of the SA Reserve Bank in September 1988, after the South African Mind was privatized back in the early 1980s. The South African Mint was quickly relocated when the Mint located on Visagie Street was not equipped for an expansion that was needed due to the high demand for the coins. In October 1992, the new Mint opened at Gateway, Centurion, which was about two years after the new facility was completed.

The South African Mint produces a lot of high-quality products including the South African Gold Krugerrand, which is 22K gold. These coins are the most popular gold bullion coins in the world, and by 1980 these coins were 90% of the world gold coin market. The South African Mint began producing these coins back in 1967, with these illustrious coins being a symbol of both prestige and luxury and also being a symbol of private gold ownership. The South African Mint began producing the Gold Krugerrand in order to get individuals to own and invest in gold bullion, so this coin was more a symbol of the private individual getting into the gold market.

When you look at the South African Mint-produced coin the Gold Krugerrand, you should know that these coins do not have a stamped face value on them. These coins come in 1-ounce of gold and the cost or legal value is whatever the price of gold is at that time in the market. The quality of these coins are superior and on the obverse side of the coin you see an image of Paul Kruger, Kruger was the president of South Africa’s Republic. On the other side of the coin, you see a springbok antelope, which is a national symbol for South Africa. With the Gold Krugerrand as well as the other gold products that the South African Mint, you know you are getting a very detailed and intricately designed precious metal of high-quality and purity.