50th anniversary of the Krugerrand
Kruggerrand sales are expected to reach their highest level since the 1980s, amid predictions that demand will be 15 per cent to 20 per cent ahead of last year. Already highly popular, 1.1 million ounces of the South African coins were sold in 2016, equivalent to a 26 per cent share of the global gold bullion coin market.
The Kruggerand’s growing appeal comes exactly 50 years after the coin was launched in 1967. Since that time, more than 53-million ounces of gold, or over 60-million pieces, have been sold in the form of Krugerrands. Originally sold for 27 rand (then worth $35), an ounce of gold is now worth around 17,000 rand ($1,320).