Posted on January 13, 2023
For investors buying gold and silver coins as a means of storing wealth, the South African Krugerrand is the coin that started it all. Issued for the first time in 1967, the South African Krugerrand is so synonymous with the gold bullion industry that, in most cases, you can simply use the term Krugerrand and people will instantly know what coin program you are talking about. In 2023, this beloved coin program returns and you will find various 2023 South African Krugerrands available online at JM Bullion.
On the obverse of the 2023 South African Gold Krugerrand, you will find the historic portrait of Paul Kruger. Born Stephanus Johannes Paulus Kruger, the former President of the South African Republic was a prominent Boer figure in the late 19th century and was so beloved that he was known affectionately as Oom Paul in Afrikaans, which translates as Uncle Paul. Kruger is shown here in left-profile relief.
The reverse side of the 2023 South African Krugerrands comes with a depiction of a Springbok antelope. This animal is the national symbol of the modern Republic of South Africa and is shown on the coins pronking, a common maneuver among quadrupeds of its type that sees the animals use a series of leaps to get as high as four feet off the ground with all legs in the air. The Springbok is depicted in right-profile relief.
The primary options available in the 2023 South African Krugerrand Series are the four gold bullion coins and the 1 oz silver bullion coins. The oldest coin in the series is the 1 oz South African Gold Krugerrand Coin, an option available annually since 1967. The three fractional-ounce Gold Krugerrands have been available annually since 1980. The 2023 1 oz South African Silver Krugerrand Coin is in just its sixth year of availability.
Silver Krugerrand Coins are the only ones with multiple packaging options, and also the only coins in the series with a legal tender face value assigned to the coins. Silver Krugerrands are available in plastic flips, tubes of 25 coins, or mint-sealed boxes of 500 coins. The Gold Krugerrands are also available individually in flips, with multiples in acrylic tubes of varying amounts based on weight.
The South African Mint and Rand Refinery struck the first South African Gold Krugerrands on July 3, 1967. The series was the first of its kind and was available for 13 years without any competition. By the time the Canadian Gold Maple Leaf debuted in 1980, the Gold Krugerrand dominated the gold bullion industry to the point that it accounted for 90% of the overall market.
JM Bullion proudly offers the 2023 South African Krugerrands to investors looking to get a jump on the latest release of the coins in this collection. If you have any questions, please don’t hesitate to reach out to our customer service team. You can call us at 800-276-6508, chat with us live online, or email us directly with your inquiries. Remember to follow us on social media and read our weekly blog posts as well