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Certified South African Gold Krugerrands
The South Africa Gold Krugerrand was minted by the South African Mint in 1967, in order to put South Africa in the gold market. The South Africa Mint was more than successful, by 1980, the South Africa Gold Krugerrand accounted for 90% of the global coin market. The South Africa Gold Krugerrand is a compound name of the country's president (Kruger) and South Africa's unit of currency (rand). In the 1970's and 1980's, a few western countries made the import of the South Africa Gold Krugerrand illegal, due to the apartheid regime at the time.
Production History of the South African Krugerrand
The South Africa Krugerrand has had a stagnant minting history and collectors are quick to find that the most common dates are from the late 1970's to 1980's. This is because from 1967-69, only 40,000 South Africa Gold Krugerrands were minted each year then that number significantly increases every year after that. By 1978, there were 6 million South Africa Gold Krugerrands being produced and by 1980, this coin reigned 90% of the global gold market. 1980 was also the year the South African Mint decided to add other fractional coins: half, quarter, and tenth ounce.
Certified South African Krugerrands
The Sheldon Numeric Scale is important to know if you are planning on investing in certified coins. Dr. William Sheldon was an American psychologist by trade and a numismatist as a hobby. In 1948, Sheldon developed the Sheldon Numeric Scale, which became the foundation of grading and certifying coins. The Sheldon Numeric Scale dictates that a coin's condition can fall between 1 and 70. Before this groundbreaking system, coins were graded mostly by physical appearance and could receive one of three grades.
The two most reliable and popular grading agencies, in the US, are: the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) are two companies that issue coins their grades. These companies not only certify coins, but they also encase the graded coin into an official holder, preserving the coin and marking the holder with its earned grade. This alone has changed the coin collecting game, while also offering a peace of mind for collectors and investors.
When purchasing a Certified South African Krugerrand, there is information provided on the coin holder that is important to know. The first thing to notice is the coin's strike type:
- MS: Short for "Mint-State;" refers to coins that have never been in circulation and are the same condition as when they were originally produced. Mint State coins will receive a grade ranging from 60-70 on the Sheldon Numeric Scale.
- PF/PR: Abbreviation for "Proof;" refers to the method of coin manufacture, made for eye appeal among collectors.
- SP: A "specimen" coin is a combination of strike type (somewhere in the middle of Mint State and Proof).
A Certified South African Krugerrand (or any certified bullion coin) will most likely come in one of two grades:
- MS/PF70: Bullion coins that have kept their original mint luster and contain zero post production flaws.
- MS/PF69: Bullion coins that contain 2 or less minute imperfections but still carry their original mint luster.
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