As interest in silver investment expands throughout the world, the South
African Mint will produce its first 1 oz Silver Krugerrand, to be released
this November. This is quite remarkable as the South African Mint has
been producing Gold Krugerrands since 1967.
Matter-a-fact, the South African Mint has produced over 50 million oz of
Gold Krugerrands over the past 49 years. It is the largest Official
Gold coin producer in the world. The U.S. Mint’s Gold Eagle comes in
second with over 22 million oz produced since the program started in 1987.
With the 50 year anniversary of the minting of the Gold Krugerrand in
2017, the South African Government will also release a new 1 oz Platinum
Krugerrand along with its new silver coin. They also plan on adding
some addition sizes of the Gold Krugerrand, such as a 1/20th, 1/50th oz
variants as well as a 5 oz coin.
However, the big deal for the silver investor will be the new 1 oz Silver
Krugerrand:
The South African Mint plans on releasing 500,000 of the 1 oz 2017
Silver Krugerrand next year, along with 15,000 proofs. I imagine
they plan to see how successful the initial coin sales of the Silver
Krugerrand will be before they revise their annual mintage figures.
I always wondered why the word, “Krugerrand” came from. According to
the first article that broke the news about the release of
the Silver Krugerrand from AgAuNews.com, that stated the
following:
Back in 1967, the South African government took the decision to release a
new gold bullion coin to help promote South African gold as an investment
vehicle into the international markets. Named after the famous South
African President and nature conservationist Paul Kruger and the South
African monetary currency, Krugerrands have been produced since the first
coin was struck on the 3 July 1967. Next year represents the coins
50th anniversary and the South African Mint are pulling out all the stops to
make it memorable.
First thing to note with the silver coin is that it carries an actual
denomination, 1 Rand, the gold never having done so. Apart from the
inscriptions in the bottom half of the reverse face, the design remains
unchanged from the original. For this 2017 coin, we’re going to assume that
these will continue onwards unless they’re an unlikely poor seller, there is
also a small privy stamp of the number 50 in a circle, the meaning obvious.
I actually plan on purchasing some of these Silver Krugerrands. I
think they are going to be a bit hit as investors will quickly acquire all
500,000 of the coins issued for the first year.
IMPORTANT NOTE: I will be publishing an article on
ExxonMobil within the next few days. I highly recommend checking out
the article because it provides startling evidence just how dire the U.S. Oil
Industry has become.
Check back for new articles and updates at the SRSrocco Report.
