It was mainly created to add value to, and create a premium for, SA gold sales. “It’s more than exceeded any expectations that could have been had at the outset,” says Richard Collocott, Rand Refinery’s executive head of marketing and a director of Prestige Bullion, the Rand Refinery and SA Mint joint venture.
Since inception, just less than 53.5 million ounces of gold in Krugerrands have been sold and over $21.5 billion of forex revenue generated.
Of the Krugerrands produced, about 90% have been sold internationally, says The Scoin Shop executive chairman Alan Demby.
“As an example of appreciation, a R10 000 investment in Krugerrand coins in 1967 would today be worth R6 million to R7 million,” he says. A 1967 proof Krugerrand trades for about R40 000 today.
In 2016 Krugerrands were the world’s top-selling gold coin, with $1.3 billion in sales – for the first time since 1980, says Collocott. “We anticipate that we should retain our number one position for 2017 also.”
See the rest of the article here: