Krugerrand - meaning and definition. What is Krugerrand
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What (who) is Krugerrand - definition

SOUTH AFRICAN COIN
Krugerand; Kruegerrand; Kruger rand; Krugerrands; Kruggerand; Kruggerrand; Kruggerrands; Cougaran
  • 2022 South Africa 1 oz silver Krugerrand obverse

krugerrand         
['kru:g?rand]
(also Kruger)
¦ noun a South African gold coin with a portrait of President Kruger on the obverse.
Origin
1967: from the name of Paul Kruger, President of Transvaal 1883-99, + rand1.
Krugerrand         
The Krugerrand (; ) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and rand, the South African unit of currency.

Wikipedia

Krugerrand

The Krugerrand (; Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and rand, the South African unit of currency. On the reverse side of the Krugerrand is a pronking springbok, South Africa's national animal.

By 1980 the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for investors buying gold. However, during the 1980s and 1990s, Krugerrands fell out of favor as some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa.

Although gold Krugerrand coins have no face value, they are considered legal tender in South Africa by the South African Reserve Bank Act (SARBA) of 1989.

In 2017, the Rand Refinery began minting silver versions, which have the same overall design as the gold coin.

Examples of use of Krugerrand
1. One, a one–ounce South African Krugerrand worth about $800, turned up earlier this month in Washington.
2. Philharmonic, 1 troy oz. $443.18 off $ 1.83 Maple Leaf, 1 troy oz. $443.18 off $ 1.83 China Panda 1''4, 1 troy oz. $44'.55 off $ 1.85 Krugerrand, 1 troy oz. $430.10 off $ 1.75 U.S.
3. Accountants have found "nothing" and his lawyer claimed his crimes did not fund a "lavish lifestyle". Police who raided his "relatively modest" Nottingham home found a 10,000 BMW, ',000 in cash in bins and a 7,000 Krugerrand gold coin.
4. An added advantage is that these national gold bullion coins –– which include the American Gold Eagle, Canadian Maple Leaf, Australian Nugget and South African Krugerrand –– are immediately recognized worldwide and any coin dealer should be happy to buy them on the spot at the current price.