SA Mint reveals massive 50-ounce Krugerrand worth R2.2 million

As part of its 50 year anniversary, the South African Mint is releasing a limited edition 50-ounce Krugerrand, that wealthy collectors can buy for around R2.2 million.

Krugerrands were first minted in 1967 as a vehicle for private ownership of gold and investment. By 1980, it accounted for 90% of the global gold coin market.

The 2017 collection marks the 50th anniversary of the coin, and the SA Mint has celebrated by minting special gold coins, as well as launching a range of silver and platinum coins.

The silver and platinum coins are legal tender, but do not carry their weight value denominations, instead having tender values of R1 and R10, respectively.

Along with these and the normal proof gold Krugerrands, the SA Mint is also producing two larger coins to mark 50 years.

The first special coin is a 50-ounce gold proof Krugerrand, which has been coined as “the most monumental offering the SA Mint has created to date”, becoming the flagship offering of the 2017 Anniversary Collection.

Each ounce represents a single year being celebrated, and only 50 coins have been produced. Each coin is 10 cm in diameter.

 

The next special coin is a 5-ounce gold proof coin, which symbolises one ounce for every single decade that is being celebrated as part of the Golden Jubilee of the Krugerrand.

500 of these five-ounce coins have been produced, each bearing the 50th  Anniversary mint-mark. Each coin is 5cm in diameter.

According to the SA Mint, the prices for the two bigger coins are not yet finalised, but it added that they would be in the region on R190,000 for the 5-ounce coin, and R2.2 million for the 50-ounce coin.

Coin retailers have the 50-ounce coins on reserve, with authorised SA Mint partner, Pretoria based Mr Kruger, confirming it will sell the coin – while online traders like CoinInvest have it listed on reminder for 150,000 euros (R2.3 million), in line with the SA Mint’s pricing.

The 2017, 50th Anniversary coin prices are as follows:

  • The 50-ounce coin will be available for around – R2.2 million
  • The 5-ounce coin will be available for around – R190,000 
  • The 1-ounce coin will be available for – R31,600
  • The 1/2-ounce coin will be available for – R14,500
  • The 1/4-ounce coin will be available for – R7,900
  • The 1/10-ounce coin will be available for – R3,800
  • The 1/20-ounce coin will be available for – R1,900
  • The 1/50-ounce coin will be available for – R950

Mr Kruger will be selling the 50th Anniversary Krugerrand Collection, along with other collections like the 2016 Natura coin collection and the 2016 Protea coin collection, it said.


Read: You can now buy silver and platinum Krugerrands – here’s how much they cost

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SA Mint reveals massive 50-ounce Krugerrand worth R2.2 million