{"id":186483,"date":"2017-07-21T08:53:23","date_gmt":"2017-07-21T06:53:23","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=186483"},"modified":"2017-07-21T10:40:20","modified_gmt":"2017-07-21T08:40:20","slug":"sa-mint-reveals-massive-50-ounce-krugerrand-worth-r2-2-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/186483\/sa-mint-reveals-massive-50-ounce-krugerrand-worth-r2-2-million\/","title":{"rendered":"SA Mint reveals massive 50-ounce Krugerrand worth R2.2 million"},"content":{"rendered":"

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.<\/p>\n

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.<\/p>\n

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<\/a><\/strong>.<\/p>\n

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.<\/p>\n

Along with these and the normal proof gold Krugerrands, the SA Mint is also producing two larger coins to mark 50 years.<\/p>\n

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.<\/p>\n

Each ounce represents a single year being celebrated, and only 50 coins have been produced. Each coin is 10 cm in diameter.<\/p>\n

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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.<\/p>\n

500 of these five-ounce coins have been produced, each bearing the 50th \u00a0Anniversary mint-mark. Each coin is 5cm in diameter.<\/p>\n

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.<\/p>\n

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

The 2017, 50th Anniversary coin prices are as follows:<\/p>\n