South African Krugerrand One Ounce Silver Bullion Coin 2023

Description

The name of the coin is derived from a mix of the South African currency name, the rand, and the first democratically elected president of the South African Republic, Paul Kruger. In 2017, the 1 ounce South African Krugerrand Silver Coin was introduced. On the obverse side, you can find the country of origin, “SUID-AFRIKA” and “SOUTH AFRICA,” and the image of Paul Kruger. The reverse side displays a springbok, South Africa’s national animal, along with the year of production “2023,” the coin’s face value “R1,” and its weight “1 oz.”

The production of all coins issued by South Africa is carried out by the South African Mint, which is affiliated with the national bank and the Rand Refinery. These facilities have been in the coin and bullion industry for a considerable time, with the South African Mint established in the 1890s and the Rand Refinery in 1920. They are widely respected in global markets, with the Rand Refinery holding the distinction of being the world’s largest refining complex presently.

In 2017, a first-of-its-kind event took place to celebrate the 50th anniversary of the Gold Krugerrand – the South African Mint released the inaugural Silver Krugerrand in a premium uncirculated finish. The introduction of this coin generated significant interest, prompting the South African Mint to produce a bullion version in 2018 and continue its production thereafter.