The new silver bullion Krugerrand went on sale this week and is expected to generate significant interest, says Prestige Bullion, a joint venture between Rand Refinery and the South African Mint.
The silver Krugerrand is Prestige Bullion’s first foray into silver and its introduction makes this the first time in the Krugerrands’ 51-year history, that the coin is produced in a metal other than 22 ct gold in unlimited mintage.
Linked to the daily price of silver, it is expected that the new Krugerrand will help continue the strong momentum of its predecessor, the gold bullion Krugerrand.
The 1 oz silver bullion coin will be made from silver with a purity exceeding 99.9% and weighing in at not less than 31.107 g and with a diameter of 38.725 mm.
The new silver bullion coin will also bear the same iconic design as the gold bullion Krugerrand featuring the springbok designed by Coert Steynberg on the reverse. The observe of the coin features the bust of Paul Kruger, designed by Otto Shultz, surrounded by 200 serrations.
Each coin has a face value of R1.
“Extending the Krugerrand brand to silver lends it an immediate and unique property as an attractive asset class. The brand’s illustrious pedigree is likely to attract interest from investors and collectors alike.
“The 1 oz silver bullion coin has been developed to serve as a reliable and attainable investment in the Krugerrand,” says Prestige Bullion director and Rand Refinery commercial executive head Richard Collocott.