If you are an active investor in precious metals, consider opting for exchange-traded funds or mutual funds that track silver prices or indexes as these investments offer easier and lower-cost access to physical coins or bullion.
Only precious metals which meet certain fineness requirements can qualify as eligible investments in an Individual Retirement Account (IRA). For more information, consult with a retirement specialist.
The Krugerrand is a bullion coin
The Krugerrand is one of the world’s most beloved investment bullion coins. Tradeable on worldwide spot markets, making this precious metal coin an excellent addition to any investor’s portfolio.
This coin comes with an additional proof edition designed for coin collectors and features a reflective surface with an antique mirror finish. These coins often sell at a premium over their bullion counterparts and should be handled carefully to preserve their condition.
The 2022 Silver Krugerrand continues the iconic design first debuted by its gold counterpart in 2017. On its obverse is Paul Kruger, President of South African Republic from 1883-1899 who led his country against Britain during the Boer War; on its reverse are springboks as South Africa’s national animal; its weight and rating appear on its base; coin designer Coert Steynberg created it. Gold Krugerrands gained widespread appeal after Bretton Woods collapsed in 1971 allowing citizens of many nations once more to own gold bullion; further popularity was spurred by international sanctions against South Africa over its apartheid policies.
It is minted in South Africa
Krugerrand coins have long been recognized as iconic precious metal coins. Available in both gold and silver versions, their iconic design makes it instantly recognisable across the world. Recently, South African Mint answered investor demand by offering one oz silver versions of this popular bullion coin.
The Krugerrand features the likeness of 19th-century President Paul Kruger surrounded by both Afrikaans and English translations of “Suid-Afrika”. On its reverse is depicted a springbok antelope as its national symbol.
The South African Mint is widely known for its high-quality coin production and numismatic services, having participated in international coin programs as well as being sought out by collectors and investors worldwide. Numerous South African Mint coins have earned SP70 grades from Numismatic Guaranty Corporation or Professional Coin Grading Service; several have even achieved First Release or First Strike status!
It is a semi-numismatic coin
The Internal Revenue Service requires any silver bullion product used in an IRA must meet certain purity standards, typically at least 0.999% pure silver purity. Furthermore, an approved depository must store this silver; most bullion dealers that offer IRA-compliant silver products have partnerships with one or more depository providers.
The Krugerrand coin’s obverse depicts President Paul Kruger, an iconic figure in South Africa who served as its third president from 1883 to 1900 and can be found here as well as below his likeness on its reverse. Additionally, both Afrikaans and English spellings of its national name appear below his likeness on this side.
The reverse of SD Bullion’s coins features an iconic South African springbok antelope bounding across a landscape, an image seen frequently during South African safaris. Both sides of the coin bear its year of mintage alongside “FYNSILWER 1 OZ FINE SILVER R1.” Some First Strike and Early Release coins can even be purchased.
It is a collectible coin
The Silver Krugerrand coin from South African Mint was released for public sale in 2017 as a collectible coin with unique privy marks for each springbok antelope image featured. Both series are considered legal tender in South Africa and serve as collectible items with collector appeal.
Silver coins and bars eligible for inclusion in an Individual Retirement Account must meet a minimum fineness level determined by the IRS, and be manufactured either by a national mint, an accredited refiner, assayer, or manufacturer. Pre-1965 90% silver coins are not accepted by IRAs.
Self-directed IRAs enable investors to hold physical precious metals such as silver in their retirement account tax-free until withdrawal at retirement age (i.e. when reaching 59.5). Furthermore, this asset class helps diversify retirement portfolios and reduce risks while silver bullion coins tend to come at a more reasonable premium than bars or rounds.