Cape Town - The SA Post Office (SAPO) has issued a stamp set to celebrate 50 years of the Krugerrand. Read Fin24's top stories trending on Twitter:
Apart from three international letter-rate stamps, SAPO issued a first-day cover to commemorate the 50th anniversary of the Krugerrand. The stamps, designed by philatelic artist Rachel-Mari Ackermann, depict the development of the Krugerrand in three stages, namely 1967, 2000 and 2017. The coin designs are relief embossed onto gold foiling and the only other colour used in the design is black ink.
The stamps are available at the Post Office’s Philatelic Services and on line at virtualpostoffice.co.za. They are also available at the South African (SA) Mint. As part of the 50-year anniversary of the Krugerrand, the SA Mint has included the stamps in its exclusive Krugerrand products range.
The Krugerrand coin was initially referred to as a “Trojan” in reference to one Troy ounce (oz) of gold content. The public was then invited to suggest a new name for the 1 ounce coin, and credit is given to a Mr Maré who suggested the name Krugerrand. It referred to President Paul Kruger and the name of the newly introduced currency (introduced in 1961), the "rand".
The Krugerrand was introduced on 3 July 1967 as a vehicle for private ownership of gold and was first offered to the public at the Rand Easter show in 1970 at a selling price of R27.40. A one-ounce coin today sells for more than R16 000.
The stamp sheet features the original 1967 1 oz Krugerrand, the 2000 1 oz Krugerrand and the 2017 1 oz Krugerrand.
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