The Krugerrand, which was first mooted by South African gold barons in the 1930s during their many grand lunch meetings in the centre of Johannesburg, celebrates its golden jubilee this year. As a birthday present, prospects for the yellow metal are once again being talked up on the back of growing geopolitical tensions and a return of inflationary pressures in Europe and the US. The coin "has come a long way", said Richard Collocott, executive head of marketing at Rand Refinery. The refinery, the sole supplier of the coin to distributors in the country, has sold more than 53 million since its launch in 1967. In the formative years of South African gold production, there wasn't much beneficiation of the precious metal as it was mined and immediately shipped to London for refining. That was until 1920, when steps were taken to launch a local refinery. After the Krugerrand was launched, the Chamber of Mines set in motion the mass marketing of the coin. The Krugerrand has been the most...
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