The Krugerrand Phenomenon
Fast Facts about the Krugerrand
First minted in 1967
The world’s first gold bullion coin
Silver version released in 2017 by Rand Refinery
Accounted for 90% of the global coin market in 1980
Banned for import in the United States from 1985-1991 due to South Africa’s apartheid policy
Over 50 million gold Krugerrands have been sold since the coin’s debut
The Birth of the Krugerrand
The Krugerrand can be traced back to a time when South Africa found itself amid a tumultuous era. As the world grappled with the complexities of the apartheid regime, the South African Mint sought to create a tangible representation of the country’s rich heritage and natural resources. In 1967, after years of meticulous planning and design, the first Krugerrand was minted.
Crafted with precision and symbolism, the Krugerrand was not just a coin but a powerful statement. Its name was inspired by Paul Kruger, the influential figure who served as the President of the South African Republic in the late 19th century. The reverse side of the coin features a springbok, the national animal of South Africa, while the front of the coin proudly displays Paul Kruger himself.
From the moment it entered the market, the Krugerrand quickly gained traction and captured the imaginations of investors worldwide. Its unique design, coupled with its accessibility and affordability, appealed to both experienced collectors and those new to the world of precious metal investments. The Krugerrand became an accessible gateway for individuals to participate in the gold market.
This coin not only revolutionized the investment landscape but also had a significant impact on the South African economy. As demand for the Krugerrand soared, it bolstered South Africa’s gold mining industry, creating jobs and fostering economic growth.
The South African Mint
Founded in 1890, the South African Mint has been responsible for the production of coins that showcase the nation’s rich heritage. Beyond its role in creating legal tender coins, the South African Mint has played a significant cultural role in shaping the nation’s identity. With a commitment to both quality and artistic expression, the mint has continually pushed the boundaries of coin design, capturing the essence of South Africa’s diverse culture and natural beauty.
But it is the production of the Krugerrand that truly puts the South African Mint in the spotlight. The world’s first modern gold bullion coin, the Krugerrand, was first minted in 1967 with the aim of making gold investment more accessible. The South African Mint worked diligently to ensure the coin’s design not only reflected the nation’s history but also appealed to investors worldwide.
Each Krugerrand is crafted with precision and attention to detail, reflecting the mint’s commitment to quality. This coin’s design featuring Kruger and a springbok has remained unchanged since the coin’s inception.
The Economic Impact
The Krugerrand’s significance extends beyond its exquisite design and investment value. Its economic impact on South Africa and the global gold market cannot be overstated. Since its introduction in 1967, the Krugerrand has not only become a symbol of South Africa’s rich gold heritage but has also played a pivotal role in shaping the country’s economy.
The production and export of Krugerrands have contributed significantly to South Africa’s GDP. With its vast reserves of gold, South Africa has long been one of the world’s leading producers, and the Krugerrand has been instrumental in driving the country’s gold mining industry. The coin’s popularity has led to increased demand for South African gold, creating jobs and stimulating economic growth.
Beyond its impact on South Africa, the Krugerrand has transformed the global gold investment landscape. Before its introduction, gold coins were typically sold at a premium, making them inaccessible to everyday investors. By offering the Krugerrand at a lower premium and with a convenient one-ounce size, the South African Mint democratized gold ownership, making it accessible to a wider audience.
Cultural Significance and Global Recognition
The success of the Krugerrand spurred the creation of numerous other gold bullion coins, further expanding the gold investment market. Today, investors around the world recognize the Krugerrand as a trusted and reliable investment vehicle.
Since its introduction, the coin has gained popularity among investors seeking a tangible asset that can withstand economic uncertainties. The Krugerrand’s gold content and purity, combined with its widely recognized design, have made it a preferred choice for those looking to diversify their investment portfolios and protect their wealth.
Thank you to my friend Michael, and Manhattan Gold and Silver for thsi informatve update
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36th ANNIVERSARY SALE
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NYCWD Emmy Jewelry Awards
Here are our Top Three, all too stunning for words in their Natural Fine Jewelery designs
Selena Gomez who stood out in a Jean Schlumberger by Tiffany Bird on a Rock necklace in platinum and yellow gold with a morganite of over 35 carats, diamonds and pink sapphires.
Jenna Ortega paired a Dior diamond necklace, bracelet and ring with her Dior gown.
Claire Danes contrasted her pink dress with diamond and sapphire Cartier High Jewelry earrings
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MARRIAGE PROPOSAL TAKES PLACE @ NYCWD’s NY OFFICE
We provide a comfortable, relaxed, trusting atmosphere for all our clients..!
Max Freeman, a steakhouse aficionado and proprietor from the UK, truly surprised his lucky lady, Paula Benstead, by proposing at our office!
‘Thank you again for introducing me to the beautiful diamond that is now the engagement ring I have shown with pride to so many of my family & friends. It was such a surprise when Max lured me to your office on the pretence of looking at a new watch for him. It wasn’t until you said “So this must be the lucky lady!”, that I started to realise what was going on. Max’s “proposal” was somewhat unconventional, but that’s just typical of him & one of the many reasons why I’m marrying him. I’ve described his approach to several of my friends who all seem to agree his words “well if we’re going to get married, there has to be a diamond”, make perfect sense & may even be described as romantic. Thank you again for helping us choose such a beautiful diamond & to create my perfect ring.’
Thank you Paula and Max, for choosing NYC Wholesale Diamonds and this wonderful review. We wish you a lifetime of love and happiness!
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5 Engagement Ring Trends Jewelers Expect to See in 2024
Here’s what should be on your radar if you’re planning to propose to your significant other this year.
If you’ve started your engagement ring shopping journey, you may have a few questions about navigating the process. Aside from the fact that you probably want your proposal to go off without a hitch, you likely also want to present your partner with a ring they’ll love forever. So, if you’ve caught yourself asking “What ring shape should I get?”; “What diamond shape should I buy?”; or, most famously, “How much should I spend on a rock?” don’t fret—you’re not alone.
Most, if not all, soon-to-be-weds find themselves contemplating the best ways to go about selecting the perfect engagement ring, and it’s absolutely normal to be unsure about the pre-wedding process. That said, while curiosity is a standard response to this shopping experience, it can cause a bit of stress if you’re not able to immediately find answers to all of the questions you may have. One way to avoid this predicament? Let the trends guide you.
Though they aren’t the end-all, be-all barometer, trends help us figure out what might be relevant during a particular period, whether that’s for a month, a year, or several decades. In the case of engagement rings, trends can help you find “the one” that is at once contemporary and timeless—a piece that will pay homage to today’s aesthetic while remaining in style for years to come. So as we enter 2024, we thought it was only right to list out the top engagement ring trends couples can expect to see in this new year.
Following the expert advice provided by luxury and fine jewelers Ashley Zhang and Katherine Kim of KATKIM, here are the top five engagement ring trends to know before heading to the jewelry store to purchase your future spouse’s sparkler.
Heirloom Stones
There’s something incredibly special about jewelry that has been passed down from generation to generation, which is why heirloom pieces are always a top choice for wedding accessories—especially engagement rings. Not only do they provide a sentimental touch, but they also come with a slew of positive characteristics that many pieces of jewelry don’t typically offer. “Heirloom stones offer the opportunity for customization and personalization,” Kim says. “Many of our clients enjoy the idea of taking a family heirloom and incorporating it into a new, personalized design, combining the sentimental value of the heirloom stone with their own individual flair.”
What’s more, heirloom stones are a lovely option for those seeking to lessen their carbon footprint; they offer a sustainable option for those who are environmentally conscious. According to Zhang, couples who favor ethical and sustainable pieces typically gravitate towards heirloom pieces, since these stones are, by definition, recycled from one generation to the next. “Using an heirloom, recycled, or repurposed stone has the least social and environmental impact,” she adds. Not to mention, engagement rings with these stones can serve as your “something old” on the big day.
Solitaire Settings
What do Kourtney Kardashian, Scarlett Johansson, and Cardi B have in common? All three celebrities sport solitaire engagement rings of various styles—a trend that will continue to remain popular in 2024. “Solitaire settings have stood the test of time and continue to be timeless classics,” shares Kim. “Their simple, yet elegant, silhouette showcases the beauty of the single center stone, creating a focal point that exudes sophistication and understated beauty.” Though this setting has been around for decades, its universal aesthetic has yet to go out of style, specifically since many jewelers continue to find new ways to reinvent this engagement ring design. Kim’s Floating Diamond Trace Ring and Oval Crescendo Flare Ring are just two prime examples of this ongoing trend.
Diamond Alternatives
When you think of engagement rings, your mind might go straight to diamonds in various shapes and styles. But did you know that these sparklers don’t need to have diamond stones? In fact, experts predict that diamond alternative engagement rings—pieces that include gemstones like rubies, sapphires, emeralds, and white topaz, among others—will become even more popular this year.
“Colored gemstones with diamond accents were very popular in 2023 and will continue in 2024,” shares Zhang. “These gemstones can be just as high in value as diamonds depending on the quality, and can be a unique way to showcase your own personal style while still being set in a simple and clean design.”
Kim echoes that sentiment, adding that a diamond alternative has the ability to bring sentimental value to every type of engagement ring. “Each gemstone carries its unique symbolism, making them more personal and meaningful choices for engagement rings,” she shares. “They add an emotional depth to the ring’s significance and the allure of these colorful stones appeals to those seeking a departure from traditional white diamonds.”
Ring Stacks
Why wear one ring when you can wear two or three? Luckily, the world is your oyster in 2024, as ring stacks will be one of the trends to consider—providing you with the option to wear multiple pieces to showcase your love. “The trend of ring stacking provides versatility, so I feel that its popularity will continue into 2024,” says Kim. “Brides can curate their collection over time, allowing for flexibility in creating different combinations or looks, and each additional ring in a stack can symbolize significant milestones or memorable events.”
As for what types of rings to stack in the new year? That will depend on your personal preferences, though Kim notes that “these stacks can often incorporate anniversary bands, family heirlooms, or birthstone rings, allowing brides to carry sentimental and meaningful pieces on their hand.
Unique Designs
Similar to diamond alternative engagement rings, soon-to-be-weds are expected to lean into their personal styles by opting for unique engagement ring designs that defy tradition (think: bezel settings, Art-Deco designs, and nontraditional diamond shapes, like trillion and hexagon stones).
Zhang also expects to see marriers sport rings with heavier and thicker metal bands, while Kim foresees a continued interest in reimagined ring band designs. “A majority of our clients are seeking personalization in their forever pieces and a unique design makes it truly theirs,” she shares. “These are designs that go beyond the traditional circular band or solitaire diamond ring, like our Trace and Crescendo collection.”
Our special thanks to Brides and Corinne Pierre-Louis for this extremely informative, and well written article
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