World bullion series guide
The Complete Silver Krugerrand Guide
Discover South Africa’s flagship silver bullion coin, from the 2017 anniversary issue to the modern one-ounce .999 fine silver annual releases.
Silver Krugerrand quick facts
These are the main details to know before comparing Silver Krugerrands with Britannias, Maple Leafs and American Eagles.
2017First issue
2026Latest annual release
10Years listed
10Coins in the series
.999Fine silver
1 ozSilver content
Latest annual release
2026 1oz Silver Krugerrand Bullion Coin
The newest one-ounce Silver Krugerrand in the annual bullion run, continuing South Africa’s modern silver Krugerrand series.
View latest coin →
| Fact | Silver Krugerrand details |
|---|
| First issued | 2017 anniversary issue; regular bullion from 2018 |
| Country | South Africa |
| Mint / refinery | South African Mint / Rand Refinery |
| Metal | Silver |
| Purity | .999 fine silver |
| Face value | No fixed face value shown on the coin |
| Edge | Reeded |
| UK CGT | Not usually CGT exempt for UK residents |
Why collect Silver Krugerrands?
The Silver Krugerrand combines a short modern date run with one of the most recognisable bullion designs in the world. It suits collectors who like annual silver issues and investors who want a familiar one-ounce bullion coin beyond Britannias and Maple Leafs.
ModernShort annual run
.999Fine silver
IconicSpringbok design
1 ozSimple bullion format
Collector tip The 2017 anniversary issue is especially important because it introduced the Silver Krugerrand before the regular bullion programme became established.
Silver Krugerrand history and timeline
The original Gold Krugerrand was launched in 1967 and became one of the most influential bullion coins ever produced. The Silver Krugerrand arrived much later, giving the historic design a more affordable silver format.
The silver version keeps the same core identity: Paul Kruger on the obverse and the Springbok antelope on the reverse.
2017First Silver Krugerrand issued
The first one-ounce silver Krugerrand appears as part of the 50th anniversary of the original gold coin.
2018Regular bullion production begins
The Silver Krugerrand becomes a regular annual bullion coin struck in .999 fine silver.
2019–2026Modern annual series
The coin continues as a recognisable South African silver bullion series followed by date-run collectors.
OngoingSilver companion to the Gold Krugerrand
The series gives collectors an accessible way to own the Krugerrand design in silver.
Silver Krugerrand design features
The Silver Krugerrand uses the same classic design pairing that made the Gold Krugerrand famous: Paul Kruger on one side and the Springbok antelope on the other.
ObversePaul Kruger portrait
The obverse shows Paul Kruger, the former South African Republic president whose portrait gives the Krugerrand its name.
ReverseSpringbok antelope
The reverse features Coert Steynberg’s Springbok design, one of the most recognisable motifs in modern bullion.
FormatOne-ounce silver bullion
The silver version keeps the Krugerrand identity but presents it in a more affordable one-ounce .999 fine silver format.
How to authenticate a Silver Krugerrand
Silver Krugerrands do not rely on Britannia-style optical security features. Authentication is based on design detail, strike quality, edge, weight, dimensions and buying from trusted sources.
Design detailSpringbok detail
Check the antelope’s horns, legs, body outline and ground detail. Genuine examples should have clean, defined relief.
PortraitPaul Kruger portrait
Inspect the hair, beard, facial outline and lettering. Soft detail or uneven surfaces can be a warning sign.
EdgeReeded edge
The edge should be evenly reeded with no obvious seam, casting line or irregular milling.
LetteringLettering and date
Check the year, legends and silver content text. Lettering should be crisp, evenly spaced and correctly aligned.
Authentication tip Never rely on one visual check alone. Confirm weight, diameter, thickness, edge quality and design detail together.
Buying Silver Krugerrands
Silver Krugerrands are straightforward one-ounce silver bullion coins with strong recognition from the Krugerrand name. They are useful for collectors who want an annual silver run and for investors comparing internationally recognised silver coins.
VATUsually applies in the UK
No CGTexemption for UK residents
1 ozSimple silver format
Short runEasier date collecting
Storage tip Store Silver Krugerrands in tubes, capsules or sealed boxes. Keep silver dry and handle coins by the edge to reduce marks.
Milk spots Like other silver bullion coins, Silver Krugerrands can occasionally develop cosmetic white surface marks. These do not change the silver content.
Silver Krugerrand FAQs
When was the first Silver Krugerrand issued?
The first Silver Krugerrand was issued in 2017 as part of the 50th anniversary of the original Gold Krugerrand.
When did regular Silver Krugerrand bullion production begin?
Regular one-ounce Silver Krugerrand bullion production began in 2018.
Is a Silver Krugerrand pure silver?
It is struck in .999 fine silver and contains one troy ounce of silver.
What design is on the Silver Krugerrand?
The obverse shows Paul Kruger and the reverse shows the Springbok antelope, matching the famous Krugerrand design pairing.
Is the Silver Krugerrand legal tender?
Silver Krugerrands are official South African bullion coins, but they do not show a fixed face value on the coin like many other bullion coins.
Are Silver Krugerrands VAT free in the UK?
No. Silver bullion coins are generally subject to VAT in the UK unless bought through a qualifying storage or dealer structure.
Are Silver Krugerrands CGT exempt in the UK?
No. They are not UK legal tender and are not usually Capital Gains Tax exempt for UK residents.
Do Silver Krugerrands get milk spots?
They can occasionally develop cosmetic white marks like many silver bullion coins. These do not affect silver content.
Is the 2017 Silver Krugerrand special?
Yes. The 2017 issue was the first Silver Krugerrand and was released for the 50th anniversary of the original 1967 Gold Krugerrand.
Should I buy Silver Krugerrands or Silver Britannias?
Britannias have a stronger UK tax profile because they are UK legal tender. Silver Krugerrands appeal for their international recognition and Krugerrand heritage.
Collector verdict
The Silver Krugerrand is a strong choice for collectors who like globally recognised bullion designs and short modern date runs. It does not have the long history of the Gold Krugerrand, but it carries the same visual identity in a more affordable silver format.
For UK buyers, Silver Britannias may be more tax-efficient, but Silver Krugerrands remain an attractive companion series for anyone collecting major international silver bullion coins.
