South African Gold Gold Krugerrand Coins

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South African Gold Krugerrand Coin

The most popular South African Gold coin amongst international gold bullion products is the highly sought-after Gold Krugerrand. The South African Gold Krugerrand was first released in 1967 and quickly became famous among investors and collectors, accounting for about 89% of the international gold coin market by the year 1980. During the 1970s and 1980s, some countries forbade the import of Gold Krugerrands because of their association with the apartheid policy of the South African government. Between 1974 and 1985, over 22 million South African Gold Krugerrand coins were imported to the United States. The name of these South African Gold Coins is a combination between the name of the South African President, Paul Kruger, depicted on its obverse side, and “rand” which is the name of South Africa’s unit of currency. Rand comes from “Witwatersrand”, the place where gold was discovered in 1886. Production levels of these impressive gold coins vary each year.

At the beginning, around 40,000 of these coins were manufactured, but by 1970, over 200,000 coins were being released annually. The mintage rose to one million coins in 1974. However, because of apartheid associations, production dropped to about 23,000 coins in 1998. Since then, Krugerrand mintage has increased but has never reached those peak levels again. Since the release of the coin, over 50 million Gold Krugerrands have been minted. These coins are recognized all around the world as a symbol of the luxury and prestige in private gold ownership, and are also manufactured in proof editions. The South African Krugerrand inspired several other governmental mints, like the United States Mint and the Royal Canadian Mint to issue their own gold bullion coins.

Main Sizes of the South African Gold Krugerrand Coins

When the South African Gold Krugerrand Coins were first introduced by the South African Mint in 1967, they were issued only in 1 troy oz. sizes. By 1980, fractional sizes of ½ oz., ¼ oz. and 1/10 oz. were introduced to the Krugerrand series. All Gold Krugerrands are made of 22-karat .9167 pure gold, with the remaining weight consisting of copper, making them more durable and harder to resist dents and scratches. This unique composition is also the reason why the Gold Krugerrand has a slightly more reddish hue than regular silver-alloyed gold coins.

Design of the South African Gold Krugerrand Coin

The obverse side of the coin displays the portrait of the South African President, Paul Kruger, designed by the well-known engraver Otto Schultz. The reverse side of the coin depicts the image of South Africa’s beloved national symbol, the springbok antelope. The reverse was designed by Coert Steynberg. It was previously used for 1947 issue of the 5-shilling coin, which celebrated the visit of the British Royal Family to South Africa. The coin also contains the inscriptions of its name and the name of the country, in both English and Afrikaans, along with the coin’s purity and weight marks. Gold Krugerrands do not contain any face value engravings because their legal value is based on the gold spot price.   

If you have any questions about these highly desired South African Gold Krugerrand Coins, please feel free to contact us at 800.852.6884. You can also reach our friendly and helpful Bullion Exchanges customer service associates online through the use of our live chat feature, or by email at info@bullionexchanges.com.

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