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Gold Kruggerand

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About the South African Gold Krugerrand Coin

The most popular South African Gold coin among 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 1970s and 1980s, some countries forbade the import of Gold Krugerrands because of their association with the apartheid 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 depicted on its obverse side, Paul Kruger, and “rand” which is the name of South Africa’s unit of currency, which comes from Witwatersrand, the place where gold was discovered in 1886. The production levels of these impressive gold coins varies each year.

At the beginning around 40,000 of these coins were manufactured, yet by 1970, over 200,000 coins were being released yearly. The mintage amount rose up to one million coins in 1974. However, because of the apartheid associations, the production dropped to about 23,000 coins in 1998 and has leveled up since then, but never reached the high levels again. Since the release of the coin, over 50 million Gold Krugerrands have been minted. These historically designed coins are recognized all around the world as a symbol of the luxury and prestige in gold private ownership, being 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 ounce sizes. Later, in 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. Also, this is the reason why the Gold Krugerrand has a slightly more orange color than regular silver-alloyed gold coins.

The Design of the South African Gold Krugerrand Coin

The incredible historical design of the Gold Krugerrands has received several prizes all over the world. On the obverse side of the coin is depicted 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 the most famous South African national symbol, the springbok antelope in its rich natural heritage of dry savannahs. The springbok is also the icon of the South African’s rugby team. The reverse design of the coin was created by Coert Steynberg, being previously used for 1947 issues of the 5-shilling coin, which celebrated the visit of the British Royal Family in 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 do not hesitate to contact us at 800.852.6884. You can also reach Bullion Exchanges customer service associates online through use of our live chat feature, or by email at info@bullionexchanges.com.

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