South African Gold Krugerrand

Gold Krugerrand

Gold Coin Information

The South African Gold Krugerrand was conceived in 1964 as a legal tender gold coin with a value linked to the price of gold. The coins were first struck in 1967 in one ounce gold size. Each coin is struck in 22 karat gold (91.667% gold). The overall weight of the coin is 1.0909 ounces to yield exactly one ounce of gold.

The obverse of the coin features a profile portrait of Paul Kruger with the dual inscriptions “Sud-Afrika” and “South Africa”. The name “Krugerrand” is derived from the name “Kruger” and “Rand” the unit of currency. Paul Kruger was a famous South African President and nature conversationalist. The reverse of the coin features a springbok antelope and the inscriptions “Krugerrand”, “Fyngoud”, “1 oz”, “Fine Gold”, and the date.

The Krugerrand was the first gold coin minted to contain exactly one ounce of gold, which made it immediately popular as a method for investing in gold. The coins were originally sold at a 5% premium above the price of gold and only available in one ounce sizes. Since 1980, the offerings were expanded to other size coins including 1/2 oz, 1/4 oz, and 1/10 oz.

Historically, the South African Gold Krugerrand is one of the best selling gold bullion coins. More than 46 million ounces of gold have been sold in the form of Gold Krugerrands since the coins were first issued. The popularity and convenience paved the way for later gold bullion coins such as the Gold Maple Leaf from Canada and Gold Eagle from the United States.

Coin Specifications

Dates: 1967 – present
Mint: South African Mint Company
Weight: 33,930 grams
Diameter: 32.69 mm
Composition: 91.667% gold, 8.33% copper
Gold Content: 1 ounce

Coins For Sale: Gold Krugerrands