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South African Gold Krugerrand

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The South African gold Krugerrand was minted as a means of selling gold from local mines, starting in 1967.  During the gold bull market of the 1970s, the Krugerrand quickly became the No.1 choice for investors worldwide who wanted to buy physical gold.

Despite the coin being banned by a lot of Western countries, for the next two decades, the gold Krugerrand accounted for nearly 90% of global gold bullion coin sales.

The coin get its name from the portrait of Boer statesman Paul Kruger, four-term president of the old South African Republic that is featured on its obverse.

 

Description

South African Gold Krugerrand Design

Obverse

The obverse of the South African gold Krugerrand contains the profile of Paul Kruger, the fifth president of South Africa.  It also contains the words “SUID-AFRIKA·SOUTH AFRICA” in the legend.  It was designed by Otto Schultz.

Reverse

The reverse of the gold Krugerrand contains a springbok antelope, the national animal of South Africa, with the mint date in the field. The legend is inscribed with “KRUGERRAND” and the gold weight.  It was designed by Coert Steynberg.

Proof

The South African Mint also produces collector proof coins with the same design, only differing on the amount of serrations on the edge of the coin.

South African Gold Krugerrand Specifications

The gold Krugerrand weighs a little more than one full troy ounce (1.0909 oz).  The South African Mint intended this coin to be currency.  However, coins made of pure gold were too soft to bear the effects of circulation.  In order to solve this problem, they made the coins from a gold-copper alloy, giving the coins strength.

The coin has a full troy ounce of gold, with the additional weight being the copper added to the allow.  The copper-gold alloy used to mint the coins gives them a more orange-gold appearance than other gold coins.

Since September 1980, Krugerrands have also become available in three different sizes containing exactly 1/2 ounce, 1/4 ounce and 1/10 ounce of pure gold.

 

Additional information

Weight

One Ounce, One-half ounce, One-quarter ounce

Designer

Otto Schultz (obverse) and Coert Steynberg (reverse)

Metal

91.67% gold, 8.33% copper

Diameter

one ounce: 32.77mm, one-half ounce: 27.07mm, one-quarter ounce: 22.06mm, one-tenth ounce: 16.55mm

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