SOUTH AFRICA - (1967-PRESENT)
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32.7 mm, 27 mm, 22 mm, 16.5 mm
1967-present (1 oz);
1980-present (1/2 oz, ¼ oz, and 1/10 oz)
ACTUAL GOLD CONTENT
U.S MINT BRANCHES
91.67% Gold, 8.33% Copper
33.93 g, 16.965 g, 8.482 g, 3.93 g
O. Schultz (obverse);
C.L. Steynberg (reverse)
The History of the South African Krugerrand
The Krugerrand is believed to be the most widely owned bullion coin in the world as it was the first bullion coin minted for investment purposes. In 1967 it was first introduced as a channel designed to encourage individuals to own gold. Each and every Krugerrand is minted using approximately 91 2/3 parts gold and 8 1/3 parts copper. Since South Africa is one of the world’s largest gold producers, therefore the South African Mint is rarely at a loss for the metal. In 1988 the official South African Mint became a full subsidiary of the South African Reserve Bank. Because the Krugerrand is primarily minted for trading outside South Africa, the coin does not carry a face value. The Krugerrand’s obverse (front) features the first President of the South African Republic, Paul Kruger. The name of his nation surrounds Kruger in both Afrikaans and English: ‘SUID-AFRIKA’ and ‘SOUTH AFRICA’. These languages represent two of South African’s eleven official languages.
The reverse (back) of the Krugerrand features a South African antelope (a springbok) prancing with the coin name at the top, ‘KRUGERRAND’. The date of issue and the amount and purity of the gold is listed on the reverse, as well.