1 troy oz gold South African Krugerrand coins was first conceptualized in 1964 as a legal tender bullion coin marked only with its weight in gold. The coin was created as a means for the private ownership of South African gold bullion coins by the general public and was first minted at the South African Mint on July 3, 1967. (Krugerrand Value)
Composition and Design
Gold Krugerrands are designed to be durable and are therefore .9170, or 91.7% gold, with the remainder being copper. These popular gold coins also appears closer to an orange shade than coins alloyed with silver. Each one-ounce coin weighs 33.93 grams (consisting of 31.1 grams pure gold and 2.83 grams copper).
The Krugerrand coin determines its value by its gold content plus a premium that is dictated by market conditions. (Gold Price per ounce)
The bullion gold coin from South Africa gets its’ name from a combination of the first Boer president of the South African Republic, Paul Kruger, and the name of currency from South Africa, the rand.
Paul Kruger (obverse) – The coin features the former President of the old Republic of South Africa from 1883-1900, on the obverse of the coin.
African antelope-gazelle (reverse) – The springbok, a famous national symbol of the South African Republic, is on the reverse. The words “South Africa” and “fine gold” are displayed in both English and Afrikaans. (Krugerrand Value)
Gold Krugerrand Sizes
The South Africa Gold Krugerrand coin is one of the most widely owned gold coins to date, with sales of over 50 million ounces since inception.