Once the largest gold producing country in the world by far, it shouldn’t come as a surprise that South Africa is also home to one of the most treasured gold coins. First issued in 1967, the Gold South African Krugerrand was the first modern 22-karat gold bullion coin on the market. It held this title until Canada issued its first Gold Maple Leaf 12 years later.
This is a one troy-ounce version that contains 22-karat, or .9167, pure gold (a similar “crown gold” alloy like that used by the Gold American Eagle coin, alloyed with 8.3% copper for durability).
The Krugerrand gets its name from Paul Kruger, the famed, long-serving President of the Republic of South Africa, and “Rand” which is the unit of currency in South Africa.
On the obverse (front) side, the Gold South African Krugerrand shows Otto Schultz’s portrait of the Kruger. Surrounding this portrait are the words “SUID-AFRIKA” and “SOUTH AFRICA.”
The reverse (back) side depicts a lively, prancing springbok, a type of gazelle native to South Africa as well as a symbol of the country. This was designed by renowned South African sculptor Coert Steynberg. Accompanying the Springbok are the engravings “KRUGERRAND,” “FYNGOUD 1 OZ FINE GOLD,” the year of mintage, and Steynberg’s initials “CLS.” (“Fyngoud” is Afrikaans for “fine gold.”)
- Weight of 1 troy ounce of gold
- Contains 22-karat gold, or a purity of .9167 pure gold, alloyed with 8.3% copper for durability (which gives it a distinctive red color)
- Legal tender of South Africa despite no face value
- The first of its kind and valued by investors and collectors alike
- Minted by the South African Mint at Centurion, South Africa