Gold Krugerrand Coins

Facts at a Glance

  • The South African Krugerrand, the world’s first national bullion coin, was introduced in 1967, named after President Paul Kruger and the official South African currency unit, the rand, and set the trend for other countries to issue their own bullion coins.
  • The Krugerrand, designed primarily as an investment vehicle, held the distinction of being legal tender for use in South Africa, setting it apart from other bullion coins.
  • The obverse of the coin features a portrait of Paul Kruger by artist Otto Schulz, while the reverse showcases a springbok, a symbol of South Africa, designed by Coert Steynberg.
  • During the apartheid era, rounds imitating the Krugerrand were produced, but as they were not issued by the Mint of South Africa, they had no legal tender value.
  • Since September 1980, the Krugerrand has been available in additional sizes, including 1/2 ounce, 1/4 ounce, and 1/10 ounce of gold, expanding its appeal to a wider range of investors.
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Description

The first national bullion coin in the world, the South African Krugerrand coin was first issued in 1967 to demonstrate the quality of that country’s gold. The Krugerrand is named after Paul Kruger, the 5th president of South Africa and war hero of the Second Boer War, and the rand, the official South African currency unit. The coin was such a wild success that other countries followed suit, issuing their own bullion coins. Canada (Gold Maple Leaf), Australia, China, the United States (American Gold Eagle) and Great Britain all issued their first bullion coins in the late 1970s through the 1980s.

The Krugerrand stands alone in one important regard: Although it was meant primarily as an investment vehicle, it was also issued as legal tender for use in South Africa.

The obverse of the coin depicts a portrait of Paul Kruger, designed by artist Otto Schulz. On the reverse of the coin is a springbok, a gazelle often used as a symbol of South Africa, which was designed by Coert Steynberg.

As the pace setter for bullion coins, the Krugerrand was often imitated by the pressing of rounds.
However, as these rounds are not issued by the Mint of South Africa, they hold no value as legal tender. They became most common during the height of the embargo against South Africa for its practice of apartheid. During that time, the Canadian Gold Maple Leaf surged in popularity and value.

Since September 1980, the Krugerrand has been made available in three additional sizes containing 1/2 ounce, 1/4 ounce and 1/10 ounce of gold.

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To learn more about the South African Gold Krugerrand and to get current pricing, please call us at (800) 355-2116

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Specifications

Mint dates: 1967-present
Designer: Obverse, Otto Schultz; Reverse,
Coert Steynberg
Gross weight: 1.0909 troy oz (33.93 g)
Gold content: 1 troy oz
Composition: 91.67% gold, 8.33% copper
Diameter: 32.6 mm (1.28 in)

Please note, Birch Gold’s selection of products rotates over time. To learn more about South African Krugerrands, their availability and current pricing, please call us at (800) 355-2116.

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