1 oz Krugerrand | Gold

Information

The Krugerrand is a South African coin in 916.7‰ or 22k carat gold. Issued by the Rand Refinery, for the first time in 1967. With a diameter of 32.77mm and a thickness of 2.84mm, it has no nominal value. It has a gross weight of 33.93g which includes 31.10g of fine gold. The difference in weight is due to the copper content which is a characteristic that gives the Krugerrand excellent conservation properties and gives it a slightly coppery tint. It is the first one-ounce coin of pure gold to have been struck, which probably explains its great worldwide popularity.

History

After a major gold discovery near Johannesburg in 1886, Paul Kruger, with the help of Dutch, German, and British investors, decided to strike his own gold coins. From this association were born in 1892 the State Mint and the National Bank of South Africa which opened in the capital Pretoria. 100 years later, in 1992 the two entities will become the South African Mint (SA Mint) established in Gateway where the current headquarters are located Rand which is the South African currency since 1961, Paul Krugger its president inspired the name of the famous gold coin "Krugerrand" which is of German origin.

Details

The obverse of the coin shows the portrait of the President of South Africa: Stephanus Johannes Paulus known as "Paul Kruger" designed by Otto Schultz. We can read the inscriptions in Afrikaans "SUID AFRIKA" and in English "SOUTH AFRICA"

The reverse which was designed by Coert Steynberg shows a Springbok gazelle which is part of the coat of arms of South Africa. Above the antelope it is written "KRUGERRAND" and at the bottom "FYNGOUD 1 OZ FINE GOLD"

The Krugerrand is very popular with investors thanks to its high demand on world markets. It keeps very well over time thanks to its gold and copper alloy. It has been available since 1980 in the following formats: 1/2 oz, 1/4 oz, 1/10 oz

In 2017, new formats complete an ever-growing range: 50 oz, 5 oz, 1/20 oz, 1/50 oz.