The 1 oz South African Gold Krugerrand is the world's first modern bullion gold coin and remains one of the most popular gold coins ever minted. First released in 1967, the Gold Krugerrand coin is an international symbol of wealth and prestige. Made of durable 22-karat gold this alloy known to historians as crown gold due to its use in English gold sovereign coins, gives the coins their distinctive rich color and grants them a durability that bullion coins of higher purity often lack. The random date 1oz South African gold Krugerrand provides investors the opportunity to acquire gold at a lower price when compared to the current date Krugerrand coins.
The South African Mint and the Rand Refinery
South African Gold Krugerrands are produced at the Rand Refinery in Germiston South Africa, established by the Chamber of Mines in 1920. The Rand Refinery is the world’s largest single site smelting and refining complex in the world. It is important to note that the Rand Refinery is the only refinery in the world that is authorized through the South African Treasury and the Reserve Bank of South Africa to manufacture and supply the gold blanks for Krugerrands.
The South African Gold Krugerrand Bullion Coin
The Gold Krugerrand has dominated the bullion gold market and is considered to be the most widely held and actively traded bullion coin on the market. Not only was the South African Krugerrand the first bullion gold coin to be marketed as a vehicle for private ownership during the 1970s it was also the first gold bullion coin to be minted in exactly 1oz fine gold increments. Developed by the South African Chamber of Mines on behalf of the South African gold mining industry and officially authorized by the South African Reserve Bank, the Krugerrand continues to be one of the most widely produced and recognized gold coin both internationally and domestically, with nearly 46 million ounces produced and distributed worldwide.
Obverse and Reverse
The Gold Krugerrand was designed by Otto Schultz and in 1967. The obverse features the portrait of Boer Statesman Paul Kruger, who was a four-term President of the old South African Republic. “South Africa” as well as the gold content is inscribed in both Afrikaans and English on the obverse of the coin. The reverse, designed by Coert Steynberg, features one of Africa’s national symbols, the Springbok.
Internationally Recognized
Developed solely for gold bullion trade and private ownership the Krugerrand was strategically made in 1oz increments and of 22 karat gold with no face value on the coin, this was done with the idea that, although it is still considered legal tender its value would be more commonly linked to the spot price of gold. The Krugerrand is most noted for its low premium over gold spot price and its ease of liquidation internationally.
Weight/Dimensions/Face Value
The 1 troy ounce Gold Krugerrand coin weighs 1.197 troy ounces (33.930 grams), has a diameter of 32.77 millimeters, and a thickness of 2.84 millimeters
Stock photo only. Dates based on in stock inventory.