Think the Krugerrand was the First Bullion Coin? Think Again! - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

Think the Krugerrand was the First Bullion Coin? Think Again!

blog | Published On by
Think the Krugerrand was the First Bullion Coin? Think Again!


Today in "The Coin Adventurer Corner" I'm going to talk about a neat little bit of synchronicity that occurred today. We recently obtained a few 1 Libra gold coins from Peru. These coins are 22K gold and contain .2355 troy ounces of gold. They caught my eye because one side features a native Peruvian/Incan, which reminded me of the Cacique gold coins of Venezuela.

Then today, I see an article at Numismaster entitled "Gold Bullion Race Started by Peru?". In it, Mark Benvenuto tells the story of how the Peruvian Libra could be considered the world's first bullion coin, 69 years before the Krugerrand was introduced!

The Libra was not a denomination in Peru's circulating coinage at the time. Instead, it was made specifically as an international trade currency, with the same gold content as the British gold sovereign. In fact, the libra was called the "Peruvian pound" in English-speaking countries. While the sovereign was used in international trade, it was minted to be domestic currency for Great Britain and her empire. The Peruvian Libra was made specifically for international trade, in a denomination that did not exist in domestic coinage. It was minted from 1898 to 1930, and then again from 1959 to 1969.

So, to recap: Both the Krugerrand and Libra are made of 22K gold. Both were denominations invented specifically for international/bullion trade. But the Krugerrand debuted in 1967, whereas the Libra was first minted in 1898.

Please check the article out for more fascinating details of this little-known coin, including the 1/2 Libra  and tiny 1/5 Libra.

by The Coin Adventurer

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.