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- Size: 1 oz.
- Purity: 91.67%
- Weight: 33.93 g
- Metal Content: 1.00 oz
- Diameter: 32.70 mm
The world's first gold bullion coin minted for investment, the Krugerrand is believed to be the most widely owned bullion coin in the world. The Krugerrand was first introduced in 1967, as a vehicle designed to encourage individuals to own gold.
Design of the South African Krugerrand - The Krugerrand's obverse (front), designed by O. Schultz, features the first President of the South African Republic, Paul Kruger. Kruger is surrounded by the name of his nation in Afrikaans and English, two of South Africa's eleven official languages: "SUID-AFRIKA ' SOUTH AFRICA."
A springbok (a South African antelope) prances across the reverse (back), as designed by C.L. Steynberg. The reverse also lists the date of issue and the amount and purity of the gold. Interestingly, the Krugerrand does not carry a face value because it is primarily minted for trading outside South Africa.
South African Krugerrand Coin Minting Information - Each Krugerrand is minted using approximately 91 2/3 parts gold and 8 1/3 parts copper. The South African mint is rarely at a loss for gold since South Africa is one of the world's largest gold producers. The official South African Mint has undergone many changes over the years and was privatized in 1988 when it became a full subsidiary of the SA Reserve Bank.