South African Gold Krugerrand

The Gold Krugerrand is one of the most historically significant gold coins in the world because it was first minted back in 1967, many years before coins like the Gold Panda and Gold Buffalo. The coin was incredibly popular ever since its inception, in fact, in the 1980s the Krugerrand accounted for 90% of gold coins in the world. Minted by the South African Mint, the Krugerrand is offered in 1/10, ¼, ½, and 1 ounce varieties. These coins were so popular that many private metal companies began minting Krugerrand rounds.

This coin once served as the most common currency in South Africa, but because of Apartheid during the 1970s and 80s most Western countries refused to trade with South Africa, but this ended with the fall of Apartheid in 1994. The Krugerrand became the inspiration for coins like the Gold Kangaroo and the Gold Eagle.

Design and Details

The obverse side of the Krugerrand boast the image of Paul Kruger. Kruger was a Boer politician who was president of the South African Republic for four terms. The reverse side of the coin has the image of a Springbok, which is a national symbol of South Africa. The design on the reverse was the idea of Coert Steynberg and was the same image that had been used on the 5 shilling coin. Also on the reverse side is an inscription that reads “South Africa” in both Afrikaans and English.

The Krugerrand is 92% gold or 22 karat gold. It, like many other 22 karat gold coins, has about 8% copper in it to add strength and make the coin more durable and wear-resistant. The coin comes in sizes ranging from 1/10th of an ounce, to a quarter, half, and even one ounce. The diameter of the 1/10th ounce coin is 16.55mm and its thickness is 1.35mm. The quarter ounce Krugerrand has a diameter of 22.06mm and a thickness of 1.888mm. the half ounce coin has a diameter of 27.07mm and a thickness of 2.215mm. The biggest coin, the one ounce variety, has a diameter of 32.77mm and a thickness of 2.84mm.

More About the Gold Krugerrand

Krugerrands are very popular for collectors because they are more or less the “original” gold coin. They laid down the blueprints that many other nations would emulate and are still emulating today. Both reverse and obverse sides of the coin are historically significant to every South African and the beautiful design on the coin does nothing but add value to it.

Investors look to the coin for the gold in it, but because it is only 22 karat as opposed to 24 karat coins, investors are not quite as crazy about the coin as collectors are. Buying a Krugerrand is as easy as shopping online. Sites like Apmex generally tend to try and keep a large stock of these coins because they are so very popular.