Krugerrand 1 oz Gold 2024

Description

The Krugerrand, the world’s most famous and appreciated investment coin. This one-ounce bouillon coin is minted from 916 grade gold with a small admixture of copper (8.333%). The addition of copper contributes to the coin’s increased resistance to scratching and also gives it a unique colour. It is worth noting at the same time that the gold krugerrand is minted in 22-karat gold, with a total weight of 33.93g.

Gold coins with the image of the springbok antelope have been minted continuously since 1967. Initially, they were only produced in one ounce weights, however, since 1980, Krugerrands in 1/2, 1/4 and 1/10 ounce gold weights have been introduced. Interestingly, the name of the gold bullion coin was created by combining the words “Kruger” and “rand” – which is the name of the currency in South Africa.

Krugerrands are produced by South Africa’s Rand Refinery mint. They are a fully fledged means of payment, guaranteed by the South African government as to the legality, purity of the bullion and the origin of the metal. It is interesting to note that although Krugerrands are full-fledged legal tender, having no monetary value. This means that the South African Reserve Bank is obliged to repurchase the coins at the prevailing gold price.

The obverse is decorated with a portrait of the President, Paul Kruger, with the words ‘SUID-AFRICA’ AND ‘SOUTH AFRICA’ above it. The designer of the obverse was Otto Schultz.

Rewers depicts a springbok antelope, the symbol of South Africa. On either side of it are numbers representing the year of minting, with the inscription “Fyngoud 1oz fine gold” underneath, indicating the pure gold content. The reverse was designed by Coert Steynberg.