The South African Krugerrand is a portmanteau of President Paul Kruger surname and “rand,” which is South Africa’s official currency. The gold Krugerrand is durable, contains high purity gold and is considered a prized possession for investors and collectors.
Continue reading to learn more about the history and value of the South African Krugerrand.
DESIGN
The front of the Krugerrand shows a portrait of Paul Kruger, a president of South Africa who served four terms in office. Around the portrait reads “South Africa” in both English and Afrikaans, a language of South Africa.
Designer: Otto Schultz
On the back side of the Krugerrand, the design features a springbok, an antelope that is considered a symbol of South Africa. On the top of the springbok, the coin’s name is inscribed.
Designer: Coert Steynberg
HISTORY
The South African Krugerrand was first released in 1967. It was released in order to allow citizens the chance to own gold and was first used as currency. This is why the coin’s gold is more durable than other gold coins. Now, the Krugerrand is rarely used as currency since its gold is considered a valuable investment.
The Krugerrand was very successful, and it inspired other countries to create their own valuable gold coins including Canada and the United States.
FACTS
Country
South Africa
Mint
South African Mint
Metal
22 karat gold
Weight
33.930 grams
Diameter
32.77 millimeters
Thickness
2.84 millimeters
Date Issued
Minted annually since 1967
Face Value
No face value denomination