Gold Krugerrands

The Gold Krugerrand debuted in 1967 as a means of offering South African gold to the world. In its first three years, just 40,000 coins were struck, but that number more than quintupled in 1970. The coin rose in prominence over the next decade plus, accounting for all but 10% of the globe’s world coin market. Although production dropped in the 1980s and 1990s as more countries began issuing gold coins of their own, the Gold Krugerrand retains its status as the grandfather of modern gold bullion. The coins are also struck as proofs, giving collectors the opportunity to appreciate the stunning beauty of its designs with a special finish. Keep reading below to learn more about the coin that started it all, and to pick up one of these quintessential Gold Krugerrands for your collection.

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Designs of the Krugerrand

The series takes its name from Paul Kruger, the third President of the South African Republic whose effigy appears on the coin’s obverse. Loved by some and reviled by others, Kruger is undeniably an important figure in the country’s history. He is depicted in left-side profile by Otto Schultz with his characteristic long, thick beard. Flanking him are inscriptions of the issuing country’s name in Afrikaans, “SUID-AFRIKA,” and English, “SOUTH AFRICA.”

On the reverse is a springbok antelope gracefully bounding across the plains. The image was designed by Coert Steynberg. The animal is a symbol of the nation that is so closely associated with it that its international sports teams are often called “the Springboks.” The date flanks the image, while “KRUGERRAND” is inscribed at the top. Inscriptions at the bottom of this face offer the coin’s respective weight and face value.

The Krugerrand and Apartheid

Starting in 1948 and lasting until 1991, South Africa had an infamous policy of apartheid, which openly discriminated against minorities. Many Western countries placed economic sanctions against the nation that included a ban on imports of the coin. Accordingly, the biggest markets for the coin throughout its first quarter century were the Muslim world, Southeast Asia, and Latin American. With the end of apartheid in 1991, sanctions ended, and the coin became available for buyers throughout the West.

1 oz. Gold Krugerrands

For more than a decade, 1 oz. Gold Krugerrand coins were the only size struck. This limited the coin’s availability, as many small buyers were priced out of the market. That changed in September of 1980 when the South African Mint began producing fractional Gold Krugerrands. The new sizes included a 1/10 oz piece, a 1/4 oz piece, and a 1/2 oz piece. With the issuance of these new sizes, the buyer pool for the iconic gold coin expanded dramatically, and production increased accordingly. Had it not been for this expansion, the Gold Krugerrand may not have as high of a standing as it currently enjoys among collectors worldwide.

1/50 oz Gold Krugerrand Coin

In 2017, the South African Mint celebrated the 50^th anniversary of the Krugerrand series. That celebration included the release of the first ever 1/50 oz Gold Krugerrand. Although it was struck as a proof, the small size dramatically expanded the buyer pool by offering a more affordable option than the 1/10 oz piece. The new small proof has become part of the annual series and continues to make it possible for a much larger number of people to participate in the rich tradition of the Gold Krugerrand.