History Of The Krugerrand 2018-04-12T00:50:09+00:00

The History Of The Krugerrand


Behind The Krugerrand

The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold.

It was minted in a copper-gold alloy more durable than pure gold.

Economic sanctions against South Africa for its policy of apartheid made the Krugerrand an illegal import in many Western countries during the 1970s and 1980s.

These sanctions ended when South Africa abandoned apartheid in 1991.

By 1980 the Krugerrand accounted for 90% of the global gold coin market. That year South Africa introduced three smaller coins with a half troy ounce, quarter ounce, and tenth ounce of gold.

Over 50 million ounces of gold Krugerrand coins have been sold since production started in 1967.

Backed by 50 years of experience in crafting the worlds most iconic coin, the 2017 1 oz Krugerrand coin forms the crown piece of any collectors treasury.

Using highly advanced techniques and approaches, these 50th anniversary coins take the traditional craftsmanship of the original Krugerrand bullion coins and amplify it to create our most magnificent coins to date.

The 1 oz Krugerrand coin
The 1 oz Krugerrand coin right side

Variations & Limitations

During the great bull market in gold of the 1970s, the gold Krugerrand quickly became the No.1 choice for investors worldwide wanting to buy gold.

Between 1974 and 1985, it is estimated that 22 million gold Krugerrand coins were imported into the United States alone.

This huge success of the Krugerrand encouraged other gold-producing countries to mint and issue gold bullion coins of their own, including the Canadian Gold Maple Leaf in 1979, the Australian Nugget in 1981, the Chinese Gold Panda in 1982, the American Gold Eagle in 1986, and the British Britannia coin in 1987.

Private mints have also attempted minting gold and silver bullion rounds (the term coin denotes legal currency) in the style of the Krugerrand.

The rounds often depict Paul Kruger and a springbok antelope, some even blatantly copying the design of the Krugerrands themselves, though the inscriptions are altered.

These bullion rounds are not offered by the South African Mint or the Government of South Africa, and are therefore not official, have no legal tender value and cannot technically be considered coins.

The artistic process and craftsmanship behind each coin imbue it with exquisite detail which is then hand packed and encapsulated to ensure mint condition, making it significantly more valuable than the bullion coin.

Proof Krugerrands

The South African Mint produces limited edition proof Krugerrands intended to be collectors’ items rather than bullion investments.

These coins are priced above bullion value, although non-proof Krugerrands also have a premium above gold bullion value.

They can be distinguished from the bullion Krugerrands by the number of serrations on the edge of the coin.

Proof coins have 220 while bullion coins have 160.

1oz Krugerrand gold coin