The Difference Between Bullion and Proof Krugerrand



Bullion Coin

The bullion Krugerrand coin is a legal tender gold coin that is the only coin worth its weight in gold. The bullion Krugerrand contains 11/12 24 karat gold and 1/12 copper, and comes in four sizes, including 1oz, 1/2oz, 1/4oz and 1/10oz pure gold.

The Krugerrand bullion is the most widely traded coin in the world, as it is a trusted bullion coin.

Matte Finish -

Single Struck -

Intended To Be Touched And Handled -

Scratches Don't Affect The Value -

Not Easy To Scratch Them -

Stackable -

No Fixed Yearly Mintage -

180 Serrations -

Rounded At The Edge -

Universal Bullion Price -

Attracts Capital Gains Tax -

Proof Coin

The Krugerrand proof coin is a collectors coin that showcases the fine craft, design and technique corresponding to the original bullion coin. Proof coins are pressed several times with a lower weight, transferring each detail impeccably. A proof coin is hand-packed and encapsulated to ensure the mint condition is maintained.

Fifty years after it was first minted, the demand to own gold has helped to increase the sale and trade of gold Krugerrand coins.

- Mirror-Like Frosted Finish

- Double Struck

- Not Intended To Be Touched By Hand

- Scratches Will Affect The Value

- Easy To Damage The Coins

- Not Stackable

- Yearly Limited Mintage

- 220 Serrations

- Very Sharp Sides

- Added Numismatic Value

- Does Not Attract Capital Gains Tax

- High Quality Coin


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The Story Behind the Coin

July 1967 saw the very first Krugerrand minted. The bullion coin was minted as a way to market South African gold globally and to afford the population with the opportunity to own gold privately. While it contained one troy ounce of pure gold, the Krugerrand was the very first ounce denominated gold coin in the world.


The Krugerrand was minted in a copper-gold alloy, making it more durable than pure gold and was the first choice for people buying gold in 1980, making up more than 90% of the global coin market. However, during this time, the Krugerrand became unfavourable with some Western countries who forbade any imports with the apartheid government of South Africa. By 1991 sanctions were lifted after the end of apartheid and the world began to re-embrace the Krugerrand and favour it as a was to secure their fortune. 


During 1974 - 1985, approximately 22 million gold Krugerrand coins were imported into the United States of America. The success of the Krugerrand struck a note amongst many countries who were inspired to create their own gold bullion coins, such as the American Gold Eagle, the Canadian Gold Maple Leaf, the Australian Nugget, the British Britannia Coin and the Chinese Gold Panda.

While production of Krugerrands has varied over the years, there are currently over 60 million ounces of gold Krugerrands that have been sold since the introduction of the bullion coin in 1967, proving that the Krugerrand is a trusted and durable coin, designed to build value over time. For these reasons, the Krugerrand is the choice coin for collectors and investors. 


While the Krugerrand has no face value these coins are considered to be legal tender in South Africa by the South African Reserve Bank Act.


For decades the Krugerrand has been the bullion of choice, as a way to secure peace of mind for financial stability and as a coin suited to collecting. With a durable formation, timeless design, proven tradability and reliability and global liquidity, the Krugerrand has proven to stand the test of time. It is an iconic, recognisable and celebrated brand and product worldwide. The Krugerrand offers tangible peace-of-mind during uncertain times, providing financial security at any given time. 


The Krugerrand was named in honour of four-term president of the former South African Republic Paul Kruger, together with the South African currency term “rands”. 


Krugerrands contain 1 troy ounce of fine (24 karat) gold and are available in 1oz, 1/2oz, 1/4 oz or 1/10oz for both Bullion and Proof coins. 

Design Aspects of the Krugerrand Coin

Paul Kruger, South African president from 1883 -1900 is depicted on the obverse side of the coin, designed by Berlin medallist Otto Schultz.


While the reverse side shows South Africa’s national animal, the springbok, which was designed by South African sculptor Coert Steynberg. The springbok is known for its jumping abilities, which are displayed in its portrayal on the coin’s design. This springbok design was also previously showcased on the reverse of the South African five shilling coin. The aloe claviflora is one of South Africa’s most well known aloes. This plant is commonly found in the dry veld areas of South Africa, where springbok are found too. 


Suid Afrika and South Africa appear on the coin, together with the gold weighted value.