Įconomic sanctions against South Africa for its policy of apartheid made the Krugerrand an illegal import in many Western countries during the 1970s and 1980s, with the United States, which had historically been the largest market for the coin, banning imports in 1985: the previous year, over US$600 million of Krugerrands had been marketed in the country. That year, South Africa introduced three smaller coins containing 1⁄ 2, 1⁄ 4, and 1⁄ 10 troy ounce (15.6, 7.8, and 3.1 g) of gold. By 1980 the Krugerrand accounted for 90% of the global gold coin market. It was minted in a copper-gold alloy more durable than pure gold. The Krugerrand was introduced in 1967 as a vehicle for private ownership of gold. History 2022 South Africa 1 oz silver Krugerrand obverse

In 2017, the Rand Refinery began minting silver versions, which have the same overall design as the gold coin. Īlthough gold Krugerrand coins have no face value, they are considered legal tender in South Africa by the South African Reserve Bank Act (SARBA) of 1989. However, during the 1980s and 1990s, Krugerrands fell out of favor as some Western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa. On the reverse side of the Krugerrand is a pronking springbok, South Africa's national animal.īy 1980 the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for investors buying gold. The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and rand, the South African unit of currency.

The Krugerrand ( / ˈ k r uː ɡ ə r æ n d/ Afrikaans: ) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The legend is inscribed with 'KRUGERRAND' and the gold weight. SOUTH AFRICA' in the legendġ947 by Coert Steynberg – A pronking springbok antelope with the mint date in the field.

1892 by Otto Schultz – Profile of Paul Kruger with 'SUID‑AFRIKA

Weight of gold coins