SOUTH AFRICAN KRUGERRAND

The Krugerrand is the first gold bullion coin minted for investment and is the most widely owned gold coin. This was the first gold coin to contain precisely 1 ounce of gold and was intended to provide a vehicle for the private ownership of gold.

The obverse, designed by O. Schultz, features the first President of the South African Republic, Paul Kruger.

Due to South Africas relationship with apartheid, these coins are the least expensive of all the major gold bullion coins. Kruger is surrounded by the name of his nation in Afrikaans and English, two of South Africas eleven official languages: SUID-AFRIKA SOUTH AFRICA. A springbok (a South African antelope) prances across the reverse, as designed by C.L. Steynberg. This side also lists the date of issue and the amount and purity of the gold. Interestingly, the Krugerrand does not carry a face value, as it is primarily minted for trading outside South Africa.

Each Krugerrand is minted using approximately 91 2/3 parts gold and 8 1/3 parts copper. The Mint is never at a loss for gold as South Africa is the worlds biggest producer of the yellow metal. The official South African Mint has undergone many changes over the years and was privatized in 1988. The South African Mint Company (Pty) Ltd. was established that year as a full subsidiary of the SA Reserve Bank.