South African Krugerrand

As a forerunner in the precious metals industry, South Africa introduced the Krugerrand in 1967.  It was the first mass-produced gold bullion coin.  Investors worldwide embraced it as an easy way to privately own gold.   The coin was so successful that other countries quickly clamored to issue their own bullion coins.  Canada followed with the Gold Maple Leaf.  Later, Australia, China, the U.S. and Great Britain all started their own coin production.

The Krugerrand played a vital role in the financial history of the world.  It was introduced when the United States, the issuer of the world’s reserve currency, was pursuing inflationary policies.  Concern about the dollar’s viability long term was rising internationally.  And most people, whether individual investors or central bankers, were also very concerned about inflation.

At that time, holding gold bullion as an investment was not legal in the United States.  So the Krugerrand became one of the few practical ways investors could protect their wealth from the ravages of inflation.  As a result, demand for these coins soared.

The success of the Krugerrand Gold coin triggered a global trend in bullion coin production. Following its lead, countries such as Canada, with the Gold Maple Leaf, and Australia, with the Gold Nugget, introduced their own iconic gold coins. The Krugerrand’s influence extended to major economies like China, the United States, and Great Britain, all of which embarked on their coin production journeys.

More Facts About the South African Krugerrand Gold Coin:

• This coin was actually issued as legal tender by South Africa, along with being used for investment.
• The Krugerrand’s unusual name comes from a combination of the fifth president of South Africa (Paul Kruger) with the country’s official currency (the Rand).
• The front (obverse) of the coin features a portrait of Paul Kruger by artist Otto Schulz.
• The reverse includes a springbok, designed by Coert Steynberg. The springbok is a type of gazelle seen as a symbol for South Africa.
• While the 1-ounce South African Gold Krugerrand is the most well-known, this iconic coin comes in various sizes, including 1/2, 1/4, and 1/10 ounces.
• The Krugerrand’s unique composition gives it a distinct reddish-gold color compared to other gold coins, which are typically pure yellow.

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