Mint dates: 1967-present
Designer: Obverse, Otto Schultz; Reverse, Coert Steynberg
Gross weight: 1.0909 troy oz (33.93 g)
Gold content: 1 troy oz
Composition: 91.67% gold, 8.33% copper
Diameter: 32.6 mm (1.28 in)
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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.
Here are some interesting facts about this world-renowned coin:
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