Gold Ounce (1 oz) Krugerrand, Coin Type from South Africa - detailed information

Gold Ounce (1 oz) Krugerrand, Coin Type from South Africa (issued 1967 - )
Coin TypeGold Ounce (1 oz) Krugerrand

The Krugerrand 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. It is the first modern bullion coin.

By 1980, the Krugerrand accounted for 90% of the global gold coin market. 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. During the 1970s and 1980s, some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa, most notably the United States, which was the coin's largest market in 1985.

Production levels of Krugerrands have significantly varied since its introduction. From 1967 to 1969, around 40,000 coins were minted each year. In 1970, the number rose to over 200,000 coins. More than one million coins were produced in 1974, and in 1978 a total of six million were produced. The production dropped to 23,277 coins in 1998 and then increased again, although not reaching previous levels.

Although 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, unlike bullion coins issued by other countries, their legal tender denomination - also known as face value - is not fixed and varies depending on the current price of gold, so is not inscribed on the coin.

Initially, the coin was only issued in one format: one ounce of gold; since September 1980, Krugerrands have also become available in three additional smaller sizes containing half ounce of gold, quarter ounce of gold and one tenth of an ounce of gold. In 2017, the Rand Refinery began minting silver versions, which have the same overall design as the gold coin; these are in two ounces silver and one ounce silver.

On the occasion of the 50th anniversary of the coin range in 2017, it was expanded to also include a platinum ounce, a massive fifty ounces (50 oz) gold coin, five ounces (5 oz) gold, two ounces (2 oz) gold, and two fractional mini-coins, twentieth-ounce (1/20th oz) gold and fiftieth ounce (1/50th oz) gold.

The composition of the gold versions is the same as the British Gold Sovereign coin, being 22-carat gold alloyed with copper (91.67% gold, 8.33% copper), making the coins redder in colour compared to other coins alloyed with silver, as well as harder and more resistant to scratches. The coin is heavier than an ounce, so as to have exactly one ounce actual gold weight (1.000 oz AGW).

Paul Kruger - depicted on the obverse - was affectionately known as "Oom Paul" (uncle Paul), one of the highest designations anyone can be given in South Africa. His portrait was designed long before the Krugerrand was first minted, and was originally used on Boer coins. When the gold finds in Transvaal gave them the opportunity to start minting their own coins, president Kruger requested a law to found a national bank, which also stated that South African money should be modelled after British money. Since the country did not have a mint, they assigned the task of minting the first Zuidafrikaanse Ponde (South African Pond, or Pound) to the Berlin Mint. Thus Berlin medallist Otto Schultz designed them in 1892 and his effigy of Kruger (adapted by by Tommy Sasseen) is still used today.

The reverse of the Krugerrand, designed by Coert Laurens Steynberg in 1967, shows a Springbok antelope, South Africa's national animal.

Obverse
South Africa / Gold Ounce (1 oz) Krugerrand - obverse photo

The obverse of the coin depicts a portrait of Paul Kruger, President of the South African Republic (or Transvaal) from 1883 to 1900, facing left.

Around above, the legend SUID-AFRIKA · SOUTH AFRICA. Suid-Afrika is the name of South Africa in Afrikaans, which was the only official language of the country apart from English at the time the coins were initially issued.

Obverse Inscription SUID-AFRIKA · SOUTH AFRICA
Reverse
South Africa / Gold Ounce (1 oz) Krugerrand - reverse photo

The reverse shows at its centre a Springbok antelope, the national animal symbol of South Africa, which divides the date: [year].

Around above, the name of the coin: KRUGERRAND.

Around below, the composition and weight in Afrikaans and English: FYNGOUD 1 OZ FINE GOLD.

The designer's initials CLS (for Coert Laurens Steynberg) are in the right field between the letters OL of GOLD and the ground under the Springbok.

Reverse Inscription KRUGERRAND [year] FYNGOUD 1 OZ FINE GOLD
EdgeMilledEdge InscriptionNone
Coin Type: Gold Ounce (1 oz) Krugerrand - (57) Coins
Coin NameMintagePortraitLegend
Gold Ounce 1967 Krugerrand 50,000 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1968 Krugerrand 30,000 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1969 Krugerrand 30,000 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1970 Krugerrand 221,018 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1971 Krugerrand 556,200 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1972 Krugerrand 550,325 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1973 Krugerrand 869,300 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1974 Krugerrand 3,209,352 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1975 Krugerrand 4,809,525 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1976 Krugerrand 3,011,545 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1977 Krugerrand 3,339,844 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1978 Krugerrand 6,022,293 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1979 Krugerrand 4,952,555 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1980 Krugerrand 3,061,396 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1981 Krugerrand 3,198,727 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1982 Krugerrand 2,685,466 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1983 Krugerrand 3,368,161 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1984 Krugerrand 2,069,689 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1985 Krugerrand 874,995 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1986 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1987 Krugerrand 111,150 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1988 Krugerrand 619,747 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1989 Krugerrand 199,389 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1990 Krugerrand 394,425 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1991 Krugerrand 285,365 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1992 Krugerrand 3,870 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1993 Krugerrand 166,303 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1994 Krugerrand 131,291 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1995 Krugerrand 60,308 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1996 Krugerrand 12,062 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1997 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1998 Krugerrand 8,276 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 1999 Krugerrand 19,838 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2000 Krugerrand 41,136 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2001 Krugerrand 17,015 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2002 Krugerrand 23,531 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2003 Krugerrand 52,061 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2004 Krugerrand 79,253 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2005 Krugerrand 22,954 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2006 Krugerrand 56,547 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2007 Krugerrand 318,319 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2008 Krugerrand 245,163 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2009 Krugerrand 750,959 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2010 Krugerrand 530,930 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2011 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2012 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2013 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2014 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2015 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2016 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2017 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2018 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2019 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2020 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2021 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2022 Krugerrand 1,800 Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
Gold Ounce 2023 Krugerrand unknown Paul Kruger by Otto Schultz SUID-AFRIKA · SOUTH AFRICA
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Royal Mint
Royal Mint
Gold Ounce (1 oz) Krugerrand: Details
CountrySouth Africa
CurrencyRand
Sub-type ofGold Ounce (1 oz)
From1967
Face ValueVaries (x Rand)
CurrentYes
Material0.9167 Gold
DesignerCoert Steynberg, Otto Schultz
TechnologyMilled (machine-made)
ShapeRound
OrientationMedal Alignment (Axis 0)
Size32.6900 mm
Thickness2.8400 mm
Mass33.9300 g