South Africa pioneered modern bullion coinage when it first issued the gold Krugerrand on 3 July 1967 to help market South African gold; it is the first modern bullion coin and is still issued today.
Gradually, the South African Mint started diversifying the range, first by issuing fractional Krugerrands, then by introducing different designs and metals, such as a silver five-ounce (5 oz) format. It was introduced in 2021 for the Big Five coin range, with the first issue being the Elephant.
The coins contain exactly five ounces of pure silver, or 5oz Absolute Silver Weight (5.000 oz ASW). | 
