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

Silver Ounce (1 oz) Krugerrand, Coin Type from South Africa (issued 2017 - )
Coin TypeSilver Ounce (1 oz) Krugerrand

The silver one ounce (1 oz) Krugerrand coin is part of the extensive range of Krugerrand coins which has its beginning in 1967 and is produced by Rand Refinery together with the South African Mint. The original (one ounce gold) Krugerrand is the first modern bullion 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.

Unlike the gold versions, the silver coins have a fixed face value; the silver ounce is denominated as One Rand (R1).

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 / Silver 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 / Silver 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 and the face value: FYNSILWER 1 OZ FINE SILVER R1.

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

Reverse Inscription KRUGERRAND [year] FYNSILWER 1 OZ FINE SILVER R1
EdgeMilledEdge InscriptionNone
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Silver Ounce (1 oz) Krugerrand: Details
CountrySouth Africa
CurrencyRand
Sub-type ofSilver Ounce (1 oz)
From2017
Face Value1 (x Rand)
CurrentYes
Material0.999 Silver
DesignerCoert Steynberg, Otto Schultz
TechnologyMilled (machine-made)
ShapeRound
OrientationMedal Alignment (Axis 0)
Size38.725 mm
Mass31.107 g