South Africa pioneered modern bullion coinage when it first issued the 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 quarter-ounce (1/4 oz) format. The coins are made of Sterling silver (92.5% silver, 7.5% copper) and are slightly heavier than a quarter ounce, so as to have exactly 0.250 oz ASW (Absolute Silver Weight). They are denominated with a face value of 5 cents. |
