Gold Two Ounces 2018 Krugerrand, Coin from South Africa - detailed information

Gold Two Ounces 2018 Krugerrand, Coin from South Africa
CoinGold Two Ounces 2018 Krugerrand

The two-ounce (2 oz) Krugerrand gold 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.

Although gold Krugerrand coins have no face value, they are considered legal tender in South Africa; 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 this one format: one ounce of gold. The range was gradually expanded though and now includes also a massive fifty ounces (50 oz) gold coin, five ounces (5 oz) gold, two ounces (2 oz) gold, half ounce of gold, quarter ounce of gold, one tenth of an ounce of gold, twentieth-ounce (1/20th oz) gold and fiftieth ounce (1/50th oz) gold, a platinum ounce plus two ounces silver and one ounce silver.

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 two ounces, so as to have exactly two ounces actual gold weight (2 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 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.

2018 was the first time that a two-ounce gold Krugerrand was issued. The edition was very limited - 200 pieces only, and was only issued in Proof FDC grade, in a presentation box with packaging by the South African Mint.

MintRand Refinery Mint MarkNo mint mark Total Mintage200
Obverse
South Africa / Gold Two Ounces 2018 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 Two Ounces 2018 Krugerrand - reverse photo

The reverse shows at its centre a Springbok antelope, the national animal symbol of South Africa, which divides the date: 2018.

Around above, the name of the coin: KRUGERRAND.

Around below, the composition and weight in Afrikaans and English: FYNGOUD 2 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 2018 FYNGOUD 2 OZ FINE GOLD
EdgeMilledEdge InscriptionNone
Gold Two Ounces 2018 Krugerrand: References to Information Used
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Gold Two Ounces 2018 Krugerrand: Details
CountrySouth Africa
CurrencyRand
Coin TypeGold Two Ounces (2 oz) Krugerrand
Issued2018
PortraitPaul Kruger by Otto Schultz
Face ValueVaries (x Rand)
Mintage200
CurrentYes
Material0.917 Gold
DesignerCoert Steynberg, Otto Schultz
TechnologyMilled (machine-made)
ShapeRound
OrientationMedal Alignment (Axis 0)
Size (mm)40
Mass (g)67.8600
OCC IDNXYD-ONZC-WZPX-OVRB
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Gold Two Ounces 2018 Krugerrand: Photos
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Krugerrand 2018 2 oz Gold
Copyright: South African Mint
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Krugerrand 2018 2 oz Gold
Copyright: South African Mint
Source
Krugerrand 2018 2 oz Gold
Copyright: South African Mint
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