Platinum Ounce 2017 Krugerrand, Coin from South Africa - detailed information

Platinum Ounce 2017 Krugerrand, Coin from South Africa
CoinPlatinum Ounce 2017 Krugerrand

The platinum 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 the 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 purity of the platinum version is 99.99% and not 99.95% as that of most other platinum bullion coins by other mints. Unlike the gold coins, the platinum ounce has a face value of 10 Rand.

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.

2017 was the first time that a platinum ounce Krugerrand was issued, as part of the celebration of the 50th anniversary of the Krugerrand coin range. The edition was very limited - 1,967 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 Mintage1,967
Obverse
South Africa / Platinum Ounce 2017 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 / Platinum Ounce 2017 Krugerrand - reverse photo

The reverse shows at its centre a Springbok antelope, the national animal symbol of South Africa, which divides the date: 2017.

Around above, the name of the coin: KRUGERRAND.

Around below, the composition and weight and the face value: 1 OZ PLATINUM R 10 (one ounce platinum, ten rand).

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.

Marking the occasion of the 50th anniversary of the Krugerrand coin range, there is a privy mark in the top left field of the reverse, above the Springbok's back: the inscription 1967 · 2017 50 YEAR ANNIVERSARY in a small circle, with the numeral 50 at its centre.

Reverse Inscription KRUGERRAND 2017 1 OZ PLATINUM R 10
EdgeMilledEdge InscriptionNone
Issued in Set
1967 - 2017 Krugerrand Vintage Five Coin Set, mintage 150
5 coins: 1 oz Gold 1967, 1 oz Gold 2016, 1 oz Gold 2017, 1 oz Silver 2017, 1 oz Platinum 2017
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Platinum Ounce 2017 Krugerrand: Details
CountrySouth Africa
CurrencyRand
Coin TypePlatinum Ounce (1 oz) Krugerrand
Issued2017
SymbolPaul Kruger by Otto Schultz
Face Value10 (x Rand)
Mintage1,967
CurrentYes
Material0.9999 Platinum
DesignerCoert Steynberg, Otto Schultz
TechnologyMilled (machine-made)
ShapeRound
OrientationMedal Alignment (Axis 0)
Size (mm)32.6900
Thickness (mm)2.8400
Mass (g)31.1070
OCC IDLGVB-OLDC-LAZQ-OMPX
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Platinum Ounce 2017 Krugerrand: Photos
ImageDetails
2017 South Africa 1 oz Silver Krugerrand Proof
Copyright: South African Mint
Source
2017 South Africa 1 oz Silver Krugerrand Proof
Copyright: South African Mint
Source