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First minted in 1967, more than 48 million ounces now circulate the globe making the gold Krugerrand one of the most well known coins in the world. The South African Krugerrand is a low-premium bullion coin, which provides an affordable option for investing in gold.
Gold Krugerrand coins are minted in 22k fine gold, or .91.67% pure. The one-ounce Krugerrand coin has a physical weight of 1.0909 troy ounces, but has an actual gold weight of exactly 1.0 troy ounce. They are produced in 4 denominations, which contain exactly one ounce, ½ ounce, ¼ ounce, and 1/10 ounce of actual gold weight. To allow more durability for trade, the Krugerrand is minted in copper-gold alloy.
The Krugerrand was first introduced in 1967 as a means for personal gold ownership and as a way to promote South African gold on the international market. It derives its name from the famous South African President, Paul Kruger, and South African currency, the rand. The Gold Krugerrand was the first one-ounce denominated gold coin ever minted, and has become a popular vehicle for gold investing since its inception by the Chamber of Mines of South Africa.
The obverse of the coin features the effigy of Paul Kruger, the 5th president of the old South African Republic from 1883-1900. The reverse features an image of a springbok, the national animal of South Africa.