1 oz Krugerrand

The 1 oz Krugerrand is one of the world's most recognizable gold bullion coins, first introduced by the South African Mint in 1967. This coin was designed to provide a convenient way for individuals to invest in gold, and it quickly became the standard for gold bullion coins worldwide, setting the stage for other nations to produce their own gold coins.

Why is the Coin Famous?

The 1 oz Krugerrand is notable for several reasons. It was the first gold coin to contain precisely one troy ounce of gold, making it a straightforward investment option. The coin's design, featuring the profile of Paul Kruger, the former President of the South African Republic, on the obverse, and a springbok antelope on the reverse, has become iconic. The Krugerrand gained widespread popularity due to its recognizable design, high gold content, and status as a legal tender coin.

Who Designed the Coin and Why?

The design of the 1 oz Krugerrand was a collaborative effort. The obverse side featuring Paul Kruger was designed by Otto Schultz, while the reverse side, depicting the springbok, was designed by Coert Steynberg. The choice of Paul Kruger was intended to honor a significant figure in South African history, while the springbok symbolizes the natural beauty and wildlife of South Africa. The coin was created to offer a convenient and accessible way for people to invest in gold, contributing to the global spread of gold coin investments.

Coin Specifications and Symbolism

• Weight: 33.93 grams
• Gold Content: 91.67% gold (1 troy oz of pure gold)
• Diameter: 32.77 mm
• Thickness: 2.84 mm
• Edge: Reeded

The 1 oz Krugerrand is composed of 22-karat gold, with an alloy of copper added to enhance its durability and resistance to scratches. This makes it practical for handling and trading. The coin is a striking representation of South African heritage, with its blend of historical and natural elements.

1 oz Krugerrand Coin Value

The value of a 1 oz Krugerrand is primarily determined by the current market price of gold, given its gold content of one troy ounce. However, certain mintage years can carry additional value due to their rarity or historical significance. For example, Krugerrands minted during the early years of production (1967-1979) can be more valuable due to lower mintage numbers and higher demand among collectors. Additionally, coins from specific years where production numbers were significantly lower can also fetch a premium.

The Krugerrand does not typically feature mint marks, which distinguishes it from many other gold coins. Instead, its value is driven by its gold content and, for some collectors, the specific year of mintage. While most Krugerrands trade close to their intrinsic gold value, coins from years with lower mintages or those in exceptional condition can attract higher prices.

The 1 oz Krugerrand remains a popular choice for both investors and collectors due to its established reputation, liquidity, and historical significance. Its design, durability, and gold content make it a trusted and sought-after coin in the global gold market.

1 oz Krugerrand Auctions