Gold: $2006.60  Silver: $22.72  Platinum: $967.00  90% Junk $1 FV: $16.24  Gold/Silver Ratio: 88.32

South African Krugerrands

The Krugerrand gold coin was created by the government of South Africa in 1967 as an investment vehicle to help market and sell more of the country's gold.

By 1980, Krugerrand 1 oz gold coins dominated the global investment market with 90% marketshare.

The 1 oz Silver Krugerrand...

Quick Facts About South African Krugerrands

The Krugerrand coin is named for the former South African President Paul Kruger, who's effigy portrait is reflected in the design. The rand is the name for the South African unit of currency.

Krugerrand Composition

Krugerrands are minted in 1 oz gold and 1 oz silver variations, both are often available as the lowest priced government coin available from online dealers.

Silver Krugerrands contain 1 troy ounce of .999 fine silver. The silver coin is available in a single size and carries the same design as the gold variation.

The gold krugerrand is minted from a 22k gold alloy that mixes 91.67% pure gold with 8.33% copper (cu) added for strength, durability and color. The copper gives the coin its unique orange hue.

Fractional gold Krugerrands are also available in 1/2 oz, 1/4 oz and 1/10 oz weights.

These legal-tender coins are backed by the government of South Africa and are a practical and proven store of value and wealth during an uncertain economy.

Mintage reports show that more than 22 million Krugerrand gold coins were minted prior to 1985 so it's very common to find vintage gold coins from the 1970s and 1980s amongst secondary market and random year coins.

Secondary market 1 oz Krugerrand coins often have one of the lowest premiums compared to most other sovereign coins and is recognized as a legal tender coin under the South African Reserve Bank Act without a nominal face value.

Krugerrand Design

The South African Mint has maintained the same iconic design since the debut.

The obverse was designed by artist Otto Schultz and features a portrait of former President Paul Kruger, who served as the leader from 1883 until 1902. He is most revered for helping bring independence from Britain during colonial times.

The reverse of the coin features a design that stokes the curiosity about the wonders of nature found in the country. The Springbok, an antelope-like mammal that is the national animal.

The animal is shown in stride prancing across the plains in the center of the design field with various inscriptions around the edge of the coin. The design was created and engraved by artist Coert Steynberg.

The inscriptions read:

  • Obverse: "Suid-Afrika" and "South Africa"
  • Reverse: "Krugerrand", "Fyngoud 1 oz Fine Gold", * specific to each denomination, and the mintage year

Krugerrand Mintages

The Krugerrand has been produced for 56 years and annual mintages have shown significant variance.

During the first three mintage years, the South African Mint produces roughly 40,000 1 oz gold Krugerrand coins each year.

The demand for gold krugerrand's in the early years was driven by a two-year long economic recession that occurred in 1969 & 1970.

The 1970 mintage rose to over 200,000 coins as many investors were looking to use gold as a stable store of wealth.

The gold Krugerrand quickly became the number one choice for investors during the bull gold market in the 1970's. As a result, the unique gold coin dominated the international precious metals markets, commanding roughly 90% marketshare.

The oil crisis triggered the next huge wave of demand and in 1974 more than three million Krugerrands were minted and bought by investors as inflation and soaring gas prices wreaked havoc on the economy.

Between 1974-1985 it is estimated that an additional 22 million gold Krugerrand coins were imported into the United States.

The success of the Krugerrand and its mass appeal to investors inspired other countries to start mint and issuing gold bullion coins.

Mintages During Apartheid Sanctions

During the 1970s and 1980s many Western countries enforced economic sanctions that restricted the import of the Krugerrand due to the government's policies of apartheid.

In 1986, Congress imposed economic sanctions that outlawed the import of gold from South Africa and the annual mintage dropped to just 21,040 coins. The law was repealed in 1991.

South African Krugerrands History & Facts

  • First gold coin minted specifically for investors
  • Continually produced since 1967
  • Minted from 22k gold, 91.67% pure with 8.33% copper for durability and strength.
  • More than 50 million ounces of gold Krugerrands have been sold to date
  • The Krugerrand Series is available in both silver and gold

First minted in 1967, the Krugerrand was introduced as the first gold coin intended for private investment. The composition and design of the Krugerrand have remained consistent throughout.

Variations and Denominations

From 1967 until 1979 it was available only as a 1 oz gold coin. Fractional gold Krugerrands were introduced in 1980 with three additional weights, containing 1/2 oz, 1/4 oz and 1/10 troy ounce of gold.

The dimensions of the 1 oz South African Gold Krugerrand is 32.77 mm in diameter and 2.84 mm thick. It is minted from a gold alloy that is 91.67% pure (22 karats) so that the coin contains one troy ounce (31.1035 grams) of gold. The remaining 8.33% of the of the coins weight is copper which gives the Krugerrand its orange appearance. This results in the gross weight being 1.0909 troy ounces or 33.93 grams.

In 1980, the South African Mint began producing gold Krugerrand coins in fractional ounce sizes, containing 1/2 oz (15.5 grams), 1/4 ounce (7.78 grams), and 1/10 ounce (3.11 grams) of pure gold.

Fractional coins are still produced annually along with the one troy ounce. In some years only proof versions of the coins have been minted.

Coin Finishes

Krugerrands are available in both proof and bullion finishes.

Krugerrand Gold Proofs are relatively scarce and highly sought after by collectors. The demand for Proof Krugerrands is continually strong and numismatic investors have seen impressive returns when timing the market.

Silver Krugerrands

In 2017, the Krugerrand 1 oz Silver Coin was introduced with a Premium Uncirculated finish.

The introduction was highly received by both investors and collectors and quickly sold out the entire mintage of 1,000,000 coins.

For Krugerrand collectors, the 2017 Krugerrand Silver 1 oz Proof coins is highly desirable, with a limited mintage of only 10,000 coins.

Silver Krugerrands share the design of the original. The obverse has a portrait of Paul Kruger, the former President and of South Africa who was highly regarded.

The reverse displays the springbok, an antelope-like animal that is native to South Africa and is recognized as a national symbol.

Starting in 2018, the 1 oz Silver Krugerrand became an annually minted bullion coin series. It is minted annually based on the demand from investors. Limited edition proof finish coins are also available and collectors are quick to buy them often at significantly high premiums.

Now that the series has been available for several years, Secondary Market Krugerrands offer a tremendous value when looking for the cheapest government minted silver coin. Because they are often the lowest premium coin, silver Krugerrands are popular with preppers and stackers as a stable store of wealth.

How to buy the cheapest South African Krugerrands compares precious metals prices from trusted and reputable online bullion dealers to help you find the lowest prices on South African Krugerrands. The prices on our site are updated hourly and adjusted for silver spot price. This gives you the tools to compare silver prices.

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