The Krugerrand turns 50
Krugerrands were mass produced to enable the ‘man in the street’ to purchase gold easily and with confidence. During 1967-1969, around 40 000 coins were minted each year. In 1970, the number rose to over 200 000 coins. More than one million coins were produced in 1974, and in 1978, a total of six million were produced. In 1980, the
(½ oz, oz and 1/10 oz) were added to the one ounce Krugerrand so the smaller buyer could buy gold at an affordable price
The was designed by Otto Schultz. It depicts the profile of Paul Kruger with ‘SUID-AFRIKA • SOUTH AFRICA’ in the legend The Krugerrand is 32.77mm in diameter and 2.84mm thick. The Krugerrand’s actual weight is 1.0909 troy ounces (33.93g). It is minted from gold alloy that is 91.67% pure (22-carats). The remaining 8.33% of the coin’s weight (2.826 g) is copper, which gives the Krugerrand a more orange appearance than silveralloyed gold coins.
Copper alloy coins are harder and more durable, so they can resist scratches and dents
The coin is so named because the Kruger was president of the South African Republic (or Transvaal) from 1883 to 1900
The was designed by Coert Steynberg. It has a springbok antelope with the mint date in the field. The legend is inscribed with ‘KRUGERRAND’ and the gold weight
obverse bears the face of
(left), four-term president of the old South African Republic.
The reverse depicts a springbok, one of the national symbols of SA. The image was previously used on the reverse of the earlier South African five shilling coin. The words ‘South Africa’ and the gold content are inscribed in both Afrikaans and English. The word ‘Krugerrand’ is a registered trademark owned by Rand Refinery Limited, of Germiston The rand takes its name from the Witwatersrand, the ridge where most of SA's gold deposits were found
reverse THOUSAND RAND PER OUNCE
To celebrate the enduring value and 50th anniversary of the traditional known and trusted Krugerrand, the SA Mint decided to produce the legendary icon in another metal.
This is the first time a Krugerrand is issued in silver. Due to legislation, and because it is non gold, the one ounce fine-silver Proof Krugerrand features a denomination of R1.
The silver coins can be ordered from the SA Mint, with a one ounce fine Krugerrand prices over the years
During the late 1960s and early 1970s, SA’s annual gold mine output averaged 75% of total output in the western world. Following the final collapse of the gold standard in 1971, the promotion of gold was considered vital.
The chosen vehicle to drive the demand was the Krugerrand, which was developed by the Chamber of Mines of SA, working closely with the SA Reserve Bank and the SA Mint.
The first 22-carat gold Krugerrand was minted on 3 July 1967 by the SA Mint. Dr John Edward Holloway