The 1 oz South African Gold Krugerrand is a popular and well-known gold bullion coin that was first introduced in 1967 by the South African Mint. It was developed as a vehicle for private ownership of gold during a time when owning physical gold was restricted in many countries due to currency regulations.
The Krugerrand’s design features imagery that is deeply rooted in South African history and culture. The coin’s obverse (front) side bears the profile portrait of Paul Kruger, the prominent 19th-century Boer leader and president of the South African Republic. The reverse (back) side showcases a springbok antelope, a national symbol of South Africa, bounding across the landscape. The design was created by sculptor Coert Steynberg.
Unlike many other gold bullion coins, the Krugerrand does not have a face value denomination stamped on it. Instead, its value is directly tied to the current market price of gold.
The 1 oz South African Gold Krugerrand contains exactly 1 troy ounce of gold, which is equivalent to approximately 31.1035 grams. It has a diameter of 32.77 millimeters and a thickness of 2.84 millimeters. The coin is made of 22-karat gold, which means it is composed of 91.67% pure gold and 8.33% copper alloy. The inclusion of copper gives the coin a distinctive hue, setting it apart from other pure gold coins.
The South African Gold Krugerrand quickly gained popularity and became one of the most widely recognized and traded gold coins in the world. Its iconic design and historical significance contributed to its success. Over the years, various other sizes, including fractional sizes like 1/2 oz, 1/4 oz, and 1/10 oz, were introduced to cater to different investment preferences and budgets.
JM Bullion customer service is available to assist you with any questions at 800-276-6508. Our team is also available to you online through our web chat and email address feature. Please note that you can visit our Payment Methods page for answers to payment-related questions