South African Gold Krugerrand

South African Gold Krugerrand
The Gold Krugerrand is the gold coin of South Africa. First minted at the South African Mint in 1967, it was the first precious metal coin which could be used as legal tender with a face value determined by the amount of gold bullion contained within.

The Gold Krugerrand is an alloy based coin mixed of gold and copper. It features the image of antelope on one side, and the face of Paul Kruger on the other. It contains 1 troy ounce of gold, but has an actual weight of 1.0909 troy ounces. The added copper works to make the coin harder and durable, and results in a slightly orange hue.

Produced at a low premium of about one percent of the market price of gold, the Gold Krugerrand is a prime example of a gold standard coin. In 1980, several other Gold Krugerrand coin sizes were produced including half, quarter, and tenth ounce gold coins. The Gold Krugerrand is important in the history of modern gold coins. It influenced many world mints to begin producing precious metal coins.

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