The 1 oz Gold Krugerrand coin was introduced in 1967 and was designed to circulate as a medium of exchange in place of a paper currency. The Krugerrand was minted in 22 karat gold instead of 24 karat gold to make them more durable for circulation and trade.
Gold Krugerrands have no legal face value - they are traded and priced solely on the spot price of gold and current market premiums over spot. The success of the gold Krugerrand inspired the minting of other legal tender coins including the Canadian Gold Maple Leaf
, the Austrian Philharmonic
, and the American Gold Eagle
The Gold Krugerrand is known for its elegant design. The obverse design of the coin was based on Paul Kruger, the four-term president of the South African Republic. The reverse side of the Gold Krugerrand displays the national symbol of South Africa, the Springbok, which was designed by Coert Steynberg.
The Gold Krugerrand is 22 Karat gold with one ounce of gold content per coin. Gold Krugerrands weigh 1.0909 ounces and have 2.826 grams of copper alloy mixed in to give the Krugerrand more durability and resistance from scratches or dents.
Invest in one of these fascinating and beautiful 1 oz Gold Krugerrand coins today!