South African Krugerrand

1967-Present • South Africa • Bullion (no face value)

About This Coin

The Krugerrand was the world's first modern gold bullion coin, designed to help market South African gold. It features Paul Kruger on the obverse and the Springbok antelope on the reverse.

Specifications

Composition

22 karat gold (91.67% gold, 8.33% copper)

Weight

33.93 grams (1 oz gold content)

Diameter

32.77 mm

Edge

Reeded

Designer

Otto Schultz (Kruger portrait), Coert Steynberg (Springbok)

Mintage

Varies by year (millions produced)

Estimated Values by Condition

Condition	Estimated Value
Poor (P)	Gold spot price
Good (G)	Gold spot + 2-5%
Fine (F)	Gold spot + 3-6%
Very Fine (VF)	Gold spot + 4-8%
Extremely Fine (EF/XF)	Gold spot + 5-10%
Uncirculated (MS)	Gold spot + 8-15%

* Values are estimates based on market data and may vary significantly based on specific condition, mint mark, and market demand.

Identification Tips

The coin should weigh exactly 33.93 grams. Look for the date on the obverse below Kruger's portrait. The name "KRUGERRAND" appears on the reverse. Check for reeding on the edge. Krugerrands are non-magnetic.

Historical Context

Introduced in 1967 by the South African Mint, the Krugerrand revolutionized gold ownership by creating the first modern bullion coin intended for investment rather than circulation. It dominated the global gold coin market until sanctions during apartheid. Production continues today with over 60 million ounces produced.

Notable Varieties

1/10 oz
1/4 oz
1/2 oz
1 oz (standard)
Proof versions

Frequently Asked Questions

Does a Krugerrand have a face value?

No, the Krugerrand is a bullion coin with no face value. Its value is based purely on its gold content (1 troy ounce) and the current spot price of gold plus a small premium.

Why is the Krugerrand reddish in color?

The Krugerrand is made from 22 karat gold (91.67% gold, 8.33% copper). The copper alloy gives it a distinctive reddish tint and makes it more durable than pure 24 karat gold, which is too soft for handling.