A Krugerrand is a South African gold coin, first minted in 1967 in order to help to market South African gold. The Krugerrand was the first bullion coin to be tenderable at the market value of its face gold content.
The Krugerrand was the first gold coin to contain precisely one ounce of fine gold, and was intended from the moment of creation to provide a vehicle for the private ownership of gold. However, due to the policy of apartheid in South Africa, the Krugerrand was declared illegal to import in many Western countries during the 1970s and 1980s until that system was lifted between 1990 and 1994.
Since the Krugerrand is minted from gold alloy that is 91.67 percent pure (22 carats), the actual weight of a "one ounce" coin is 1.0909 ounces (33.93 g). The remainder of the coin's mass is made up of copper (2.826 grams), giving the Krugerrand a more orange appearance than silver-alloyed gold coins.
In 1980, three other sizes were introduced, offering a half, quarter, and tenth ounce weights. In total, 54.5 million coins have been sold.
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Size
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Diameter
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Thickness (mm)
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Weight
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Fineness
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Gold Content
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Gold Content
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Edge
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(mm)
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Min/Max
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(g)
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1.000
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(g)
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(Troy Oz.)
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Full
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32.6mm
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2.74/2.84mm
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34.05
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.917
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31.104
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1.0000
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180
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Half
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27.0mm
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2.115/2.215mm
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17.025
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.917
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15.552
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0.5000
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150
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Quarter
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22.0mm
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1.788/1.888mm
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8.5130
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.917
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7.776
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0.2500
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140
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Tenth
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16.5mm
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1.25/1.35mm
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3.4120
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.917
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3.110
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0.1000
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115
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The Krugerrand gets its name from the fact that the obverse shows the face of Paul Kruger, the first president of the old South African Republic.
The reverse depicts a springbok antelope, one of the national symbols of South Africa that was designed by George Kruger Gray
The success of the Krugerrand led to many other gold-producing nations minting their own bullion coins, including the Canadian Gold Maple Leaf and the American Gold Eagle.
Cash for Gold buys Krugerrands, Half Krugerrands, Quarter Krugerrands, Tenth Krugerrands.
