Gold Krugerrand Specifications & History

The Krugerrand (or Kruger for short) is a South African gold coin produced by the South African Mint. Introduced on 3 July 1967 in order to help market South African gold, and four decades later following much competition from other bullion coins, the Krugerrand is still holding its own as one of the most recognisable and saleable bullion coins on the market. To date over 48,000,000 troy ounces of fine gold contained in Krugerrands has been sold. Rand Refinery Limited, producers of the blanks for the Kruger and also marketers of the coins, equates this to more Krugerrands in circulation internationally than all other Gold bullion coins combined.

Between 1970 and 1979 the Krugerrand was the only one ounce denominated gold bullion coin available to the international market. Its success, dominating the gold coin market by 1980, led to other gold-producing countries also issuing their own bullion coins and as a result the "Kruger" earned the title of the world's first bullion coin!

The coins have legal tender status in South Africa, which allows them to be easily imported into most countries. Economic sanctions against South Africa in the 1970s and 1980s made the Krugerrand an illegal import in many western countries. Whilst they carry legal tender status, Krugerrands do not have a Currency face value on them like many of their counterparts.

On the obverse side of the coin the face of Paul Kruger is shown. He was a famous Boer resistance leader who fought against Great Britain and also the fifth as well as the last president of the South African Republic, holding office for four terms. Paul Kruger was also a nature conservationist. The coin takes its name from the combination of “Kruger” and “Rand” (the national currency of South Africa) – the Krugerrand.

On the reverse is a Springbok (one of the national symbols of South Africa). The image was designed by Coert Steynberg and was used on the reverse of the earlier South African five shilling coin. The word “South Africa” and the gold content are inscribed on the obverse side of the coin in both Afrikaans and English.

Gold Krugerrand Technical Specifications


Size Total
Weight
(g)
Fineness
/1.000
Gold
Content
(T oz)
Gold
Content
(g)
Min
Diameter
(mm)
Max
Diameter
(mm)
Min
Thick
(mm)
Max
Thick
(mm)
Edge
Milling
Full33.930.9171.0031.10332.6132.772.742.84180
Half16.965.9170.5015.55226.9327.072.1152.215150
Quarter8.482.9170.257.77621.9422.061.7881.888140
Tenth3.393.9170.103.11016.4516.551.251.35115


A full Krugerrand contains 1 Troy Ounce of pure Gold. Because pure gold, known as fine or 24 carat gold, is very soft, the Gold in a Krugerrand is alloyed with copper, to make 22 carat "crown gold", which is the same alloy used in British Gold Sovereigns. This makes the coin much more durable and scratch resistant. To compensate for the diluted 22 karrat gold content, the overall weight of a Krugerrand is slightly heavier than 1 ounce so that the overall pure gold content is 1 troy ounce. This is why a Krugerrand, when placed next to another Bullion coin of 24 carat, or .9999 gold (such as a Gold Maple) will often appear more orange in colour.

Krugerrands were originally produced in 1 ounce versions, but fractions of Half Ounce, Quarter Ounce and One Tenth Ounce are also minted. These additional sizes became available 1980.

Compare Gold Krugerrand Price and Premiums 0.257 oz Gold Coin GBP | 1 oz Gold Coin GBP | 1/10 oz Gold Coin USD | 1 oz Gold Coin USD | 1/10 oz Gold Coin GBP | 1/10 oz Gold Eagle USD | 1/4 oz Gold Coin GBP | 1/10 oz Gold Coin EUR | 1 oz Gold Coin EUR | 1 oz Gold Krugerrand GBP


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