The Gold South African Krugerrand is the world’s first gold bullion coin and remains one of the most successful gold coins ever minted. Released in 1967, the Krugerrand is an international symbol of wealth and prestige. The obverse features South African Republic’s first president, Paul Kruger. The reverse depicts South Africa’s symbol, the Springbok gazelle.
The Krugerrand has a 22 Karat of pure gold giving it a more durable surface. Has no official face value - they are traded based on the world market price of gold-. The Gold Krugerrand is extremely liquid and easy to trade internationally.
The coin was created as a means for the private ownership of gold bullion by the general public. It was first minted at the South African Mint on July 3, 1967. And the first it was simulated in 1964 as a legal tender bullion coin, that is specified only with its weight in gold.
Gold Krugerrands were so good in marketing that by the early 1980s they held 89% share in market of the entire gold bullion coin industry. The popularity and success of the gold Krugerrand's as a result led to the coinage of gold coins by other nations during the late seventies and mid-eighties. It was specifically designed proof to withstand everyday wear. Its purity is 91.7% gold, with the copper reminder. It gives the gold coin more resistance. The weight of each gold coin is 33.93 grams. The color of the gold coin has an orange tint, which makes it different from the gold coins that have silver alloy.
