Knowledge base – GoldAdvert

Gold Krugerrands

Contents

Gold Krugerrands began to be issued in South Africa in 1967, and the coins were named after Paul Kruger, President of the South African Republic (Transvaal Republic). The predecessors of these coins were the Transvaal sovereigns (1925-1932), which also minted by gold. Despite the fact that the South African Krugerrands have official payment status, they are more likely commemorative or investment, since they have a high gold content and correspondingly high cost.

Types of Gold Krugerrand

1/50 Ounce Krugerrand

1/20 Ounce Krugerrand

1/10 Ounce Krugerrand

1/4 Ounce Krugerrand

1/2 Ounce Krugerrand

1 Ounce Krugerrand

2 Ounce Krugerrand

5 Ounce Krugerrand

50 Krugerrands denomination

Circulation of Krugerrands

The first, 1967 edition of the Krugerrands was 40,000 coins and additional 10,000 coins as a proof. During the next two years, 20,000 coins were issued, and in 1970, 211,000 coins. Since 1971, the circulation has increased to 550200 coins, and in 1972 to 543700 coins.

Circulation of 2017-2018

Denomination

Year of Issue

Circulation (pcs.)

1/50

2018

50000

1/50

2017

950

1/20

2017

1900

1/10

2017

3800

1/4

2017

7900

1/2

2017

14500

1

2017

31600

2

2018

200

5

2017

195000

50

2017

1950000

Design development

The portrait of Paul Kruger was created by Otto Schulz, coins’ engraver and sculptor of the Berlin Mint. The first coins for South Africa were minted there in 1892. Schultz’s sketches were used on the obverse of all the Boer coins from 1892 to 1897, and then on the obverse of Krugerrands. Kert Steinberg, South African sculptor developed the sketch of the springbok for the reverse of gold Krugerrands. This antelope is the national animal of South Africa. Tommy Sassen is one of the first South African engravers and sculptors who coped with the task of transferring the sketches of Schulz and Steinberg to the 1967 Krugerrand. The design of Krugerrands has remained unchanged for 50 years. Only coins minted in 2017 have a small anniversary mark with the number “50”.

Obverse

The center of the coin shows the face-side of South African President Stephanus Johannes Paulus Kruger. The inscription “SUID-AFRIKA * SOUTH AFRICA” is engraved above it, and the edge of the coin is decorated with a jagged ornament.

Reverse

In the center of the coin there is a running antelope. Above it there is the inscription “KRUGERRAND”, denoting the name of the coin. The year of mintage is indicated on both sides next to the antelope, and along the bottom edge the information on the coin’s composition and weight in ounces is engraved. The edge of the coin is also decorated with a jagged ornament. On coins of 2017 in the left upper part of the coin, the sign “50 year Anniversary 1967-2017” is engraved next to the antelope.

What Mint produces the coins?

The South African Mint, located in the province of Gauteng near Pretoria, has been one of the leading manufacturers of coins since its foundation in 1890. It produces coins for the South African Reserve Bank. Today, the Mint produces gold and silver coins of South Africa (including Krugerrands), as well as medals. In addition, here are minted the coin planchets and ready-made coins for a number of other countries in Africa, South America, Asia and Europe.

Cost of Krugerrands on the market

Gold Krugerrands of the first edition have the following price on numismatic exchanges:

In 2017, the South African Mint issued jubilee Krugerrand coins, the price of which far exceeds their denomination on the market:

Each coin has also a certificate confirming its authenticity.

Interesting Facts