The Krugerrand is the world’s first modern gold bullion coin, struck since 1967 by the South African Mint — 1 troy ounce of gold in a durable 22-karat alloy, with Paul Kruger’s portrait on the obverse and the springbok on the reverse. It created the private-investor bullion market. This entry covers specs, fractional sizes, and what moves its price (spot gold, not rarity).
Key facts
- First struck 3 July 1967; the original 1967 issue had a mintage of 40,000 bullion-grade coins (KM-73).
- 1-oz specs: gross weight 33.93 g (1.0909 oz), exactly 1 troy ounce (31.103 g) of pure gold; fineness .9167 (22 karat); 8.33% copper alloy gives the distinctive reddish tint and scratch resistance; diameter 32.77 mm; thickness 2.84 mm.
- Designs: obverse portrait of Paul Kruger (by Otto Schultz) with “SUID-AFRIKA / SOUTH AFRICA”; reverse springbok antelope by Coert Steynberg; no monetary face value — legal tender valued at the daily gold price.
- Fractional sizes ½, ¼, 1/10 oz added in 1980; 50 oz, 5 oz, 1/20 oz, 1/50 oz added 2017; 2 oz added 2018; silver and platinum Krugerrands introduced 2017.
- Gold supplied and refined through Rand Refinery; by law the South African Mint is the only maker of South African legal-tender coins.
- Note: because the coin’s value tracks gold spot, the “Market check” below reflects bullion-plus-premium listings, not a fixed catalog value.