For years after its introduction in 1967, the South African Gold Krugerrand dominated the gold coin market. It was the first gold coin sold for its weight and purity, and its production encouraged other countries like Canada, Australia, China, and the US to mint their own gold coins. Produced by the South African Mint, the gold Krugerrand has a long history and is widely recognized all over the world.
With a rich copper colored tone, the Krugerrand features the face of Paul Kruger, the State President of the South African Republic from 1883 to 1900 known for his leadership in the Boer resistance against the British, designed by Otto Schultz. The reverse, designed by Coert Steynberg, features the national symbol of South Africa, an antelope gazelle known as a springbok prancing gallantly.
Krugerrands are alloyed with copper which makes them more resistant to scratching than other gold coins. Their durability and lower premium makes them a great investment for those looking for a practical introduction to buying gold coins. The Krugerrand has a lower premium than the Gold American Eagle but contains just as much gold.
By 1980 the Krugerrand accounted for 90% of the global coin trade market. In that same year, the South African Mint released fractional sizes of the Krugerrand: 1/2 oz, 1/4 oz, 1/10 oz.