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About

The Krugerrand

The world's first modern gold bullion coin minted continuously by the South African Mint since 1967.

History

The Krugerrand was first minted in 1967 by the South African Mint and Rand Refinery. Named after Paul Kruger, president of the South African Republic, and the rand, South Africa's currency. It was the world's first modern gold bullion coin.

The Design

Obverse: portrait of Paul Kruger by sculptor Otto Schultz, surrounded by the words SUID-AFRIKA · SOUTH AFRICA. Reverse: the springbok antelope by sculptor Coert Steynberg. The coin carries no face value but is legal tender in South Africa.

Gold & Alloy

The gold Krugerrand is 22 carat and 91.67% gold alloyed with 8.33% copper, giving the coin its distinctive warm reddish-gold colour and making it more durable than pure 24-carat coins. Each 1oz coin contains exactly one troy ounce (31.103g) of fine gold.

Fractional Sizes

From 1980, the SA Mint introduced three additional sizes: 1/2oz, 1/4oz, and 1/10oz. Each fractional coin contains the same 22-carat gold alloy and carries exactly the stated fraction of one troy ounce of fine gold.

The Silver Krugerrand

Introduced in 2017 to mark the coin's 50th anniversary. Minted in .999 fine silver. Produced exclusively by the South African Mint.

Production

All Krugerrands are produced by the South African Mint (owned by the South African Reserve Bank) and refined by Rand Refinery in South Africa, an LBMA approved refinery.

Global Recognition

Over 60 million troy ounces of gold Krugerrands have been sold worldwide since 1967. The Krugerrand is the most widely traded gold bullion coin in the world, recognised and traded by dealers in every major market.

EU VAT Status

Gold Krugerrands are classified as investment gold under EU VAT Directive Article 344. Sales are VAT-exempt throughout the European Union. Silver Krugerrands are subject to standard VAT rates of 21% BTW in the Netherlands.

Timeline

  1. 1967

    First Krugerrand minted by SA Mint / Rand Refinery

  2. 1970s

    Global distribution begins — South Africa exports worldwide

  3. 1980

    Three fractional sizes introduced: 1/2oz, 1/4oz, 1/10oz

  4. 1980

    Krugerrand accounts for 90% of global gold coin market

  5. 1985

    US imposes import ban during apartheid sanctions era

  6. 1999

    Sanctions lifted — Krugerrand re-enters US and global markets

  7. 2017

    Silver Krugerrand introduced — 50th anniversary

  8. 2026

    Over 60 million troy ounces sold worldwide