South Africa has long been a hotbed of precious metal and gemstone mining. The country is home to some of the largest gold reserves found in the world, and it is no surprise that the nation was the first to issue a commemorative gold bullion coin as a national marketing tool. GoldClub Direct offers the 1 oz South African Gold Krugerrand with various years of issue.
The South African Gold Krugerrand was introduced in 1967 as the official bullion coin of South Africa, and became the first commemorative gold bullion coin on the market as a vehicle for private gold ownership. The coin was uncontested in the market for more than 12 years, with the Canadian Gold Maple Leaf offering the first challenge.
South African Gold Krugerrand coins were the first bullion coins issued legal tender status, but they do not bear a face value engraving on them. The obverse image of Paul Kruger, the four-term President of the South African Republic, was created for this coin in 1967.
The reverse image of the springbok, a native antelope species and national symbol of South Africa, was created by Coert Steynberg. This image had previously appeared on the reverse side of South African five shilling coins. Inscriptions on both sides of the coin are featured in the local Afrikaans dialect and English.
Krugerrand coins in this product listing have various years of issue. You can expect to receive a coin through this listing that is in About Uncirculated condition or better. An AU coin will typically showcase light or trace wear on only its highest relief points.
Nearly 22 million South African Gold Krugerrands were sold and shipped to buyers in the United States alone between 1967 and 1979 when Western nations enacted an embargo on South African goods in retaliation for its apartheid policies. Today it remains a popular product, and is available in bullion and proof, with fractional weights of 1/2 oz., 1/4oz., and 1/10 oz. now struck.