Friday, February 20, 2009

South African Krugerrand Gold Coin

The South African Krugerrand Gold coin is a 22 Karat gold bullion coin made by the Rand. Production began in 1967. The metallic composition is 91.67% gold and 8.33% copper. The high copper content gives the Krugerrand its distinctive copper/reddish color. The Krugerrand is legal tender in South Africa. The coin does not bear a currency denomination. Its value is simply the value of its gold content. Only the one ounce Gold Krugerrand (1 Troy ounce fine gold content) was produced until 1980 when three additional sizes were introduced: 1/10 oz, 1/4 oz, and 1/2 oz.

The obverse ("heads") side of the coin features a portrait of Paul Kruger the fifth President of the South African Republic serving from 1883 to 1900. The word Krugerrand is an amalgam of Kruger and Rand the name of the South African currency. The words "SUID-AFRIKA * SOUTH AFRICA" are shown in an arc across the top of the obverse side.

The reverse ("tails") side shows a pronking springbok (springbuck) designed by Coert Steynberg . The springbok is the national animal of South Africa. The mint date is shown on the reverse side with the first two numbers of the date centered and to the left of the springbok and the last two numbers to the right. "KRUGERRAND" is shown in an arc across the top and "FYNGOUD 1 OZ FINE GOLD" is shown in an arc around the bottom.

Here are a few interesting facts about South African Krugerrand Gold coin. Proof Krugerrands have 220 crenellations (serrations on the edge) while the bullion coin has 180. The word Krugerrand is a registered trademark of the Rand Refinery. There are no official silver Krugerrands. Silver coins based on the Krugerrand have been privately minted but are an infringement on the Rand Refinery’s trademark.

Gold Weight (Troy ounces)
Gold Weight (Grams)3.1107.77615.55231.103
Gross Weight (Troy)0.10910.27270.54541.0909
Gross Weight (Grams)3.3938.48316.96533.930
Diameter (mm)16.5522.0627.0732.77
Thickness (mm)1.3501.8882.2152.840

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