Krugerrand
| South Africa | |
| Value | 1 troy oz. fine gold |
|---|---|
| Mass | 33.93 g (1.09 troy oz) |
| Diameter | 32.77 mm (1.28 in) |
| Thickness | 2.84 mm (0.11 in) |
| Composition | Gold (91.67% Au, 8.33% Cu) |
| Years of minting | 1967 – present |
| Obverse | |
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| Design | 1984 by Otto Schultz - Profile of Paul Kruger with "SUID-AFRIKA·SOUTH AFRICA" in the legend. |
| Reverse | |
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| Design | 1984 by Coert Steynberg - A springbok antelope with the mint date in the field. The legend is inscribed with "KRUGERRAND" and the gold weight. |
For the Ian McNabb album, see Krugerrands.
The Krugerrand (Afrikaans pronunciation: [ˈkryχərˌrant]; English /ˈkruːɡərˌrænd/ or /-ˌrɑːnd/) is a South African gold coin, first minted in 1967 to help market South African gold and produced by the South African Mint. By 1980 the Krugerrand accounted for 90% of the global gold coin market. The name itself is a compound of Kruger (the former South-African president depicted on the obverse) and rand, the South African unit of currency. During the 1970s and 1980s some Western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa.
Production levels of Krugerrands have significantly varied during the last 50 years. During 1967–1969, around 40,000 coins were minted each year. In 1970, the number rose to over 200,000 coins. More than one million coins were produced in 1974, and in 1978 a total of six million Krugerrands were produced. Following the end of apartheid, the production dropped to 23,277 coins in 1998 and since then levels have increased again, albeit not reaching pre-international sanction levels.
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