The South African Krugerrand, first minted in 1967 to market South African gold, was the first gold bullion coin minted for investment purposes. The South African Mint produced the coin, which quickly became the most widely owned bullion coin in the world.
Designed by O. Schultz, the Krugerrand’s obverse displays the words “SUID-AFRIKA – SOUTH AFRICA” across the top (the name of South Africa in Afrikaans and English). Beneath is the profile of the first President of the SouthAfricanRepublic, Paul Kruger.
On the coin’s reverse, designed by C.L. Steynberg, there is a running springbok, which is a South African antelope. You will also find the date of issue, with the first two digits of the year to the left of the springbok, and the last two digits to its right. “KRUGERRAND” arches across the top, while the amount and purity of gold are at the bottom. There is no face value because it is primarily minted for trading outside South Africa.
Each Krugerrand coin is comprised of approximately 91 2/3 parts gold and 8 1/3 parts copper. The South African Mint became a full subsidiary of the SA Reserve Bank in 1988.