South African Mint and Rand Refinery: the story of the legendary Krugerrand

A coin that changed how people bought gold

The Krugerrand was created to offer South African gold in an easily traded coin format. The standard one-ounce version contains one troy ounce of fine gold.

The South African Mint and Rand Refinery work together to manufacture the bullion Krugerrand. The South African Mint also produces collector versions in proof quality.

A portrait and an antelope

One side depicts Paul Kruger, while the other features the springbok antelope. Together, these designs created one of the most recognisable images in bullion coinage.

The name combines Kruger’s surname with the rand, South Africa’s currency. The gold Krugerrand is legal tender but does not carry a stated face value.

Why is the Krugerrand not pure gold?

The gold Krugerrand is made from a 22-karat gold and copper alloy. Copper contributes to its characteristic colour and improves the coin’s durability.

A one-ounce Krugerrand nevertheless contains a full troy ounce of fine gold. The added copper increases its total weight rather than reducing its stated gold content.

When comparing it with a coin of 999.9/1000 fineness, look at the amount of fine metal, not simply the fineness or total weight.

Bullion or proof?

Standard bullion coins and proof collector editions serve different purposes. A proof coin’s price also reflects its finish, mintage, packaging and condition.

Customers focused on the gold itself should compare purchase premiums and resale terms. A higher price for a special edition does not automatically mean more precious metal.

At Golden House, we will be happy to help you choose a Krugerrand from our current range according to your preferred weight and purpose.