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Gold South African Krugerrand Coins

This one-of-a-kind coin was created by the South African Mint and was one of the first one troy ounce gold coins issued as legal tender by a government. Today, investors continue adding this 22-karat gold coin to their portfolios as a method of diversification.
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Updated on 07/09/2020 at 06:05 PM PST
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Gold South African Krugerrand
Design and Specifications

While there are a number of gold coins available on the market today, the South African Krugerrand has the legacy of being the first one troy ounce gold bullion coin issued as “Legal Tender” by a government and valued based its gold content intrinsic value, rather than the face value of the coin.

And Monex, America's premier precious metals investment firm, has been one of the nation's leading dealers in Krugerrands for more than 30 years.

Originally minted in 1967 in an effort to help market South African gold to the international market, the Krugerrand stood alone as an accessible bullion investment opportunity for the everyday the first gold coin to contain exactly one troy ounce of pure gold, it was intended from its inception to provide a way for the private investor to purchase gold bullion in an investor-friendly format.

Gold South African Krugerrand Coins Reverse

Although the coin was legal tender in South Africa, it was not legal to buy, sell and own in the United States until after 1974, when the United States government reversed the law forbidding ownership of gold. However, collectible gold coins were permitted. The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill to "permit United States citizens to purchase, hold, sell, or otherwise deal with gold in the United States or abroad" with an act of Congress which went into effect December 31, 1974.

Hyper-Inflation in the late '70s help establish “Krugerrand” as a household brand name for a gold coin. However, Congress soon thereafter enacted the Comprehensive Anti-Apartheid Act of 1986 that made it illegal to import South African Krugerrands until 1991. This boycott on Krugerrands helped make room for the introduction of today's two top gold bullion coins that come from North American mints. Today, with the lifting of apartheid, the Krugerrand has once again regained its status as one of the leading gold bullion coins traded world-wide.

Gold South African Krugerrands for Sale

The Krugerrand derives its name from combining the names of Paul Kruger, a well-known Boer leader and local hero who went on to become the last president of the Republic of South Africa, and the "rand" -- the monetary unit of South Africa.

The obverse side of the coin is detailed with a profiled bust of President Paul Kruger and features the name of the country, "South Africa," in the country's two native languages, English and Afrikaans. The reverse side of the coin features the image of a springbok antelope, one of the national symbols of South Africa, originally used on the South African 5-shilling piece. The reverse side also features the year of issue and the fineness of the coin.

The South African Krugerrand is a 22-karat coin weighing a total 1.0909 ounces (or 33.930 grams). It is comprised of one troy ounce of pure gold and 2.826 grams of a copper alloy which is used to give the coins higher durability and to make them more resistant to scratching, and gives the coins a unique orange-gold hue. The gold Krugerrand has a diameter of 32.6mm, a thickness of 2.74mm, and has a fineness of .9167, or 22 karats.

Monex offers the Krugerrand in units of ten one-ounce coins. Today, the Krugerrand is regarded as one of the worlds' oldest and most recognizable gold bullion coins, carrying with it all of the qualities one could want in a gold investment: liquidity, portability and beauty.

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Gold South African Krugerrands FAQ's
What is a Krugerrand?

The South African Gold Krugerrand is a Legal Tender coin issued by South Africa, weighing 33.93 grams, or 1.0909 troy ounces of 22-karat gold. It contains one troy ounce of pure gold along with an alloy of 2.826 grams of copper. Krugerrands have a diameter of 32.6mm, a thickness of 2.74mm, and a fineness of .9167.

Where do Krugerrands come from?

First minted in 1967, Krugerrands are produced and issued by South Africa as a Legal Tender coin. They are distributed and circulated freely in the international precious metals marketplace.

What is a Kuggerand and a Cougaran?

For some, the South African Gold Krugerrand is not well known and it is common to see the coin referred to as Krugerand, Kruggerrand and Cougaran. The longstanding Krugerrand brand name has not changed since its inception in 1967.

Who is on the Krugerrand?

The portrait on the face of the Krugerrand is of the well-known Boer leader and local hero, Paul Kruger, who became the last president of the Republic of South Africa. His full name is Stephanus Johannes Paulus Kruger, and he was born October 10, 1825. Kruger was a farmer, soldier and statesman, and considered historically as the founder of the Afrikaner nation. He was president of Transvaal, or South African Republic, from 1883 until his flight to Europe in 1900, after the outbreak of the South African (Boer) War.

What is the Cost of a Krugerrand to Purchase?

The purchase price of a South African Krugerrand is at the Monex Ask price. In addition, there are charges such as commission and shipping. There is no shipping charge if you select depository delivery. Today's Ask price per coin for buying in units of ten is: $1893.5.

How do I buy a Krugerrand?

Once you have decided on the quantity of Krugerrands to purchase, your Monex account representative will assist you in executing your order over the phone, and your purchase and price will be confirmed on a voice recorded line after your acknowledgment. A written confirmation will be sent to you with the details of your order.

Payment may be made after you order, but must be initiated on the day of purchase, which means you must mail or wire funds on the day of your purchase. You can have your metal shipped to your home, made available for pick-up at one of our affiliated secure locations located across the U.S., or have your metal delivered to a bank/depository for storage.

What is the best Place to sell Gold Krugerrands?

Since 1967, Monex companies have made it a priority to buy back gold that customers have purchased at Monex. Our multi-billion dollar, two-way buy and sell market is a hallmark and tradition at Monex, and is your assurance of liquidity for your gold Krugerrand investment. Please contact a Monex Account Representative for additional details.

Can I purchase Krugerrands in my IRA?

Krugerrands are not available for purchase in your gold IRA. Although they are a legal tender of a foreign government, they are not pure .999 fineness bullion coins. Krugerrand are just 22 karats or .9167 fine gold.

How well have Krugerrand Investments performed?

Over the long-term, Krugerrand investments have fared quite well. In fact, since the year 2000, they have appreciated over 400%.

Can I Finance against my Krugerrands that I have purchased?

With storage of Gold Krugerrands through Monex at Brinks or Farmers and Merchants bank, you can use your metal as collateral to borrow cash against it whenever you want, which you can use for any purpose. Monex Credit Company, a California Finance Lender, offers cash loans of up to 75% of the value of your metal while you retain full title and ownership of the metal. Interest rates vary but have been 5.9% per annum since 2006. There are no loan set-up fees or penalties for repayment at any time. You can call your Account Representative and have the cash proceeds of the loan immediately sent to you, or you can use the loan to pay for a purchase.

What is the oldest Gold Krugerrand Bullion Coin?

The oldest Gold Krugerrand bullion coin was dated 1967. That year was the very first year of issue for the Krugerrand, and in fact, the first issue of the now popular one ounce legal tender bullion coins.

Is the Gold Krugerrand the oldest Bullion Investment Coin?

It is generally agreed that the South African Gold Krugerrand is the oldest of the legal tender gold bullion coins. This is certainly from the point of view that it was struck with exactly one troy ounce of pure gold, and it was issued as legal tender without a fixed currency amount, but redeemable by its South Africa's central bank at the current value of one ounce of gold.

However, Austria issued 100 Corona restrikes after the 2016 death of Franz Joseph to commemorate his reign. All those Corona commemoratives were dated 1915, which became a marketing advantage as they circumvented United States law prohibiting possession of gold from 1933 through 1974.