Description
The South African Krugerrand was first minted in 1967 to market the gold produced from the South African gold mines. Since then it has become one of the most popular bullion coins and is recognised internationally. The half ounce Krugerrand was made from 1980 and is 22 carat, but contains half an ounce of pure gold. The name is derived from a combination of ÔKrugerÕ taken from Paul Kruger, the former President of the South African Republic and ÔRandÕ, the South African currency.
The obverse shows a portrait of Paul Kruger by Otto Schultz and the reverse design by Coert Steynberg, shows a springbok, the national animal of South Africa. The gold content and ÔSouth AfricaÕ are written in both English and Afrikaans. The Krugerrand is considered to have legal tender status in South Africa although it displays no face value.
The Krugerrand is also made in sizes of one ounce, quarter ounce and one-tenth ounce from 1980 onwards.