The South African Krugerrand was first introduced in 1967 as the world’s first gold bullion coin. It is denominated in ounces of pure gold rather than identifying a specific face value. Made from 22 karat gold, the Krugerrand was the first gold coin to contain exactly one ounce of fine gold – intended for private ownership.

During the 1970’s and early 1980’s, the United States prohibited private ownership of bullion but allowed ownership of foreign coins. This loop hole to gold ownership allowed U.S. citizens to purchase Krugerrands as a bullion investment and made them wildly popular. However, due to the policy of apartheid in South Africa, the Krugerrand was declared illegal to import in many Western countries until the South African political reform in the early 1990’s.

Coin Specifics

Composition: 22-karat, .916% fineness
Edge: Reeded