Oakton Coins & Collectibles actively buys and sells South African Gold Krugerrand Coins.

Gold Krugerrand coins are the official 22k gold coin of South Africa. Over the last 50 years, over 50 million Gold Krugerrand Coins have been struck. Gold Krugerrand coin prices are based on the fluctuating gold spot price. This official South African 22k gold coin is considered legal tender in South Africa, yet it does not carry an explicit legal tender face value. Value:

• 1 troy oz. fine gold
• Composition: Gold (91.67% Au, 8.33% Cu)
• Years of minting: 1967 – present

Krugerrands are among the most recognized and widely circulated gold coins in the world. First minted in 1967, they have been in continuous production ever since, making them the most widely distributed gold bullion coin globally.

The obverse of the Krugerrand features an image of Paul Kruger, a prominent South African statesman, while the reverse displays a Springbok antelope, a symbol of South Africa. Each Krugerrand contains precisely 91.6% gold, with the remainder in copper, which adds durability—a characteristic that makes it suitable for circulation, similar to the British Sovereign.

Krugerrands are produced by the Rand Refinery, a South African company with a history in precious metals dating back to 1920. Notably, the Rand Refinery operates independently from the South African government, so technically, Krugerrands are classified as “gold rounds” rather than coins. This distinction arises because only government-issued currency can officially be considered a coin. However, the South African government granted Krugerrands legal tender status, which is unusual for a privately minted gold round.

Unlike other coins, such as the American Eagle, which bears a nominal face value, Krugerrands do not have a set currency denomination. Instead, their value is directly tied to the gold market price, making them a popular choice among investors worldwide.