South African Krugerrand

The South African Mint Company has been minting South African Krugerrand coins since 1967, for the explicit intention of marketing South African gold to the world. South Africa is the world's leading gold producer, and these exquisitely beautiful 22-karat gold bullion coins contain exactly one troy ounce of pure gold. South African Krugerrands do hold legal tender status in their native country, but aren't really intended to be used as currency. They contain an added copper alloy to lend them durability, which also lends the coins a distinctive orange hue that adds to their dynamic, regal appearance. Although South African Krugerrands enjoy worldwide popularity today, they were hardly an overnight marketing sensation. Krugerrand acceptance met initial resistance, as bullion ownership by U.S. citizens was virtually unheard of until 1973. South Africa's inhumane policy of apartheid also inhibited the coins global acceptance, until apartheid was eventually lifted in 1994.

The obverse side of the South African Krugerrand depicts the profile of Paul Kruger, who was a legendary frontiersman (or Boer), and eventually became the fifth and last President of the old South African Republic. The reverse side features a springbok antelope, which is one of the national symbols of South Africa. The country's name and gold content are inscribed in both English and Afrikaans. The name "Krugerrand" is actually a hybrid of two names, with Paul Kruger's last name in the prefix of the coin's name, and the "Rand", which is the monetary unit of South Africa.

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