Encyclopedia > Krugerrand
Krugerrand
Krugerrands were first minted in 1967 to help market South African gold. They were sold at a very low premium (5%) over the base gold value. The coins have legal tender status in South Africa but are not actually intended to be used as currency.
Originally only one size of coin was made, which contained one troy ounce (31.1035 grams) of gold. From 1980, three other sizes were introduced, a half, quarter, and tenth ounce size. 54.5 million coins of all four types have been sold.
The Krugerrand gets its name from the fact that the "heads" side of the coin shows the face of Paul Kruger, president of the old South African Republic.
| Size | Face Value (Rand) | Weight (g) | Fineness /1[?].000 | Gold Content (g) | Gold Content (Troy) |
| Full | 10 | 33.9305 | .917 | 31.104 | 1.0000 |
| Half | 5 | 16.9653 | .917 | 15.552 | 0.5000 |
| Quarter | 2.5 | 8.4826 | .917 | 7.776 | 0.2500 |
| Tenth | 1 | 3.3931 | .917 | 3.110 | 0.1000 |
http://www.onlygold.com/ - for current price
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