2023 1/4oz South African Krugerrand Gold Coin

South African Krugerrand 2023 1/4oz Gold Bullion Coin

The Krugerrand remains the world’s most widely owned and actively traded gold bullion coin. First introduced in the late 1960s, when South Africa produced around 75 percent of the western world’s gold, it became a crucial tool for encouraging gold ownership following the collapse of the Gold Standard in 1971.

History and Background
Developed through collaboration between the Chamber of Mines of South Africa, the South African Reserve Bank, and the South African Mint, the first Krugerrand was struck on 3 July 1967. It also pioneered the concept of a gold coin denominated by weight in ounces, which has since become the global standard for bullion issues.

Distinctive Features
Though recognised as legal tender, the Krugerrand carries no face value. Its market worth is determined entirely by the prevailing gold price, ensuring a direct link between coin and metal content. Produced in 22 karat gold, it was intentionally mass manufactured to make gold accessible to ordinary buyers. Since its introduction, more than 50 million Krugerrands in all sizes have been minted, solidifying its status as one of the world’s most trusted and enduring bullion coins.