2023 1oz South African Krugerrand Gold Coin

South African Krugerrand 2023 1oz Gold Bullion Coin

The Krugerrand is the most widely held and actively traded gold bullion coin in the world. Introduced in the late 1960s, at a time when South Africa was responsible for around 75 percent of global gold production, it became the leading vehicle for promoting private gold ownership following the collapse of the Gold Standard in 1971.

History and Development
Created through cooperation between the Chamber of Mines of South Africa, the South African Reserve Bank, and the South African Mint, the first Krugerrand was issued on 3 July 1967. It was also the first gold coin to be denominated in ounces, setting the template for bullion coinage worldwide.

Unique Characteristics
Although recognised as legal tender, the Krugerrand does not display a face value. Instead, its worth is tied directly to the global gold price, ensuring transparency and confidence for buyers. Struck in 22 karat gold, it was mass produced to make gold ownership widely accessible. Since its launch, more than 50 million Krugerrands across all sizes have been minted, cementing its place as one of the world’s most iconic and trusted gold coins.