2024 1oz South African Krugerrand Gold Coin

South African Krugerrand 2024 1oz Gold Coin

The Krugerrand is the world’s most widely owned and actively traded bullion coin. Its origins date back to the late 1960s, when South Africa accounted for roughly three-quarters of global gold output. Following the collapse of the Gold Standard in 1971, the Krugerrand became the chosen vehicle to promote private gold ownership on an international scale.

Origins and Legacy
Developed through collaboration between the Chamber of Mines of South Africa, the South African Reserve Bank, and the South African Mint, the Krugerrand was first issued on 3 July 1967. It was also the first gold coin denominated by weight in ounces, a format that has since become standard worldwide.

Distinctive Features
Although it is legal tender, the Krugerrand does not carry a face value on either side. Instead, its value is tied directly to the prevailing gold price, reinforcing its purpose as a true bullion coin. Struck in 22 karat gold, it was designed to make gold ownership accessible to the wider public. Since its launch, more than 50 million Krugerrands of various sizes have been minted, cementing its reputation as one of the most iconic and trusted gold coins in the world.