2017 is a special year for Krugerrands; it is the 50th anniversary of the first minting of this iconic coin back on the 3rd July 1967. The coin has been very successful and during the 1960’s and 1970’s, South Africa produced 75% of the World’s gold output.
The Krugerrand is legal tender but despite having the word ‘Rand’ in its title, the coin is not denominated (that is, it has no face value) and the coin is intended to sell based on the cost of its gold content. However, the proof version will be higher due to the numismatic value on top of its inherent intrinsic value.
To mark the 50th anniversary, the South African Mint has issued a special proof version of the famous bullion coin (limited to a maximum issue of 5000 coins). The reverse has a special 50th anniversary mint-mark just above the Springbok.
The springbok is a medium sized antelope indigenous in South Africa and is a common symbol of the country (the South African rugby team is nicknamed the “Springboks”).
The coin itself contains a full 1 (troy) oz of gold, so the coin weighs slightly more than 1 oz itself.
The name of the coin is derived from a combination of Kruger (the former South-African president depicted on the obverse) and Rand, the South African unit of currency. Paulus (“Paul”) Kruger (1825-1904) was President of the South African Republic from 1883 to 1900. Kruger was one of the most important people in the history of 19th century South Africa.
As is common these days, the packaging is excellent:
This is a beautiful coin and an excellent investment.
There are other coins in the 2017 50th anniversary ranges see our article Krugerrand Gold Jubilee (1967-2017) Offers Gold, Silver and Platinum Krugerrands.