1 oz Gold
33.93g, .9167, 32.77mm
Fractional
½ oz, ¼ oz, 1/10 oz (1980–)
Smaller Sizes
1/20 oz, 1/50 oz (2017–)
Silver
1 oz, .999, 38.7mm (2017–)
2 oz Gold
Introduced 2018, 200 mintage (2025)
Oom Paul Press
Struck first 1967–2024
Krugerrand (1967–present)
The world's first modern gold bullion coin, introduced 3 July 1967, as a vehicle for private gold ownership. By 1980, it accounted for 90% of the global gold coin market. Over 50 million ounces have been sold since production began.
Key Facts
- Obverse: Paul Kruger by Otto Schultz (1892 design)
- Reverse: Springbok by Coert Steynberg (1947 design)
- Legal Tender: In South Africa (SARB Act 1989), but has no face value
- Bullion Edge: 160 reeds
- Proof Edge: 220 reeds
Coin Images (Obverse & Reverse)
Reference images for quick visual identification.
Obverse
Reverse
History
The Krugerrand was introduced on 3 July 1967 as a vehicle for private gold ownership . It was initially referred to as a "Trojan" – a reference to one Troy ounce of gold content. The public was invited to suggest a new name, and credit is given to a Mr. Maré who suggested the name "Krugerrand" – a combination of Paul "Kruger" and the South African currency unit, the "rand".
From 1967 to 1969, Krugerrands were made only as collector's pieces, with mass production beginning in 1970 for international circulation. The first one-ounce coin was offered to the public at the Rand Easter Show in 1970 at a selling price of R27.40. By 1980, the Krugerrand accounted for 90% of the global gold coin market.
During the 1980s and 1990s, Krugerrands fell out of favor as some Western countries forbade their import because of its association with the apartheid government of South Africa. The US banned imports in 1985 – the previous year, over US$600 million of Krugerrands had been marketed in the country. Most sanctions were removed in 1991 after the South African government took steps to end its apartheid policies.
Technical Specifications (Gold)
The Krugerrand is made from a durable 22‑carat gold alloy (91.67% gold, 8.33% copper), which gives it a distinctive reddish hue and makes it more resistant to scratches and wear than pure gold .
| Denomination | Introduced | Total Weight | Gold Weight | Diameter | 2025 Proof Mintage |
|---|---|---|---|---|---|
| 2 oz | 2018 | 67.86g | 2 oz (62.207g) | 40.00mm | 200 |
| 1 oz | 1967 | 33.93g | 1 oz (31.103g) | 32.69mm | 1,000 |
| ½ oz | 1980 | 16.965g | ½ oz (15.552g) | 27.00mm | 500 |
| ¼ oz | 1980 | 8.482g | ¼ oz (7.776g) | 22.00mm | 1,250 |
| 1/10 oz | 1980 | 3.393g | 1/10 oz (3.110g) | 16.50mm | 1,500 |
| 1/20 oz | 2017 | 1.697g | 1/20 oz (1.555g) | 12.00mm | Sets only |
| 1/50 oz | 2017 | 0.679g | 1/50 oz (0.622g) | 8.00mm | Sets only |
Purity: All gold Krugerrands are .9167 fine (22‑carat).
Silver Krugerrand (2017–present)
To commemorate the 50th anniversary of the Krugerrand in 2017, the South African Mint introduced a 1 oz silver version with the same overall design. The silver coin is slightly larger in diameter than the gold coin. Its popularity ensured it became a lasting addition to the Krugerrand family.
1 oz Silver Krugerrand
- Denomination: 1 Rand
- Metal: .999 Fine Silver
- Weight: 1 oz (31.1g)
- Diameter: 38.7mm
- First Year: 2017
- 2017 Mintage: 630,000
- 2025 Proof Mintage: 7,500
2 oz Silver Krugerrand
- Introduced: 2025
- Metal: .999 Fine Silver
- Weight: 2 oz (67.252g)
- Diameter: 50mm
- 2025 Proof Mintage: 5,000
Proof vs. Bullion Krugerrands
Krugerrands are produced in both bullion (circulation strike) and proof (collector) finishes. The most reliable way to distinguish them is by the edge serrations: proof coins have 220 edge serrations, while bullion coins have 160.
- Bullion: Uncirculated finish, 160 reeds, higher mintages, lower premiums over spot.
- Proof: Mirror-like finish, 220 reeds, lower mintages, higher numismatic premiums.
Annual Proof Sets (2025)
The South African Mint offers several premium proof sets each year:
- 7‑coin prestige set: Includes 2 oz, 1 oz, ½ oz, ¼ oz, 1/10 oz, 1/20 oz, and 1/50 oz gold proofs – limited to 50 sets .
- 6‑coin fractional set: 1 oz through 1/50 oz – limited to 400 sets .
- 5‑coin fractional set: ½ oz through 1/50 oz – limited to 400 sets .
Final Oom Paul Press Krugerrands (2024)
The historic Oom Paul press, which struck the first Krugerrands in 1967, was retired in 2024. The final coins struck on this press were certified by NGC with the special pedigree "Final Oom Paul Krugerrands."
Key Dates and Values
While most common-date Krugerrands trade at small premiums over their gold content, certain key dates command significant numismatic premiums due to their lower mintages and collector demand. The early years (1967-1970) are particularly valuable as they were collector-focused .
| Year | Mintage | Value (MS68) | Notes |
|---|---|---|---|
| 1967 | 40,000 | $2,500 | First year of issue |
| 1967 (Proof) | 10,000 | $4,500 | Extremely limited proof |
| 1968 | 20,000 | $2,500 | Low mintage collector issue |
| 1969 | 20,000 | $2,500 | Last collector-only year |
| 1970 | 211,018 | $2,500 | First mass production year |
| 1991 (GRC Proof) | 426 | $2,000 | Extremely rare proof |
| 1997 (30th Anniv.) | 1,663 | $3,000 | Special anniversary edition |
| 1997 (SS Proof) | 72 | $15,000 | Ultra-rare proof variety |
Authentication & Security
For detailed information on authenticating Krugerrands, including edge serrations, international mintmarks, and advanced testing methods, see our dedicated guide:
Krugerrand Security Features GuideCollecting Strategies
- Bullion accumulation: Buy annual issues at spot + 3–5% premium.
- Date set: 1 oz 1967–present (approx. 58 coins). Key dates include 1967-1970 collector issues.
- Proof set collection: Annual proof sets (€2,000–3,000+ each).
- Type set: One of each size (2 oz, 1 oz, ½ oz, ¼ oz, 1/10 oz, silver).
- Multi-metal collection: Include Silver and 50th Anniversary Platinum issues.
Market Information (Indicative)
- Bullion premiums (2026): 1 oz: 3–5%, ½ oz: 10–15%, ¼ oz: 15–20%, 1/10 oz: 20–30% over spot.
- 2025 1/10 oz bullion: approx. R10,224 (South Africa) / ~$675–725 (US) .
- 2025 1 oz gold proof: limited to 1,000, premium significant.
- 2025 1 oz silver proof: limited to 7,500, approx. €59.50 (EMK) .
- 2025 2 oz silver proof: limited to 5,000 .
- 2025 2 oz gold proof: limited to 200 .
Sources
- South African Mint. "2025 Range New."
- Wikipedia. "Krugerrand."
- Gainesville Coins. "Gold Krugerrand Value."
- EMK. "Krugerrand 1 oz Silver – 50th Anniversary."
- Metal Market Europe. "Krugerrand 1/4 oz Gold 2026."
- Krugersdorp News. "Stamps celebrate 50 years of Krugerrands."
- Greysheet. "2026 Gold Krugerrand – 1/10 Ounce Values."