South African Krugerrand
South African Krugerrand Overview
The South African Mint, maker of the Krugerrand, is never in short supply of gold, as South Africa is the world's second largest producer of gold, recently overtaken by China. The last name of the first President of the South African Republic, Paul Kruger, featured on the coin, is the origin of the coin's name.
Krugerrands do not have a face value but are denominated in ounces of pure gold. As with all legal tender coins, they do not need to be assayed or melted down upon resale, and are internationally recognized. There are over 54 million Krugerrands in circulation.
South African Krugerrand Design
The obverse of the Krugerrand, designed by O. Schultz, features the first President of the South African Republic, Paul Kruger. Kruger is surrounded by the name of his nation in Afrikaans and English, two of South Africa's eleven official languages: SUID-AFRIKA and SOUTH AFRICA.
The reverse, designed by C.L. Steynberg, features a leaping South African antelope and lists the date of issue and the amount and purity of the gold. The Krugerrand does not carry a face value, as it is primarily minted for trading outside South Africa.