Krugerrand
The Krugerrand is the first modern gold investment coin. Launched in 1967 by the South African Mint to market South African gold, it was the first coin to contain exactly one troy ounce of fine gold — a format later adopted by the Maple Leaf, the American Eagle and many others. Its name combines that of Paul Kruger, president of the South African Republic (Transvaal), whose portrait appears on the obverse, with the rand, the country’s currency; the reverse shows a springbok antelope, the national emblem, designed by Coert Steynberg.
The coin weighs 33.93 g in total, but it is not 100% pure: its fineness is 916.7‰ (22 karat), the rest being copper, which gives it its slightly orange colour and makes it more scratch-resistant. Of these 33.93 g, 31.10 g are pure gold — exactly one troy ounce.
The price of a gold coin follows the amount of pure gold it contains, not its total weight. Although heavier than the Maple Leaf, the Krugerrand contains the same troy ounce of fine gold: that is why both coins are offered at the same price.
