First struck in 1967, the South African Krugerrand was the world's first gold bullion coin. Rather than have a face value, Krugerrands are struck only showing their weight in pure gold. Since their introduction, over 54 million gold Krugerrands have been distributed worldwide. The Krugerrands popularity ultimately led to the coining of the popular Canadian Maple Leaf in 1979 and the US Gold Eagle in 1986, as well as several others.
The obverse of the Krugerrand features a profile of Paul Kruger, a past president of the Republic of South Africa. The reverse shows a male springbok, a national symbol of South Africa.
The Krugerrand has a diameter of 32.6 mm and has a 2.74 mm thickness. The Krugerrand has an actual weight of 1.0909 troy ounces and is struck in 91.67% pure (22 karat) gold. To make the coin resistant to wear and scratches, 8.33% of the coin's weight is copper. This alloy has long been used for English Gold Sovereigns, which gives the Krugerrand a more orange appearance than the silver-alloyed gold coins. After allowing for the copper content, the Krugerrand contains one ounce of pure gold.
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