Gold South African Kruggerand 1oz
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The Krugerrand is a South African gold coin, first minted in 1967 to help market South African gold. The coin proved popular, and by 1980 the Krugerrand accounted for 90% of the gold coin market. It is produced by the South African Mint, and offered in one ounce, a half ounce, a quarter ounce and a tenth ounce of actual gold weight.
Private mints have attempted to capitalize off the popularity of the Krugerrand, minting gold and silver bullion rounds (the term coin denotes legal currency) in the style of the Krugerrand. The rounds often depict Paul Kruger and a springbok antelope, some even blatantly copying the same design as on the Krugerrands themselves, though the inscriptions are altered. These bullion rounds are not offered by the South African Mint or the Government of South Africa, and are therefore not official, have no legal tender value and can not technically be considered coins.
The Krugerrand was introduced in 1967, as a vehicle for private ownership of gold. It was actually intended to circulate as currency. Therefore it was minted in a more durable gold alloy, unlike most other bullion coins.
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