Krugerrand 1 oz Gold 1967

Crugerrand 1 ounce Gold 1967 - this is the first issue of a bullion coin. The coin is minted from 916 fine gold with a small admixture of copper (8.333%). The addition of copper contributes to the coin's increased resistance to scratching and also gives it a unique colour. It is worth noting at the same time that the gold krugerrand contains one ounce of 24 carat gold, and its total weight is 33.93g.

Gold coins with the image of the springbok antelope have been minted continuously since 1967. Initially, they were only produced in one ounce weights, however, since 1980, Krugerrands in 1/2, 1/4 and 1/10 ounce gold weights have been introduced. Interestingly, the name of the gold bullion coin was formed from a combination of the words 'Kruger' and 'rand' - which is the name of the currency in South Africa.

Krugerrands are produced by the South African Rand Refinery mint. They are full-fledged legal tender, with a guarantee from the South African government as to the legality, purity of the bullion and the origin of the metal. It is interesting to note that although Krugerrands are full-fledged legal tender, they have no monetary value. This means that the South African Reserve Bank is obliged to repurchase the coins at the prevailing gold price.

The obverse is decorated with a portrait of the President, Paul Kruger, above which are the words "SUID-AFRICA" AND "SOUTH AFRICA".

Rewers depict a springbok antelope, the symbol of South Africa. On either side of it are numbers representing the year of minting, with the inscription "Fyngoud 1oz fine gold" underneath, indicating the pure gold content.