A 1 oz South African Krugerrand gold coin produced by the Rand Refinery in Johannesburg. The coins were first produced in 1967. By 1980 the Krugerrand was one of the most popular gold coins in circulation world-wide. The coin was initially introduced into the South African market as a way for private investors to be able to own gold.
The front of the Krugerrand features and image of Paul Kruger, a prominent South African politician, and president from 1883 – 1900.
The reverse of the coin features an image of a Springbok, an iconic antelope from the plains of Africa. The weight, fineness and year of mintage is also displayed.
The slight copperish tone of the Krugerrand gold coin is due to the addition of copper alloy to the coin, which makes it more durable. Krugerrands contain exactly 1 troy ounce (31.103 grams) of fine (24 carat) gold but weigh a total of 33.93 grams, which is more than a troy ounce. This is due to the addition of the copper alloy to the gold.