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South African Krugerrand
 
 
The South African Krugerrand was the first “modern” bullion coin, and also a Legal Tender issue. Minted continuously since 1967. the Krugerrand was mass marketed, especially to the United States, since up until 1974 private ownership of bullion was illegal in the US, however ownership of foreign coins was permitted. BY making the Krugerrand a Legal tender issues, Anericans were able for the first time since 1933 tolegally own a “Bullion Coin”.
 
The Krugerrand gets its name from the fact that the obverse features the face of Paul Kruger, a prominent Boer resistance leader against the British, and eventually the fifth and last president of the old South African Republic, holding that office for four terms.

The reverse depicts a springbok antelope, one of the national symbols of South Africa that was designed by Coert Steynberg and used on the reverse of the earlier five shilling South African coinage for King George VI and Queen Elizabeth II. The name “South Africa” and the gold content are inscribed in both Afrikaans and English.

Krugerrands are durable. They are alloyed with a small amount of copper, making them 22-karat coins - containing 11/12 part 24-karat gold and 1/12 part copper.