South AFRICAN 1OZ COIN YEAR1978

Description:

The South African Krugerrand coin is one of the world’s most prestigious and actively traded gold bullion coins, famous for its rich history and iconic design. But what do you know about this iconic gold coin? This blog answers some of the most frequently asked questions about the Krugerrand.

When was the first Krugerrand gold coin minted?
The South African Mint released the very first Krugerrand gold coin in July 1967.

In a time of great political upheaval and uncertainty due to the Cold War, the Vietnam conflict, and Richard Nixon ending the Gold Standard, South Africa made the decision to strike its own gold coin. While previous gold coins had been struck primarily for the rich, the Krugerrand gold coin was designed as the ‘working man’s coin’ - a coin for the hard-working wider population who wanted to preserve their savings.

The Krugerrand is considered to be the world’s first gold bullion coin. After the unrivalled success of this coin becoming the number one choice for gold investors, other countries soon followed suit. The first was Canada, who introduced the 1oz Maple Leaf in 1979, and other countries such as the USA, UK and Australia soon followed, introducing their own gold bullion coins.