22K GOLD
1 oz South African Gold Krugerrand — Detailed Description
Overview
The South African Gold Krugerrand was first introduced in 1967 by the South African Mint and the Rand Refinery, making it the world’s first modern gold bullion coin. It was created to promote South African gold and to provide an easy way for individuals to own gold.
The Krugerrand remains one of the most widely traded and recognized gold coins globally, known for its 22-karat gold content and classic design that reflects South Africa’s heritage.
Key Specifications
Feature
Description
Denomination
No official face value (value based on gold content)
Weight
1 troy ounce (33.93 grams total)
Gold Content
1 troy ounce (31.1035 grams)
Purity
.9167 fine gold (22 karat)
Alloy
91.67% gold, 8.33% copper
Diameter
32.77 mm
Thickness
2.84 mm
Manufacturer
South African Mint / Rand Refinery
Country of Issue
South Africa
Legal Tender
Yes, but with value linked to the market price of gold
Design Details
Obverse (Front)
Features the profile portrait of Paul Kruger, the 5th President of the old South African Republic (1883–1900).
The word “SUID-AFRIKA” (Afrikaans) and “SOUTH AFRICA” (English) appear along the rim.
Designed by Otto Schultz.
Reverse (Back)
Displays a springbok antelope, one of South Africa’s national symbols, galloping across the plains.
Designed by Coert Steynberg, also known for the springbok design on South African coins.
Inscriptions include:
“KRUGERRAND”
The year of minting
“FYNGOUD 1 OZ FINE GOLD” (Afrikaans for “fine gold”)
Gold Content and Composition
The Krugerrand contains exactly 1 troy ounce of pure gold.
The 22-karat alloy (91.67% gold, 8.33% copper) gives it extra durability and a distinctive reddish-gold hue.
Total weight is slightly higher than 1 oz to compensate for the copper alloy — ensuring 1 full ounce of gold content per coin.
Finish and Versions
Bullion Version: Standard matte finish for investment.
Proof Version: Specially struck with frosted detail and mirror-like background for collectors (comes in presentation cases).
Investment Value
The Krugerrand is one of the most recognized and liquid gold coins in the world. It is widely accepted by dealers and investors for trade or resale.Its 22K composition makes it more durable than 24K coins like the Gold Maple Leaf or Gold Buffalo.
However, in some countries (including Canada), it is not considered investment-grade gold for tax exemption purposes due to its purity being below 99.5%.
Tax Implications in Canada
Because the Krugerrand is 91.67% gold (22K), it does not meet the CRA’s 99.5% purity requirement for investment-grade precious metals.➡️ Therefore, it is subject to GST (5%) + provincial tax (HST or PST) when purchased in Canada.
Quick Summary
Attribute
Details
Purity
22K (.9167)
Gold Content
1 oz
Country
South Africa
First Issued
1967
Design
Paul Kruger & Springbok Antelope
Tax in Canada
Taxable (less than 99.5% purity)
COIN