Bullion

1968 South Africa 1 oz Gold Krugerrand BU

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In 1967, a new concept in coinage emerged that would alter the global market. The Krugerrand was introduced as the pioneer of modern gold bullion, created specifically to showcase South African gold to the rest of the world. Unlike traditional currency, these pieces were never assigned a specific face value. Instead, their worth was tied directly to the fluctuating price of the precious metal they contain, which consists of exactly one ounce of gold. The obverse of this 1968 issue features the profile of Paul Kruger, who served as the initial president of the South African Republic. Surrounding his likeness, the country of origin is inscribed in both English and Afrikaans. This historical connection runs deep, as President Kruger originally founded a national minting facility back in 1886. On the reverse, the design celebrates the natural heritage of the nation by depicting the springbok antelope, South Africa's national animal. This side also displays the year of manufacture, 1968, alongside the metal weight. The bullion version of this famous series is produced through a collaborative effort between the South African Mint, which operates under the South African Reserve Bank, and the Rand Refinery.