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The South African Krugerrand is a popular gold bullion coin that was first minted in 1967 by the South African Mint. It is named after Paul Kruger, the former president of the South African Republic, and features his portrait on the obverse (front) of the coin.
The Krugerrand is made of 22-karat gold, which means it is composed of 91.67% pure gold and 8.33% copper to give it durability and strength. It has a total gold weight of 1 troy ounce, with a diameter of 32.77mm and a thickness of 2.84mm. The coin's reverse (back) features a springbok antelope, one of South Africa's national symbols, leaping across the field.
The Krugerrand is one of the most popular and widely traded gold bullion coins in the world. It is also considered a legal tender in South Africa, with a face value of 1 Rand. However, the actual value of the coin is determined by its gold content and the current market price of gold.
Due to its historical significance and popularity, the South African Krugerrand is a highly sought-after investment vehicle for individuals who want to invest in gold bullion. It is also a favorite among collectors who appreciate its beauty and rarity.