South Africa: New World-first Gold Piedfort Proof Two Ounce Krugerrands Minted

First launched in 1967 as a bullion gold ounce coin, the South African Krugerrand, with no specific denomination or face value soon became one of the world’s best known and trusted bullion coins. Their availability all over the world sparked an international trade and interest in private gold ownership for members of the general public. This year, the South African Mint launch their first-ever gold Krugerrand as a two-ounce gold coin produced with a double-thickness of 5.2 mm. or piedfort specifications. As these coins are a premier product, they are struck in proof quality.

Krugerrands are minted from gold sourced in South African mines and ultimately became one of the country’s most lucrative and sought-after exports. With the success of the one-ounce weight, the South African Mint produced fractions ranging from half, quarter and tenth ounce weights. From 2017, silver Krugerrands were introduced to mark the 50th anniversary of the first Krugerrand coins. These limited edition collector coins were a huge success, resulting in the South African government authorising the Rand Refinery and South African Mint to produce both bullion and proof silver versions in 2018 as an annual release. The first two-ounce silver coins were minted in 2020 and which followed on from the success of one-ounce coins.

The common obverse design for all Krugerrands features a profile image of Paul Kruger (1825–1904) president of the South African Republic/Zuid Afrikaansche Republiek from 1883 to 1900 and for whom the coins are named after. The effigy was originally modelled by die-engraver Otto Schultz and recreated from the original die used for the historic Kruger silver half-crown coins released in 1892. President Kruger is also remembered as having founded the South African Mint where the coins are produced. Above the likeness of Kruger is the text SUID-AFRIKA and SOUTH AFRICA. The reverse design depicted on all Krugerrands was originally created by the renowned sculptor, Coert Steynberg, and features one of South Africa’s national animals, the springbok along with a stylised steppe landscape in the background. This design was first seen on five-shilling silver crown coins released in 1947 in celebration of the royal visit of HM King George VI and Queen Elizabeth. The name of the coin KRUGERRAND is placed above the primary design along the rim. The coin’s fine weight, fineness and precious metal are shown below the primary design as FYNGOUD 2 0Z FINE GOLD with the year of issue 20 and 24 shown as two digits placed on either side of the Springbok.

Available from the 27th September, each coin is encapsulated and presented in a custom polished hardwood case accompanied with a numbered certificate of authenticity. For additional information, it is advised to contact your closest bullion / distributor.