South African Mint gold coin Krugerrand 1 oz

The Krugerrand is the world's most famous and widespread gold coin with more than 50 million copies in circulation. The best-selling coin in Germany. The copper admixture gives this coin a characteristic red tinge. The value of pure gold in this coin is 916,667 / 1000, in contrast to gold coins without impurities, which have a 999.9 / 1000 share of the gold. Krugerrand is named after the first president of the Republic of South Africa - Stephanus Johannes Paulus Kruger (1825-1904). Its portrait is on the front of the coin, on the back is the motif of Springbok-Antelope, a symbol of South Africa. The Krugerrand was first put into circulation on July 3, 1967, and its focus on the troy ounce weight system (oz.tr.) is the first investment coin in the world. During the first few years, 40,000 copies were produced, serial production begins in 1970 with 211,018 pieces. In 1974, 3.2 million copies were minted, in 1978 with 6 million copies, the peak of production was reached. In 1986, in retaliation for apartheid policy, I boycotted the US and European Community imports of Krugerrand. The import ban was lifted in 1998, and to date, Krugerrand's production has not reached its previous production volume. Since 1980, in addition to the 1oz coin, three other weights of ½, ¼, and 1/10 ounces have been minted. According to the Central Bank of South Africa, Krugerrand is the official currency. The face value results from the fixed value of the gold contained in the coin, according to the current price of gold on the commodity exchange, converted into the currency of the country concerned.