Business, Legal & Accounting Glossary
A gold coin minted in South Africa, containing a full troy ounce of gold.
A krugerrand is a gold coin minted by the Republic of South Africa. A krugerrand contains one ounce of twenty-two-carat gold. It is legal tender and is valued at the current market price of gold. The krugerrand is named after Paul Kruger, an early president of South Africa, and was first sold in 1967. The coin shows his face on its front side. The back side of the krugerrand shows a springbok, a national symbol of South Africa. The krugerrand also has a tiny amount of copper added to it to help it resist damage. The krugerrand has often been controversial because it was first made under the country’s practice of apartheid when gold was mined by black workers.
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This glossary post was last updated: 11th February, 2020