Gold South African Krugerrand
In 1967, the government of South Africa minted the gold Krugerrand to increase the marketing of South African gold. Although the Krugerrand is considered as legal currency in South Africa, it is rarely used for that purpose. Instead, it has become a favorite of coin collectors all over the world, known as “medal coins” This was the first coin to be valued at the monetary value of gold, or the current rate of gold prices. For example, a U.S. silver dollar is worth exactly one dollar unless it is unusual in some way that makes it more valuable to collectors. The Krugerrand was originally a one-ounce piece of 22 carat gold with no monetary value imprinted on it; its value is based upon the market gold price that frequently fluctuates. Today Krugerrands are made in a variety of weights, including half-ounce, quarter-ounce and one-tenth ounce.
