South African gold coins are available and can be traded at the spot price of gold. The most famous rare South African gold coins come in the form of
Krugerrands, which are the countrys oldest modern
gold bullion coins, and the first to be issued in exact one-ounce sizes. As they were intended to be circulated in the form of currency (as a representative for private ownership of gold) early
Krugerrands differ from rare bullion coins in their composition: theyre actually made of a gold alloy with just over eight-percent of copper. This explains the Krugerrands durability against scratches and other damage.
Krugerrands are also sought-after South African gold coins as they were produced at a time when the worlds production of rare coins had ceased for more than forty years following the Great Depression of the 1930s. Owing to South Africas rich gold reserves in the mines of Gauteng, President Paul Kruger in collaboration with the South African Mint Company began producing gold bullion coins. Following the release of these
South African gold coins, a trend began which allowed owners to trade bullion coins on the basis of their gold content.
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