Krugerrand Gold Coin

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DEFINITION of 'Krugerrand Gold Coin'

A gold coin minted by the Republic of South Africa. Krugerrand gold coins contain exactly one troy ounce of gold. This coin was first minted in 1967 in order to stimulate the market for South African gold. It is considered legal tender within the country.

INVESTOPEDIA EXPLAINS 'Krugerrand Gold Coin'

The Krugerrand is one of the more frequently traded gold coins in the world market. It was the first gold-bullion coin that was tenderable at the market value of its face gold content. Because it was not supposed to be a replacement for the currency, it is considered to be a medal coin by definition.

RELATED TERMS
  1. Bullion Coins

    Coins made from precious metals that are generally used for investment ...
  2. Gold Standard

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  3. Precious Metals

    A classification of metals that are considered to be rare and/or ...
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    Gold and silver that is officially recognized as being at least ...
  5. ZAR (South African Rand)

    The currency abbreviation for the South African rand (ZAR), the ...
  6. Currency

    A generally accepted form of money, including coins and paper ...
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