South African Mint Coins

History of the South African Mint

Established in 1890, the South African Mint is one of the oldest mints globally. Its doors opened on 6 July 1892 in Pretoria. However, after the events of the Second Boer War between South Africa and Britain, the country was annexed, leading to the mint's closure.

Decades later, Britain decided to establish a separate branch of The Royal Mint on 1 January 1923, named the Pretoria Mint. It operated to produce more of Britain's popular investment gold sovereign coins. Between 1923 and 1932, a total of 83,442,397 South African sovereigns and circulation coinage were minted there. This marked the last overseas branch mint set up by The Royal Mint.

After South Africa severed ties with Britain, the mint closed on 30 June 1941 and rebranded as the South African Mint, gaining worldwide renown for producing the Krugerrand gold bullion coin through the Rand Refinery.

South African Krugerrands

Krugerrands are produced by the South African Mint and the Rand Refinery in South Africa. The success of this gold bullion coin encouraged major mints all over the world to issue their own one-ounce gold coins. In 2017, the mint begin minting this iconic coin in silver for the first time to celebrate 50 years of the Krugerrand gold coin.

History of the Krugerrand

Whilst many gold investors believe the history of The Krugerrand coin started in 1967 the roots of the Krugerrand were planted more than a century ago which was intertwined with wars and the changing role of the gold standard in the global economy.

In 1886, the South African Republic (SAR) made its first discovery of gold. During this period, a substantial number of English-speaking individuals were drawn to the goldfields where the newfound gold was located. This development raised concerns among the Boers, who perceived these newcomers as a threat to their way of life.

Fast forward to after the end of the Second Boer War on May 31, 1902. It wasn't until 1967 that we saw the first release of gold Krugerrands by the South African Mint and Rand Refinery.

Why Invest in Krugerrands?

First issued in 1967, Gold Krugerrands quickly became the most traded one-ounce gold investment coin by the 1980s. With over 60 million ounces sold to date, the Krugerrand stands as the most widely traded and trusted gold bullion coin worldwide, making it an essential addition to any precious metal portfolio.

Gold Krugerrands are VAT-Free and contain 1/12 copper, giving them a distinctive orange-golden tint appearance that enhances their resistance to scratches, unlike pure gold (24 carat) investment coins. Additionally, weighing 33.93 grams, 1 oz Krugerrands typically surpass other world 1 oz gold bullion coins, such as Britain's staple 24-carat gold coin, the Britannia, which weighs 31.21 grams.

One of the Krugerrand's strengths lies in its variety. It offers a wide range of investment gold bullion coin sizes, allowing investors to diversify their portfolios effectively. Few other world bullion coins issued by other countries can match the same level of options.

Shop Krugerrands

Explore our selection of bullion Krugerrand coins, or proof Krugerrand coins, each showcasing the iconic reverse design depicting the South African native Springbok Antelope and the portrait of Paul Kruger, the 5th State President of the South African Republic (SAR) and a prominent political figure in the 19th century.

Do I Pay Tax on Gold Krugerrands?

In the United Kingdom, all investment gold is VAT free. However, as Krugerrands are not legal tender sterling they are liable for capital gains tax (CGT) in the UK if your profit exceeds the CGT threshold for the tax year in which you come to sell them. If you are unlikely to exceed the capital gains tax threshold then the low premiums on Krugers makes them a very attractive investment.

What Is Capital Gains Tax?

Capital Gains Tax (CGT) is a form of levies imposed on the profit garnered from the sale of assets, such as real estate, investments, and collectibles. Read our CGT guide for more information to see what bullion coins are exempt from CGT and the ones which are.

Secondary Market Gold Krugerrands

Your coin will be chosen at random so the date will vary. They coins come supplied loose and you can add a 33mm capsule or gift box to your order in the basket. These are our lowest priced gold 1 oz South African Krugerrand coins.

Minty Gold and Silver Krugerrands

Minty Krugerrands represent our carefully chosen selection of pre-owned bullion coins, available in both gold and silver. These coins are typically in good condition and have been minted in recent years, although it's important to note that this classification does not adhere to traditional grading standards

Live Metal Prices

If you wish to track the instrinsic price of a Krugerrand you can do this on our gold price chart.