The design of the Gold Krugerrand coin has remained largely unchanged since its inception in 1967. The coin features a profile of Paul Kruger, a former South African president, on the obverse side, and a springbok antelope on the reverse side. The Krugerrand series underwent an updated design change on the reverse in 1982, with differences mainly being on the springbok design.
The Krugerrand coin is made of an alloy of gold and copper, which makes it durable and resistant to wear. Originally, there was only one-ounce gold Krugerrand coin, but the mintings now include the production of 1/2-ounce, 1/4-ounce, and 1/10-ounce coins.
The updated design change on the reverse of the Gold Krugerrand coin in 1982 did not have a significant impact on its popularity. The Krugerrand coin was specifically produced to offer an easy means for private investors to access the gold bullion market, and it exceeded expectations and was wildly successful. It quickly became the most popular gold bullion coin worldwide, and by the end of the 1970s, the term “Krugerrands” was largely synonymous with “gold coins.” Krugerrands became especially popular with U.S. gold investors, as the commodities markets enjoyed a major bull market during the 1970s.
The price of gold soared to over $2,200 an ounce by the end of the decade – a price level it would not approach again until 2011. By 1980, Krugerrands accounted for 90% of the world’s gold bullion market. The popularity of the Krugerrand fluctuated during the 1980s and 1990s due to the global concern about the South African policy of racial segregation known as apartheid. However, the Krugerrand remains a popular investment option for gold investors who wish to make a direct investment in gold bullion, hedge their portfolios against the U.S. dollar, or further diversify their portfolio.