The South African Krugerrand was first released in 1967. For the first 20 years of its existence, it dominated the gold bullion market, and is still the most widely held gold coin in the world today. The obverse of this 22kt coin depicts Paul Kruger, President of the original South African Republic from 1883 to 1902, and the reverse shows the springbok, the national animal of South Africa. The coin is 22 karat gold, containing 1 full ounce of 24 karat gold, plus copper & silver alloys. 33.9 grams. The greater popularity of other bullion coins has caused its premium over content to drop over the last ten years. Like all bullion coins, these coins are sold for the price of gold contained plus a small premium to cover the cost of manufacturing, marketing, and distribution.
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