22karat 1/10TH KRUGER RAND
The first 1 oz Krugerrand was struck on 3 July 1967 as a vehicle for private ownership of gold. Unusually for bullion coins, the Krugerrand was given the status of legal tender.
There is no record of their face value on either side of the coin as their value is directly linked to the prevailing value of their fine gold content.
By 1980 the Krugerrand accounted for 90% of the global gold coin market. South Africa introduced three smaller coins in 1980 – a half ounce, quarter ounce, and tenth ounce of gold.
To date some 48 million ounces of fine gold contained in newly minted Krugerrands have been sold worldwide. This equates to more Krugerrands in circulation internationally than all other gold coins combined