1 oz Krugerrand Mixed Years Grade I — the world's oldest bullion coin from Rand Refinery
1 oz Krugerrand Mixed Years Grade I is a gold bullion coin from the Rand Refinery in South Africa with a fineness of 916.7/1000 (Crown Gold, 22 karat) and a mass of 31.103 g of fine gold (gross mass 33.93 g due to the copper alloy). The Mixed Years Grade I variant covers a randomly selected vintage from the dealer's warehouse in a preservation condition without visible damage to the main surface.
The Krugerrand is the world's oldest bullion coin, struck continuously since 1967 — introduced by the South African Mint in Pretoria as the first modern gold bullion coin addressed to private buyers. The LBMA Good Delivery accreditation of the Rand Refinery (since 1965) confirms the global status of the production, and the characteristic Crown Gold alloy provides greater physical durability compared to coins of 999.9 fineness.
Technical specification
| Parameter |
Value |
| Product type |
Bullion coin |
| Manufacturer |
Rand Refinery (refining) / South African Mint (minting) |
| Manufacturer location |
Germiston / Pretoria, South Africa |
| Refinery founded |
1920 |
| Precious metal |
Gold Au + Copper Cu (Crown Gold) |
| Fineness |
916.7/1000 (Crown Gold, 22 karat) |
| Fine gold mass |
31.103 g (1 troy oz) |
| Gross mass |
33.93 g (with copper alloy) |
| Diameter |
32.69 mm |
| Thickness |
2.84 mm |
| Form |
Minted coin |
| Face value |
None — bullion coin without face value |
| Vintage |
Mixed Years (random from warehouses) |
| Condition |
Grade I (without visible damage to main surface) |
| First minted in series |
1967 |
| Obverse designer |
Otto Schultz (portrait of Paul Kruger, 1892) |
| Reverse designer |
Coert Steynberg (springbok, 1947) |
| Packaging |
Protective capsule |
| Accreditation |
LBMA Good Delivery (Rand Refinery since 1965) |
| VAT |
Exempt under Council Directive 98/80/EC |
Why this product?
- 31.103 g of fine gold of 916.7/1000 fineness (Crown Gold, 22 karat) in the classic 1 troy oz format — the world's oldest modern bullion coin
- Rand Refinery — a gold refinery with LBMA Good Delivery accreditation since 1965, one of the world's largest gold producers
- Crown Gold alloy — 91.67% gold + 8.33% copper — provides greater physical durability and the characteristic gold-copper hue
- Grade I variant — vintages verified for the absence of visible damage to the main surface, an alternative to the current vintage
- 59 years of continuous production — the Krugerrand is the longest-struck modern bullion coin in the world, with the largest global supply among classic issues
History of the Krugerrand
The Krugerrand was introduced in 1967 by the South African Mint in response to the strategic need to monetise the Republic of South Africa's gold reserves. The country was then the world's largest gold producer (over 70% of global production in the 1960s), and the Krugerrand became the first modern gold bullion coin addressed directly to private buyers. The initiative preceded the appearance of competing issues by over a decade — the Maple Leaf debuted in 1979 and the Vienna Philharmonic in 1989.
The characteristic Crown Gold alloy (916.7/1000 pure gold + 83.3/1000 copper) refers to the traditional British sovereign standard, used by the Royal Mint since 1817. The choice of this recipe for the Krugerrand was not accidental — the addition of copper gives the coin greater mechanical durability and the characteristic gold-reddish hue, distinguishing the Krugerrand from competing issues in pure 999.9 gold. The fine gold content is exactly 1 troy oz (31.103 g) — the gross weight with the copper addition is 33.93 g.
In the years 1981-1993 Krugerrand production was drastically restricted due to international sanctions imposed on South Africa during the apartheid era — from 6 million ounces in 1980 to less than 25,000 ounces per year in 1989-1993. After the lifting of sanctions in 1994 production returned to the typical level of 1-2 million ounces per year. Sanctions vintages are today a collector rarity and are typically not found in the Mixed Years variant — which concentrates on post-sanctions vintages (1995-2024).
The total production of the Krugerrand since 1967 exceeds 50 million ounces of gold — making it the most widespread modern gold bullion coin in the world. The scale of production translates into the largest global liquidity and universal recognition on the secondary market — the Krugerrand is accepted by dealers on every continent as a comparative standard for other 1 oz coins.
The Rand Refinery, responsible for refining gold for the Krugerrand, has held LBMA Good Delivery accreditation since 1965 — one of the oldest active accreditations among gold refineries in the world. The refinery, located in Germiston (South Africa), is one of the largest globally and handles a significant share of gold production from Sub-Saharan Africa.
Obverse — portrait of Paul Kruger
The obverse of the Krugerrand presents the portrait of Paul Kruger (1825-1904) — President of the Transvaal Republic from 1883 to 1900, the historical figure whose name gave the coin its name. The portrait was designed by Otto Schultz in 1892 for circulation coins of the Transvaal Republic and was adapted in 1967 for the new bullion series. Around the portrait is the inscription SUID-AFRIKA SOUTH AFRICA — in Afrikaans and English, both official languages of South Africa.
The choice of Paul Kruger as the coin's patron resulted from his historical significance for the Republic of South Africa — Kruger was a symbol of resistance to British domination during the period of the Boer War (1899-1902). Schultz's portrait remains unchanged throughout the entire production history of the Krugerrand since 1967 — which is characteristic of classic bullion numismatics, where constant iconography facilitates authenticity verification and builds universal recognition.
Reverse — springbok and security features
The reverse of the Krugerrand presents a leaping springbok — the national animal of the Republic of South Africa — in a design by Coert Steynberg from 1947. The design was originally created for the 5 shilling circulation coin (1947) and was adapted in 1967 for the bullion series. Around the central motif is the inscription KRUGERRAND, the year of minting (different for each coin in the Mixed Years variant), and the mass designation: FYNGOUD 1 OZ FINE GOLD.
The Krugerrand has an edge security feature in the form of a reeded rim with 220 serrations — this element makes processing more difficult and helps in authenticity verification. The characteristic gold-copper hue of the coin, resulting from the Crown Gold alloy, is also an identification element — it distinguishes the Krugerrand from coins in pure 999.9 gold (Maple Leaf, Vienna Philharmonic, Britannia) with a light-gold hue. Mass, diameter and thickness are consistent throughout the production history since 1967.
What to watch for when buying
The Mixed Years Grade I variant does not allow selection of a specific vintage — the coin comes from the dealer's current stock and its year of minting is random within a range typically covering post-sanctions vintages 1995-2024. Customers interested in a specific vintage (e.g. the first 1967 issue or jubilee vintages) should consider buying a single vintage issue, which however has a higher price.
Grade I denotes a coin in a preservation condition without visible damage to the main surface (obverse/reverse) — full mirror finish, no visible scratches in the area of Kruger's portrait and the springbok. Minor circulation marks on the edge are acceptable and result from the characteristics of the Crown Gold alloy — the harder alloy with copper preserves the main surface even with careful contact with other coins.
Bullion product status: the Krugerrand meets the European requirement of a minimum of 900/1000 for VAT-exempt bullion coins (the 916.7 fineness exceeds the minimum). The exemption is regulated by Council Directive 98/80/EC. The Rand Refinery has held LBMA Good Delivery accreditation since 1965, confirming the global status of production.
The Krugerrand does not have legal tender status — unlike the Maple Leaf, Britannia or Kangaroo, the coin does not bear a face value. The role of legal medium on the secondary market is, however, played by the Krugerrand name itself and the characteristic iconography — the coin is accepted by dealers worldwide as a standard equivalent of 1 troy oz of gold of 916.7 fineness.
Why GoldInvest24?
- Manufacturers with LBMA Good Delivery accreditation — Perth Mint, Royal Canadian Mint, The Royal Mint, Münze Österreich, Rand Refinery, PAMP Suisse, Argor-Heraeus, Heraeus, Umicore, Valcambi
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- Access to current precious metals quotations — Precious metals prices updated continuously
- Full precious metals categories in one shop — gold, silver, platinum and palladium in coin and bar format
Comparison table — 1 oz gold bullion coins with LBMA Good Delivery
| Coin |
Manufacturer |
Fineness |
Fine gold mass |
Reverse |
Status |
| Krugerrand 1 oz |
Rand Refinery |
916.7 (Crown Gold) |
31.103 g |
Springbok (constant since 1967) |
LBMA |
| Kangaroo 1 oz |
Perth Mint |
999.9 |
31.103 g |
Annually changing |
LBMA |
| Maple Leaf 1 oz |
Royal Canadian Mint |
999.99 |
31.103 g |
Maple leaf (constant) |
LBMA + Bullion DNA |
| Vienna Philharmonic 1 oz |
Münze Österreich |
999.9 |
31.103 g |
Organ + 8 instruments |
LBMA |
| Britannia 1 oz |
The Royal Mint |
999.9 |
31.103 g |
Britannia (P.J. Lynch 2018) |
LBMA + CGT-free UK |
FAQ — frequently asked questions
What characterises the 1 oz Krugerrand Mixed Years Grade I?
It is a gold bullion coin from the Rand Refinery (South Africa) with a fineness of 916.7/1000 (Crown Gold, 22 karat) and a mass of 31.103 g of fine gold. The Mixed Years Grade I variant covers a randomly selected vintage from the dealer's stock, verified for the absence of visible damage to the main surface.
What is the fineness, mass and diameter of the coin?
Fineness 916.7/1000 (Crown Gold, 22 karat), fine gold mass 31.103 g (1 troy oz), gross mass 33.93 g (with copper alloy), diameter 32.69 mm, thickness 2.84 mm. The Crown Gold alloy provides greater mechanical durability compared to coins in pure 999.9 gold.
Who designed the obverse and reverse of the Krugerrand?
The obverse (portrait of Paul Kruger) was designed by Otto Schultz in 1892 for coins of the Transvaal Republic — adapted for the Krugerrand in 1967. The reverse (springbok) was designed by Coert Steynberg in 1947 for the 5 shilling circulation coin — also adapted in 1967. Both motifs remain unchanged throughout the production history.
Krugerrand vs Maple Leaf — what's the difference?
The Krugerrand has 916.7/1000 fineness (Crown Gold with copper alloy) and the characteristic gold-copper hue; the Maple Leaf has 999.99/1000 fineness (pure gold) and a light-gold hue. Fine gold content is identical in both (31.103 g). The Krugerrand is heavier in gross weight (33.93 g vs 31.103 g) and more mechanically durable due to the alloy with copper.
Who is the Krugerrand 1 oz a good choice for?
For people looking for a classic 1 oz bullion coin with the largest global supply (50+ million ounces minted since 1967) and universal recognition on the secondary market. The Mixed Years Grade I variant works as an alternative to the current vintage when a specific year of minting is not important.
Is the Krugerrand 1 oz VAT-exempt in the EU?
Yes. The 916.7 fineness exceeds the required minimum of 900/1000 for gold bullion coins under Council Directive 98/80/EC. The Rand Refinery has held LBMA Good Delivery accreditation since 1965, which additionally confirms the bullion product status.
How to buy the Krugerrand 1 oz at GoldInvest24?
The Krugerrand is available in the Gold Coins category together with other weights of the series (1/10, 1/4, 1/2 oz). The current price can be compared with quotations in the Precious metals prices section. The shop is run in PL/DE/EN language versions.
1 oz Krugerrand Mixed Years Grade I is available at GoldInvest24 in the Gold Coins category. The full range of series weights and current gold quotations are available in the Precious metals prices section.