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The Krugerrand (/ ˈkruːɡərænd /; [1] Afrikaans: [ˈkry.ərˌrant]) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. [2][3] The name is a compound of Paul Kruger, the former President of the South African Republic (depicted on the obverse), and ...
The rand was introduced in the then Union of South Africa on 14 February 1961, shortly before the establishment of the Republic on 31 May 1961. The rand replaced the pound with a decimal currency: 100 cents (100c) = 1 rand (R1), 1 rand being valued at 10 shillings and 1 cent at 1.2 pence. The coins bore the forward-facing portrait of Jan van ...
Kruger Millions. Paul Kruger, President of the South African Republic from 1883 to 1900. The Kruger Millions is a legendary hoard of gold reputed to have been hidden in South Africa or sent overseas by or on behalf of President Paul Kruger to avoid it being captured by the British during the Second Boer War. [1]
The South African Mint is responsible for minting all coins of the South African rand on behalf of its owner, the South African Reserve Bank.Located in Centurion, Gauteng near South Africa's administrative capital Pretoria, the mint manufactures coins and planchets for both domestic and international markets.
The 1 rand coin for circulation was introduced in 1967, followed by 2 rand coins in 1989 and 5 rand coins in 1994. Production of the 1 and 2-cent coins was discontinued in 2002, followed by 5-cent coins in 2012, primarily due to inflation having devalued them, but they remain legal tender.
minted coins; coin blanks and medallions; semi-fabricated products for the jewellery manufacturing industry; By law, the South African Mint Company is the only company allowed to manufacture South African legal tender coins such as the world-famous Krugerrand. Rand Refinery supplies all the gold used to manufacture the coins.
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