South African Krugerrand Gold Coins
Gold Krugerrand coins from South Africa were first minted in 1967. The Krugerrand is 22 karat gold, which is 91.67% gold and 8.33% copper. The reason was that the Krugerrand was intended to be a circulating coin, and pure gold would be too soft and would wear easily. The Krugerrand had no denomination, as the value was intended to fluctuate directly with the price of gold.
In 1980, South Africa added several smaller gold coins, including the 1/2oz, 1/4oz and the 1/10oz. Gold Krugerrands are also issued as proof coins for collectors in a limited edition.