The South African Mint was founded in
Pretoria in 1886 by President Paul Kruger, who now adorns the
obverse of the most famous South African coin of them all.
However, long before the first Krugerrand was struck, the mint was
actually run by Britain's Royal Mint (until 1941) and as a result
saw over 83 million Gold Sovereigns struck there.
It was not until 1964 that the concept of a gold bullion coin
for the private ownership of the public emerged, which resulted in
the first Krugerrand being struck in 1967. Up until the early
1980's, this mass market gold bullion coin concept was so popular
that it made up 89% of the World's entire coin bullion industry.
This explains then why the Krugerrand is so often at the
forefront of people's minds when gold coins are mentioned.
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