2008 Krugerrand

The South African Mint Mint has chosen to launch the 2008 Krugerrand - the world's most renowned gold coin - in the Kruger National Park. The Kruger National Park is celebrating its 110th birthday this year and the Krugerrand and the Kruger National Park both have their roots embedded in the vision of one man.

Stephanus Johannes Paulus Kruger (1825-1904) was a leader with enigma - an intriguing mixture of stubbornness, ruthlessness, compassion, conservatism and pragmatism all rolled into one. Elected as President of the ZAR (Zuid Afrikaanshe Republiek) for four successions until his exile in 1901 after the Anglo Boer War, he proved without doubt to be a leader of vision when the Boer Republic needed it most.

Two of these visions have played a major role in South African history. One was Kruger's recognition for the need of the Republiek's own currency and the other was to protect and preserve the dwindling herds of wildlife by proclaiming the establishment of a "Government Reserve" in the Transvaal's eastern Lowveld.

Both these visions were challenged by the Volksraad (Government) and his political enemies but the adamant and resilient President continued to pursue his beliefs which were eventually realised.

The design of the 22 ct gold Krugerrand which was first struck in 1967 at the South African Mint, was based on its historical predecessor, the Kruger Pond. The obverse of the Krugerrand bears the effigy of President Paul Kruger which was struck from the original die used in 1892 for the Kruger half-crown coins. The reverse of the Krugerrand portrays the Springbok, a well-known South African symbol. The reverse was designed and engraved by the famous South African sculptor, Coert Steynberg. It is interesting to note that the large sculpture of Paul Kruger at the Skukuza entrance of Kruger National Park, was sculptured by Coert Steynberg as well!

This special Launch coin set which was manufactured especially for the occasion and the design of the mintmark on the 1 oz Krugerrand, depicts the official KNP logo and the words "110 Anniversary". The SA Mint launch sets are usually reserved well before the time but this time, 110 sets have been set apart especially for visitors to buy during this celebration week. Order forms will be available at the entrance gates to the Park and will be strictly sold on a first-come, first-serve basis.

Background and Technical Information on the Krugerrand

Background

Gold has been a trusted store of value for thousands of years. In spite of times of erratic gold prices and values, the magnetism of owning gold as a form of insurance to preserve a man's wealth, has persisted for centuries. South Africa ranks among the very few countries where gold coins have been minted as negotiable currency and still remains available for general purchase - allowing South Africans to own a share in their country's production of fine gold.

This unique concept culminated in 1967 when the South African Mint introduced the handsome new coin of 1-ounce troy fine gold and the first Krugerrand was struck at the South African Mint on 3 July 1967 for a princely sum of R27.00!

The design of the Krugerrand is rooted in the discovery of the rich goldfields of the Witwatersrand in 1886. This discovery led to tremendous prosperity and enrichment of the ZAR (Zuid Afrikaansche Republiek) resulting in the ZAR's Volksraad establishment of a bank, a mint and the passing of the 'Mint Act' in 1891. With the huge influx of treasure seekers and part of an election campaign, the ZAR president, Paul Kruger, decided that the quick introduction of coins for the Republic minted with his image, would be an excellent public relations manoeuvre. The new coinage was based on the British coins of the time: the Pound and Half Pound in gold; the Crown, Half Crown, Florin, Shilling, Sixpence and Tickey in silver; Penny, Half Penny and Quarter Penny in bronze. The last two coins were never minted.

The gold Kruger ponde were manufactured in 22 carat gold, as is its modern counterpart. The Krugerrand which is made in mass bullion and limited edition proof quality, is still without doubt one of the world's most popular gold coins known to investors, coin collectors and the general public alike.

Specifications of the Krugerrand