Gold Bullion Spotlight: The South Africa Krugerrand

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The modern bullion coin market wouldn’t exist without the forerunner that became at one point the world’s most traded bullion unit, the South African Krugerrand. While bullion gold was quite common prior to the Krugerrand’s introduction in 1967, its convenient 1 oz. form offered an easy way to buy, sell, invest, and trade bullion worldwide. With its success, other countries followed suit with their own bullion coin issues.

For the first 12 years, the Krugerrand was issued only in a one-ounce denomination. Both mint state and proof issues were struck, with some early proof pieces released with early cameo experimentations featuring one-sided cameo or deep cameo frosted designs and are often marketed at a premium. In 1980, South Africa embarked on another first with the Krugerrand expanded to include fractional bullion issues of half-, quarter-, and tenth-ounce denominations.

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WCC

1980 fractional proofs have a reported mintage of 60. I never looked very hard but have never seen one.