CoinED
RSA numismatics
In the global context
When most people think of coins, they picture the ones in their wallets or perhaps some old pocket change tucked away in a drawer. But in the world of numismatics—the study and collection of currency—some coins are more than just money. They are pieces of history, works of art, and, in some cases, global icons. South Africa's numismatic story is especially rich, with coins that reflect the country's economic, political, and cultural milestones. Here's a simple introduction to how South African coins have made their mark on the world.
One of the most famous coins in South African numismatics is the Single 9 Pond from 1899 (PS: it recently sold for over 40 million Rand!) At the time, during the South African War (also known as the Second Anglo-Boer War), the ZAR (Zuid-Afrikaansche Republiek) was under pressure. President Paul Kruger’s government needed to mint coins but couldn’t get new dies from Europe due to British blockades. In a bold move, officials stamped a single 9 into an 1898 coin to mark the new year—1899. This “Single 9” became one of the rarest and most legendary coins in the world.
South African numismatics tells a powerful story of gold, politics, and innovation. From the ultra-rare Single 9 Pond minted in 1899 during wartime isolation, to the 1892 Kruger coins that marked the first modern national coinage, South Africa has long punched above its weight in coin history. The founding of the South African Reserve Bank in 1923 brought formalized monetary policy, paving the way for the 1961 introduction of the Rand when the country became a republic. But it was the Krugerrand, launched in 1967 as the world’s first modern gold bullion coin, that truly put South Africa on the global map—revolutionizing gold investment and inspiring a wave of imitators across the world. Coins from SA are particularly coveted by the coin-loving community.
The silver 1 Rand
Classic
Currency
In 1965 a silver one Rand was released as legal tender. This was a coin consisting of 80% pure silver. The South African mint produced these silver coins until 1969, with 1969 being the last year.
From 1970 onwards, one Rand coins were struck in nickel and made with a noticeably smaller diameter. Silver one Rands are popular in any condition among collectors and investors for their silver value.
The Krugerrand
Timeless Wealth
The Krugerrand, the world's most widely held gold bullion coin, was first minted in 1967 by the South African Mint and Rand Refinery. It was designed to facilitate private ownership of gold and promote South African gold. This was the first coin of its kind in the world!
The coin contains 1 troy ounce of pure gold, that is, 31.1g. This gold is suspended in a 22ct alloy resulting in a total coin weight of 33.93g. The value of a 1 Oz Krugerrand is dependent on the gold trading price each day which has proven to steadily increase relative to paper money.
The coin honoured Paul Kruger, a former President of the South African Republic, by featuring his bust on the obverse. President Kruger introduced the first official state currency of South Africa.
Specialized Krugerrands
Early Krugerrands from 1967, '68 and '69 are particularly desirable.
In 1980 the South African mint introduced the fractional Krugerrands. These coins contained a- half Oz, quarter Oz and tenth Oz of gold respectively. This made it more accessible to the public due to more manageable trading prices.
In 2017, for the 50th anniversary of the gold Krugerrand, a silver Krugerrand was introduced. The silver Kruger is much larger than its gold counterpart and contains 31.1g of pure silver.
Other fractional gold Krugers were additionally introduced in 2017, namely the twentieth Oz and tiny fiftieth Oz! These are primarily for collectors and carry significant premiums.