The Krugerrand was first minted in South Africa, in 1967, and was originally intended to circulate as currency, hence it was minted with 90% gold and 10% copper alloy by weight.

It does contain one ounce of gold.

It is one of the few bullion coins with no legal tender marking or nominal value. It, therefore, trades solely with the spot market.

It is produced in fractional sizes also, in 1/2, 1/4 and 1/10th ounce sizes.