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<p>[QUOTE=&quot;Clinker, post: 201369, member: 6229&quot;]Of course, you know a &quot;Krugerrand&quot; is a gold bullion coin minted by South Africa<b>, But</b> do you know how it got it&#039;s name?</p><p>&nbsp;</p><p>Johannesburg is built on the site where most of South Africa&#039;s gold deposits were found. The African word for the site is <i>Witwatersrand </i>which translates to White-waters-ridge.</p><p>&nbsp;</p><p>In 1961, coinciding with the establishment of the Republic of South Africa, the<i> pound </i>was replaced by a new monetary unit, the <i>rand</i>.</p><p>&nbsp;</p><p>With all the gold mined from the ridge, something had to be done with it. They came up with an ingenious way to market the gold..</p><p>&nbsp;</p><p>It was decided to create a gold coin that contains a full ounce of gold.</p><p>&nbsp;</p><p>This new gold coin would not have a denomination on it.</p><p>&nbsp;</p><p>In order to be able to sell the gold coins to United States of America citizens, they gave the coin &quot;legal tender&quot; status in South Africa.</p><p>It would was introduced to the world in 1967.</p><p>That coin is the &quot;Krugerrand&quot;:</p><p>&nbsp;</p><p><font face="Times New Roman">The &quot;Krugerrand&quot; gets its name from the fact that the obverse shows the face of Paul Kruger, the first president of the old South African Republic. The reverse depicts a springbok antelope, one of the national symbols of South Africa that was designed by George Kruger Gray and used on the reverse of the earlier 5 shilling South African coinage for King George VI and Queen Elizabeth II. The name &quot;South Africa&quot; and the gold content are printed in both Afrikaans and English.</font></p><p><font face="Times New Roman">&nbsp;</font></p><p><font face="Times New Roman">The success of the &quot;Krugerrand&quot; led to many other gold-producing nations minting their own bullion coins, including the Canadian Gold Maple Leaf in 1979, the Australian Nugget in 1981, and the American Gold Eagle in 1986.</font></p><p><font face="Times New Roman"></font>Here&#039;s a photo link:</p><p><a href="http://worldcoingallery.com/countries/coin.php?image=img11/151-73&amp;desc=South%20Africa%20km73%201%20Krugerrand%20(1967%2B)%201%20ounce%20gold%20bullion" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://worldcoingallery.com/countries/coin.php?image=img11/151-73&amp;desc=South%20Africa%20km73%201%20Krugerrand%20(1967%2B)%201%20ounce%20gold%20bullion" rel="nofollow">http://worldcoingallery.com/countries/coin.php?image=img11/151-73&amp;desc=South%20Africa%20km73%201%20Krugerrand%20(1967%2B)%201%20ounce%20gold%20bullion</a></p><p>&nbsp;</p><p>Clinker[/QUOTE]</p><p><br /></p>

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