Krugerrand 1 oz 1967 gold in original bag

1 oz. Gold Krugerrand 1967 BU = BU/Brilliant Uncirculated (First Krugerrand)

Very special: This is the first Krugerrand bullion coin in gold – First vintage (1967) ever!

Minting quality: Brilliant Uncirculated (BU)

Delivery takes place in the original “SA-Mint paper bag” = untouched and unopened!

The special thing about this is that only the 1967 first mintings were delivered to the first investors with such a “SA-Mint paper bag” at that time. There were a total of 40,000 gold bullion coins, yet only the first were sold in the original paper bags.

A few details:

Mint: Rand Refinery
Preservation: MS (Mint State)
Year of mintage: 1967
Country: South Africa
Fine weight: 1 oz
Gross weight: 33,93g
Fineness: 0.917
Circulation: 40.000
Minting quality: Brilliant Uncirculated (BU)
Packaging: original “SA-Mint paper bag” untouched and unopened

History

A South African gold Krugerrand, dated 1967: the first year this influential bullion coin was issued. The obverse shows a portrait of Boer statesman Paul Kruger, who gave the coin its name: a compound of Kruger and “Rand,” the official currency of South Africa. On the back is a springbok, the national animal of the country. This 1967 Krugerrand is made of 33.93 grams of 22-karat gold. It is not part of the 2017 50th anniversary minting of the 1960s design, but is one of the 40,000 original Krugerrands minted in the mint’s first year of issue.

The Krugerrand has been an enormous success for the Rand refinery, which processes the gold for these coins, and for the South African mint, which strikes all Krugerrands. By 1980, the Krugerrand accounted for more than 90% of the global gold coin market. The success of this bullion coin inspired other countries to mint gold bullion coins such as the Canadian Maple Leaf (introduced in 1979), the American Gold Eagle (1986) and the British Britannia (1987). These alternatives gained popularity as the Krugerrand was the subject of anti-apartheid sanctions in many Western countries in the 1970s and ’80s. Most of the restrictions were lifted after 1991. Today, the Krugerrand has by far the largest sales of all investment gold coins and also mints premium gold coins annually that are sought after worldwide.

What did a Krugerrand cost back then in 1967?

The average price of an ounce of gold on world markets in 1967 was the equivalent of $35.10. A 1 oz. Krugerrand has an average retail markup (premium) at the end customer of 5%. Thus, taking into account the dollar-DM exchange rate at the time, a Krugerrand cost an average of 73.93 euros in 1967.

Edition for the first Krugerrand gold coins

The first Krugerrand was minted by Dr. Nico Diedricks in July 1967. 40,000 bullion coins (also called bullion) and 10,000 proof quality coins were minted.