The Krugerrand is a South African gold coin. Krugerrands were first minted in 1967 to help market South African gold. The coins have legal tender status in South Africa, but are not intended to be used as currency. New Krugerrands are issued by the South African Reserve Bank (SARB) and are available from certain banks and specialist outlets. The JSE offers trading in Krugerrands through a well regulated secondary market and are traded in the same way as any listed Equity Market instrument, with prices being quoted on the various types (weights) of coin.

Who is this for?

Krugerrands appeal to professional and private investors who wish to make a direct investment in gold bullion, hedge their portfolios against the US dollar or to further diversify their portfolio.


  • Your investment is in physical gold and is not dependent on the performance of a gold mine.
  • Gold has a low to negative correlation with other asset classes, making it an effective portfolio diversifier.
  • Gold has a positive track record in terms of returns and has increased in value because it is a non-renewable natural resource.
  • Gold serves as a rand hedge against the US dollar.
  • The gold market is very liquid.
  • If the gold price changes, so does the price of the Krugerrand.

How to get The Krugerrand

  • Open a brokerage account with a JSE Equity Market member.
  • Visit a Krugerrand specialist outlet.
Related documents