The first ever gold bullion coin offered as a means for private ownership of gold was introduced in 1967, the 1oz 22-karat gold (.9167) South African Krugerrand. These copper-gold alloy coins were also the first bullion coins issued a legal tender status. However, there is no face-value denomination attributed to the coin itself. Fashioned by Coert Steynberg, the reverse of the coin depicts a springbok antelope, the national animal of South Africa. The obverse displays an effigy of Paul Kruger, President of the South African Republic, from 1883 until 1900. During his presidency discovery of the first gold fields in the Witwatersrand area of Johannesburg was made, resulting in the establishment of a national mint. These gold bullion coins are minted today in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz options.
