Gold Krugerrands South African Gold Krugerrands are an inexpensive gold bullion coin that is widely traded worldwide. First issued in 1967, Krugerrands were the bullion gold coin of choice until superceded in popularity by the advent of the American Gold Eagle. They nonetheless remain one of the most successful of all modern bullion coins. Krugerrands are struck in 22-karat solid gold at the mint in Pretoria, South Africa and are guaranteed to contain exactly one troy ounce of pure gold by the South African government. Although each coin contains 1 troy ounce of pure gold it actually weighs more than one ounce due to the added weight of the alloys added to increase the hardness and durability of the coins.