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Montpellier Antiques
Harrogate
The Krugerrand was the first bullion coin that could be used as legal tender at the market value of its face gold content. Earlier gold coins such as the gold sovereign had a tender value in currency engraved on their face which could differ significantly from their market value. The Krugerrand was the first gold coin to contain precisely one ounce of fine gold and was intended from the moment of creation to provide a vehicle for the private ownership of gold. By making the coin legal tender, Krugerrands could be owned by citizens of the United States, which at that time prohibited private ownership of bullion but allowed ownership of foreign coins.
Krugerrands are minted from gold alloy that is 91.67 percent pure (22ct gold), the actual weight of a "one ounce" coin is 1.0909 troy ounces (33.93 g), to provide one troy ounce of pure gold. The remainder of the coin's mass is made up of copper (2.826 grams), giving the Krugerrand a more orange appearance than silver-alloyed gold coins.