South African Mint
The South African Mint is the official maker of the South African rand and Krugerrand coins, on behalf of the South African Reserve Bank. These bullion coins all bear the Springbok - the national animal of South Africa.
The mint operates in conjunction with the Rand Refinery, who provide the gold to the South African government for the Krugerrand coins and, in return, are permitted to supply domestically and internationally.
The primary product supplied to us from South Africa is the Krugerrand; the world's first 1oz bullion coin. These were introduced in 1967 and are 22-carat, which is evident by their orange hue. This colouring is due to the alloying of the gold with copper, and has been a signature style for the Krugerrand and the British Sovereign coins for decades.
Following the release of an anniversary proof Silver Krugerrand, the South African Mint authorised a bullion version to be issued in 2018 for annual release.
The Rand Refinery was technically founded in 1909 as the Witwatersrand Co-operative Smelting Works. Its mission was to handle gold and silver by-products from mining work in South Africa.
Following success, the private Rand Refinery was launched in 1920 - three years before the Royal Mint established a mint in South Africa for gold Sovereign coins. Its purpose was to refine gold closer to mining sites, rather than the costly option of shipping unrefined ore to the UK to the Bank of England, which would then be processed by the Royal Mint in London.
Over time it has expanded its services, producing a mix of cast and minted bullion, as well as aiding the gold jewellery industry and offering vault facilities for safekeeping precious metal investments. The Rand Refinery provides all the gold required for coin minting to the South African Mint, and in return is licensed to distribute South African bullion and collectable coinage around the world.
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