Complete Guide to the South African Mint

By GovMint: 

Welcome to our guide! We’ll cover everything you need to know about the South African Mint, including its history, the coins they’ve produced, collaborations and partnerships, and coin-collecting tips.

Table of Contents

• The History of the South African Mint
• What Does the South African Mint Do?
• What Coins Are Minted in South Africa?
• Does South Africa Still Mint Krugerrands?
• Are Krugerrands Illegal to Own in the US?
• Collaborations and Partnerships
• Collecting South African Coins
• How to Start Collecting South African Coins
• How to Preserve and Store South African Coins
• What to Avoid When Collecting South African Coins
• Where to Buy South African Coins

The History of the South African Mint

Established in 1892, the South African Mint has a long and rich history spanning over 130 years. Paul Kruger, South Africa’s then-president, founded the mint in response to the Witswaterand gold rush and to help address the country’s coin shortage. Establishing a mint gave South Africa the means to produce its own currency and boost gold exports, taking advantage of the ongoing gold rush.

However, after the end of the South African War (1899-1902), the British Empire annexed South Africa, taking control over the mint and reinstitutionalizing it as a branch of The Royal Mint in 1923. The Royal Mint branch in South Africa ceased issuing its Sovereign coins in 1932, but it wasn’t until South Africa severed ties with Great Britain in 1941 that The Royal Mint branch officially closed and the South African Mint reopened.

What Does the South African Mint Do?

The South African Mint mints coins and produces legal tender for South Africa and various countries. It also handles the production of gold and silver bullion, commemorative coins, investment coins, and other collectible coins. In its lifetime, the South African Mint has produced many limited-edition collectible coins using a variety of precious and non-precious metals, including gold, silver, and platinum.

What Coins Are Minted in South Africa?

The South African Mint produces a variety of prominent collectible and circulating coinage including:

• 10 cent - 1961 to present
• 20 cent - 1961 to present
• 50 cent - 1961 to present
• 1 Rand coin - 1961 to present
• 2 Rand coin - 1961 to present
• 5 Rand coin - 1961 to present
• Gold Krugerrand - 1967 to present
• Shillings - 1 shilling 1892
• Gold Sovereign - 1925-1930
• Natura series - 1994-present 
• Silver Krugerrand –2018-present 
• The Big 5 Series I,II, and III - 2019-present 
• 2024 Krugerrand Oom Paul Krugerrands—2024

Does South Africa Still Mint Krugerrands?

Yes, the South African Mint continues to issue Krugerrands to this date. The Mint has issued Gold Krugerrands from 1967 to the present, while the Silver Krugerrand has been issued from 2017 to the present. 

In 2024, the South African Mint struck the final Krugerrands on the historic Oom Paul press, which was the first press that struck Krugerrands in 1967.  However, this historical press will be preserved and sent to a museum for safekeeping, and Krugerrands will continue to be minted, just no longer on the Oom Paul press.

Are Krugerrands Illegal to Own in the US?

US citizens have been allowed to buy, sell, and hold Krugerrands since the first ones were minted in 1967. Some believe owning Krugerrands is illegal because in 1967, the Gold Reserve Act of 1934 was still in effect which banned citizens from holding or owning gold bullion. However, it allowed US citizens to hold and own foreign coins, including the Krugerrand. 

In 1985, the United States imposed an import ban on Krugerrands as part of its response to South Africa’s apartheid policies—a political system characterized by racial segregation and discrimination. This ban formed part of a broader package of economic sanctions targeting South Africa. Although possessing Krugerrands in the US remained legal, the ban effectively prohibited new coins from being brought into the country. These economic sanctions ceased in 1994 with the end of apartheid.

Collaborations and Partnerships

The South African Mint has partnered with institutions to create new collectible coins and make it easier to acquire them. For example, the South African Mint, in collaboration with the South African Reserve Bank (SARB), created six new commemorative circulation coins to celebrate South Africa’s 25 years of democracy. The South African Mint has also partnered with GovMint, a certified distributor, to allow collectors to acquire the Limited Edition 2024 Proof Oom Paul Press Krugerrands. Collectors can buy these 2024 Proof Krugerrands from GovMint, knowing their coins are authentic and of high quality.

Collecting South African Coins

If you’re thinking about starting your own collection of South African coins, you’ll want to follow these tips. We’ll focus on how to start collecting South African coins, how to preserve and store them, and what to avoid.

How to Start Collecting South African Coins

Coin collecting can be a rewarding and enjoyable experience, particularly if you enjoy collecting a piece of history or art. Starting a coin collection will require a few steps, especially if you’re just starting. Use the following steps to help guide you through this beginning phase:

• Define which coins to collect: Determine which coins you are interested in based on historical significance, artistic appeal, or other criteria.
• Research coins: Take some time to research the different South African coins available, including their historical context, condition, and other factors, like mintage. 
• Establish a budget: Set a reasonable and realistic budget for your coin collecting hobby. Consider factors such as the cost of acquiring coins, storage supplies, and additional equipment.
• Start small: Begin your collection with a modest selection of coins to avoid overwhelming yourself. Gradually build your collection over time.
• Choose quality over quantity: Prioritize coins in good condition with clear details and minimal wear. 
• Verify authenticity: Double-check to ensure the coins you want to buy are authentic, especially from sellers or coin dealers. Use trustworthy sources and experts if needed.

How to Preserve and Store South African Coins

Whether you’ve purchased silver or gold coins from the South African Mint, you must preserve and store them properly to prevent them from getting scratched or damaged. Consider storing your South African coins in a coin album or protective holders. Never store them loosely in a bag or box; they will easily rub and scratch each other, potentially affecting their eye appeal. 

Avoid handling your coins with your bare hands to prevent oils from getting onto your coins. The oils can end up tarnishing or staining their surface over time. Instead, wear gloves or hold your coins by their rim.

What to Avoid When Collecting South African Coins

Here are some of the biggest pitfalls that coin collectors should watch out for when building their collection of South African coins:

• Diving into the hobby without adequate research - Failing to research can lead to costly mistakes, such as overpaying or purchasing fake coins.
• Cleaning coins - Cleaning your coins can cause more harm than good by damaging the surface. Leave the coin in its original state, or seek a professional instead.
• Buying fake coins - This pitfall ties into the first point. Not doing your research can lead you to buy counterfeit coins by accident. Always buy from a certified and trusted seller or coin distributor.
• Buying coins in terrible condition - A coin’s condition can potentially impact its numismatic appeal. Be wary of coins with excessive wear, damage, or cleaning marks, as these can detract from their desirability.
• Buying impulsively - Building a quality collection of South African coins takes time and careful consideration. Resist the urge to buy a coin without first researching and evaluating your desired coin. This advice will also help you to avoid overspending, especially on coins that may not meet your interests or objectives.

Where to Buy South African Coins

That’s it! We’ve covered everything you need to know about the South African Mint and how to begin your coin collection with some simple tips. If you want to buy authentic South African coins safely, then GovMint is the perfect choice. We’re one of the largest collectible coin marketers and are proud to sell authentic gold and silver coins, including Krugerrands and other South African coins. Shop today to start your collection.

If you enjoyed this guide, be sure to check out the rest of our collection guides:

Guide To Collecting Pennies

Guide To Collecting Wheat Pennies

Guide To Collecting Steel Pennies

Guide To Collecting Half Dollars 

Guide To Collecting Silver Dollars

Guide To Collecting Gold Eagles 

Guide To Collecting Gold Coins

Sources: 

https://www.samint.co.za/celebrating-30-years-of-the-mint-in-centurion/

https://www.britannica.com/event/South-African-War

https://www.royalmint.com/stories/collect/the-history-of-branch-mint-sovereigns/

https://en.numista.com/catalogue/mint.php?id=1872

https://www.samint.co.za/about-us/

https://www.resbank.co.za/en/home/what-we-do/banknotes-and-coin/Coins

https://en.numista.com/catalogue/pieces833.html 

https://en.numista.com/catalogue/pieces1765.html 

https://en.numista.com/catalogue/pieces832.html 

https://en.numista.com/catalogue/pieces831.html 

https://en.numista.com/catalogue/pieces14740.html 

https://en.numista.com/catalogue/pieces22080.html 

https://www.numismaticnews.net/archive/krugerrand-right-idea-right-time

https://americanhistory.si.edu/collections/nmah_1949813

https://www.ngccoin.com/price-guide/series-detail.aspx?MVDetailID=154&Series=South-Africa-Gold-Sovereign

https://www.samint.co.za/the-south-african-mint-announces-big-five-coin-program/

https://finance.yahoo.com/news/south-african-mint-issuing-final-160000707.html

https://coinweek.com/krugerrand-the-embargoed-bullion-coin/

https://www.engineeringnews.co.za/article/commemorative-coin-series-launched-to-celebrate-south-africas-25-years-of-democracy-2019-06-05

https://www.newswire.com/news/the-south-african-mint-is-issuing-a-final-limited-edition-gold-22232944