South Africa

South Africa gold coin 1/4 oz Krugerrand, dated 1980 The Quarter Krugerrand, or quarter-ounce (1/4 oz) Krugerrand gold coin, is part of the extensive range of Krugerrand coins which has its beginning in 1967 and is produced by Rand Refinery together with the South African Mint. The original (one ounce gold) Krugerrand is the first modern bullion coin. Although gold Krugerrand coins have no face value, they are considered legal tender in South Africa; however, unlike bullion coins issued by other countries, their legal tender denomination - also known as face value - is not fixed and varies depending on the current price of gold, so is not inscribed on the coin.