Finance

New gold coins which are legal tender in South Africa

Shaun Jacobs • 22 April 2026

Finance Minister Enoch Godongwana has gazetted the design of several new gold and silver coins that will be issued in South Africa over the coming years.

These coins that will be designed and produced by the South African Mint include a series on the Big 5, The Odyssey, African Range, the Chinese Lunisolar Calendar, and the Colours of Africa.

The coins will have varying values depending on their metal content, mass and diameter. All will be legal tender in South Africa in the same way Krugerrands are.

South Africa has a rich history of designing and minting collectable coins made of precious metals, with Krugerrands being the most traded form of physical gold in the world.

The price of a one-ounce coin is tracked by financial institutions and traded as a proxy for gold on financial exchanges around the world.

First minted in July 1967, the Krugerrand has become increasingly valuable due to the price of gold and for the collectability of various editions.

The coin, due to its relative ease of trading between individuals and investors, became a global phenomenon almost overnight.

By 1980, the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for most investors buying gold.

For the coin’s 50th anniversary in 2017, the South African Mint revealed that over 53 million troy ounces of gold Krugerrands have been sold since their launch. This equates to around 60 million individual coins.

The coins were first sold as only one-ounce variants, with the Mint gradually introducing smaller denominations in the 1980s and 1990s. The silver Krugerrand was launched in 2017 to commemorate the 50th anniversary.

Krugerrands are now available in one-ounce, half-ounce, quarter-ounce, and one-tenth-ounce variations alongside one-ounce silver coins. Limited numbers of two-ounce gold Krugerrands are also available.

The new coins are set to add to the range of collectable coins on offer from the South African Mint.

Godongwana gazetted the new designs on 17 April, which also marks the date from which they will be accepted as legal tender in South Africa.

Most notable among the designs is a 24-carat gold R50 Big 5 coin, which will weigh over seven grammes and have a diameter of 22 millimetres.

This coin series will bear the Big 5 animals found in nature reserves across South Africa and will be issued until 2027.

Another major addition is The Odyssey, which will feature the martial eagle and will be available in various denominations, ranging from R5 for a one-ounce coin to R200 for a five-ounce coin.

A one-kilogram fine silver The Odyssey coin will also be available, alongside the other weights in silver and gold. All coins in this series will only be issued in 2026.

The African Range of coins will run until 2029 and be available in denominations ranging from R10 for a two-ounce silver coin to R1,000 for a one-kilogram gold coin. These coins will feature a cheetah on the front and reverse sides.

These major series of coins will be coupled with new versions of existing coins, including new Krugerrands and Protea coins.

A special commemorative coin for the Horse Zodiac Sign in the Chinese Lunisolar Calendar is also being issued in one gold and one silver variant, worth R200 and R50, respectively.

The South African Mint clarified that the rand value given to the coins denote their legal tender status and should not be interpreted as their purchase price.

“Unlike circulation coins, the value of collectable coins is determined by factors such as metal content, size, rarity, mintage, and prevailing market conditions,” the mint said.

“The denomination indicated on these coins serves solely to denote their legal tender status and should not be interpreted as their purchase price or value.”