The South African Mint, based near Pretoria, struck the coin that invented the modern bullion market: the Krugerrand, launched in 1967. Working with the Chamber of Mines, the Mint pioneered the model of a one-ounce coin priced directly off the gold spot price — a template every later bullion coin copied.
By 1980 the Krugerrand made up roughly 90% of the global gold-coin market. The coin (and the Mint’s output) weathered the apartheid-era import bans of the 1980s and returned to world trade after 1994. The Mint also produces the Natura and Big Five collector series.