The South African Gold Krugerrand, first minted in 1967, is considered one of the world’s first "medal-coins", as it has legal tender status in South Africa, but is not used for currency. It is also considered the first modern gold bullion coin to gain worldwide usage. In 1984 the U.S. Congress banned the import of the Krugerrand as part of the economic sanctions imposed on South Africa due to its Apartheid policy, but these sanctions were repealed in the 1990s.

Featured on the coin's obverse (and lending his name to the coin) is Paul Kruger, four-time elected President of the Transvaal. The reverse features the springbok, a native South African deer-like animal that is the symbol of the national rugby team and an iconic image of South Africa.