This is the most minted gold bullion coin of all time, with over 42 million copies produced. South Africa started minting this in 1967 to market their gold reserves, decades before many other countries like the US, Canada and China started producing volume gold bullion coins. It was alloyed with copper and intended to be used as currency. Once apartheid ended in 1994, the Krugerrand became a highly sought after bullion around the world. The Krugerrand is named after Paul Kruger, who served four terms as state leader in the Republic of South Africa.