Description of the Big Five gold coin: Elephant 1 ounce
This exciting new series is the first gold bullion coin from South Africa since the introduction of the 22-karat Krugerrand in 1967. The Prestige Bullion gold coins from the Big 5 Series I are a continuation of the successful Big 5 Series I collector coin series, created in collaboration with the South African Mint to celebrate Africa's unique natural heritage, strength, and beauty. The term Big Five refers to the animals of Africa and originated when hunters came to the continent to hunt the most impressive specimens for trophies. This was before conservation efforts became an international priority.
Each new and subsequent 24-karat gold bullion coins of the Big Five will be introduced every five years, starting with the elephant, followed by the lion, rhino, leopard, and buffalo. These are the Big Five animals of Africa.
Appearance of the Big Five gold coin: Elephant 1 oz
The obverse features a close-up of an elephant, one of the five great African animals, in its natural habitat. The coin also bears the coat of arms of the Republic of South Africa and the inscriptions: SOUTH AFRICA and BIG FIVE.
The reverse shows a close-up of the heads of two elephants. Their eyes are particularly striking, revealing the intelligent gaze of these animals. The inscriptions on the reverse, placed in a central circle, indicate the coin's face value, weight, metal content, and fineness.
Historical overview
South Africa was the largest gold producer in the mid-20th century, contributing to nearly 50% of the annual global mine supply. To make it easier to sell such large quantities of gold, the South African mining industry came up with the idea of developing a gold bullion coin that would contain only gold from South African mines. The idea was approved by the South African Central Bank, which authorized the creation of the Krugerrand gold coin as legal tender. The Krugerrand gold coin was first minted in the early 1970s by the South African Mint and proved to be the most successful gold bullion coin ever issued by the Republic of South Africa.
The new Big 5 series of gold bullion coins is the first gold coin from South Africa since the Krugerrand was issued. The series begins in 2022 with a portrait of an elephant. The African elephant is a symbol of strength and family unity. It is also the largest living land animal and one of the most intelligent species on Earth.
In the coming years, coins featuring the other magnificent animals of the Big Five will be issued: the lion, rhino, leopard, and buffalo.
Manufacturer
The South African Mint has had a turbulent history. After the discovery of gold in South Africa (which led to the Witwatersrand gold rush in 1886), the country's president, Paul Kruger, decided to establish a national mint. It was founded in 1890 and opened on July 6, 1892, in Pretoria. After the end of the Second Boer War in 1902, the country was annexed to the British Empire and became the Colony of Transvaal, which led to the closure of the Mint after the pound sterling became the legal tender of the new colony. Under the Mint Act of 1919, the British established a branch of the Royal Mint on January 1, 1923, which produced £83,114,575 worth of sovereigns during its existence. When South Africa began to sever ties with Great Britain, the Mint was closed on June 30, 1941, and then reopened as the South African Mint.
Today, it is responsible for minting all South African rand coins. Located in Centurion, near South Africa's administrative capital Pretoria, the Mint produces coins and plates for both the domestic and international markets.