Information on 1968 Single Sided Froasted Proof Krugerrand.

1968 Single Sided Frosted Proof Krugerrand

The 1968 Single Sided Frosted Proof Krugerrand was minted by mistake. However, due to the higher mintage of the Single Frosted Krugerrand compared to the Double Frosted version, the Double Frosted Proof Krugerrand remains the rarer and most sought-after coin in the Proof Krugerrand series.

Initially, the 1968 Proof Krugerrand was intended to have frosting on both sides. However, a minting error resulted in 9,000 to 9,500 Proof Krugerrands being struck with a plain bust, where only the Springbok was frosted. To correct this, only 500 to 1,000 of the fully frosted versions were later minted.

Some of the Double Sided Frosted Proof Krugerrands did not meet the Mint’s quality standards and were rejected as official Proofs, making them exceptionally rare. To date, only around 100 have been certified as Proofs by NGC.

Another unusual occurrence was that both the 1968 and 1969 Proof Krugerrands were still available for sale at the South African Mint in 1972. However, by 1976, the 1968 Double Frosted Proof Krugerrand was selling for R3,500, while a standard bullion Krugerrand was priced at only R141.00.

The surge in interest for Proof Krugerrands was largely driven by the Mint’s decision to restrict sales. By 1973, demand was so high that subscribers were limited to purchasing only five Proof Krugerrands each. By 1975, the allocation had been reduced further to just one per subscriber.

How Much is a 1968 Single Sided Frosted Proof Krugerrand Worth?

Since the value of bullion Krugerrands is closely tied to the price of gold, it is difficult to determine an exact price for a 1968 Single Sided Frosted Proof Krugerrand.

However, based on historical sales data:

• The estimated value of a 1968 Double Frosted Proof Krugerrand is approximately 250% of the gold price.
• The Single Frosted Proof Krugerrand is valued at around 110% of the gold price.
• On May 29, 2016, a 1968 PR66 Double Frosted Proof Krugerrand was sold on eBay for US$2,035, which equated to approximately 152% of the gold price at the time.